Best Practices for People Management in 2020
We recently talked about some of the biggest trends that will affect small- to mid-size businesses in 2020, particularly the technological changes that you should use to your advantage to stay relevant. But even with advancements, best practices for people management in your business are still a critical component; however, the best ways to work with them are changing.
Cement your Company Culture
We’re now experiencing record low unemployment, which means that we all need to work even harder to attract and keep the most talented employees. One of the easiest ways to do this is by establishing an appealing, authentic, and consistent company culture. The millennial generation now makes up the largest percentage of the American workforce and the incentives they seek are different than previous generations. Wages are no longer the deciding factor; instead, it comes down to the company culture. The culture not only needs to align with their personal values, but also provide them an opportunity to have a healthy work-life balance.
Not everything is possible with smaller businesses that have limited resources and need their employees to be hands-on, but offerings like flexible scheduling, telecommuting, health and fitness incentives, and decent maternity and paternity options are now perhaps the biggest draw when employees are choosing a company. For something a little different, but perhaps perfect for us in the pet care industry, consider allowing a short “pawternity leave” when employees bring a new pet into their lives or bereavement time if their pet passes away.
Use the Gig Economy to Your Advantage
One of the reasons why unemployment levels have dropped is the massive increase in the “gig economy,” and while decreasing loyalty can certainly be worrisome, independent contractors are expected to make up a whopping 43% of the workforce in 2020, so you might as well take advantage of this trend. Bring in freelance or independent contractors for the jobs that need to be done, but aren’t in your wheelhouse or requisite of a full-time, in-house employee to perform them. Outsource marketing and website design, use a merchant services provider for expert help implementing the hardware and software needed to keep your business performing smoothly, or even bring in experts for coaching and tailored managerial advice. Using gig workers to perform these special projects will save you financially, while also growing your business into the future.