Employers and managers need to maximize their own value by getting the most from their employees.
Managing a business is a journey of growth, wisdom, and, hopefully, profitability. Many businesses require about two years of dedication to earn a profit, and many entrepreneurs cannot take a salary themselves for up to five years.
There are several ways to speed up this time line. For those who are already profitable, maximizing it may make the lean years the future may hold less so.
Don’t do Work an Employee can do Equally Well
Business owners and managers have certain skills that set them apart from those who work for them. They often get to the position they are in by setting themselves apart from the people they work with and excel.
For this reason, a shipping manager may be more efficient at loading a truck than someone who works for him. Having said this, the manager should not load trucks on occasions that don’t necessitate his immediate help.
The reason for this is because even if a truck is loaded a little slower, the value will be the same if the shipment leaves on time. However, as a manager, he can add value elsewhere, such as researching cost-effective shipping measures, or studying the contracts with clients and suppliers.
In addition to this, managers can help employees add value by setting goals to the work they currently do.
Have Employees set Goals for Themselves
When people set goals it gives them a measurable value to reach for. In sales, a sales team can have overall goals as well as individual goals. Winning on a team can be very rewarding, and it will enhance unit cohesion since a sale will result in everyone reaching their goals together.