Hasty Decisions are rarely Productive
When the profit line begins to decrease, many business owners panic and often react by eliminating positions, merging job duties, decreasing wages or reducing hours. Often, these decisions are made in haste and can negatively affect the long term fiscal health of the business. There is no disputing, certain circumstances may require these strategies; however, they should be a last resort rather than a defensive maneuver.
Merging Job Responsibilities and multi-tasking can cost your business $$$
In a misguided attempt to cut costs, merging job responsibilities has become common practice. It is imperative that businesses recognize and analyze the benefits of certain skill sets, experience and productivity of each employee, before implementing such drastic cost cutting measures. Employees bring with them distinct and respective talents that may or may not be listed under a computer generated “job description”. Merging job responsibilities typically means more work for the same pay, which may result in employee "burn-out". Is it worth the risk of losing a great employee to another company, maybe a competitor? Suffice it to say that all jobs are not interchangeable!
Your Employees are your Best Resource for Ideas
Business Owners should be visible, approachable and open to suggestions. The value of dedicated employees cannot be underestimated; they are your best, in-house resource for ideas and improvements. In today’s business environment, a successful business owner must invest valuable time cultivating and maintaining business relationships with peers and staff, just as they do with their clients.
A Proactive Approach is Always Best
All options be carefully weighed and searching for a proactive approach serves the best interest of the business.
Ask Yourself this Question
“Will the solution I am proposing, address this situation from a proactive approach or a reactive state”? If the response is the latter, more evaluation time is required.