Cultural Levels and Business
February 12, 2025
The current ratio is the most popularly used metric to gauge the short term solvency of a company. This article provides the details about this ratio. Formula Current Ratio = Current Assets / Current Liabilities Meaning Current ratio measures the current assets of the company in comparison to its current liabilities. This means that the […]
Globally outsourcing 3PL Market is growing fast. In the US, the industry is expected to reach over $150 billion as compared to a global estimate standing at $450 billion as per industry experts estimates. Companies aiming for aggressive growth in global scenario recognize the need to partner with 3PL logistics providers to be able to […]
April 10th is considered to be “Equal Pay” day all over the world. This day has been commemorated since the year 1996 to remind the world that women are allegedly being paid less than men to do the same amount of work. As per the data from Facebook COO’s non-profit organization, women only receive 80% […]
The field of behavioral finance has become fairly developed over the years. There have been many psychologists as well as economists who have been spending a lot of time trying to obtain more information about how behavioral finance impacts decision making. This is the reason that in the past few articles, we have come across […]
Consultative selling has gained global acceptance as the most effective sales process and has now been adopted by all industries and organizations from insurance to hotels, from airlines to hospitals including industrial, retain and all other sectors of business. Organizations have realized the need to be customer centric and build customer relationship to be centric […]
What is an organization without its employees? Nothing. Employees are said to be the true assets of an organization. Even the best of technology or best of infrastructure would not be of much use if employees do not perform up to the mark and are not satisfied with their current profiles.
As they say, “charity always begins at home”. The first and the foremost responsibility of an organization towards its employees is to ensure that they are happy and satisfied with their jobs.
It is unethical to treat employees as mere machines and expect them to work continuously for eight to nine hours at a stretch just because they are being paid. Do not treat your staff as labours.
Management needs to ensure that individuals associated with their organization are actually enjoying what they are doing and also growing with time. Job profiles ought to be delegated equally as per expertise, knowledge and educational qualification of individuals so that no one is overburdened.
Provide healthy working conditions to your employees. Assign proper workstations or cubicles for them to work comfortably and eventually deliver their level best. Everyone needs some amount of privacy and make sure your employees get the same; else soon they would be frustrated with their job and look for better opportunities.
Sit with your employees from time to time and try to find out whether they are happy with their job or not and if at all they are facing any problems in the system? It is the responsibility of the management to look after the safety of its employees. Ensure your office building is resistant to fire and earthquake. You can’t play with the lives of so many individuals.
Till the time an employee is on official duty, it becomes the responsibility of the organization to assist him/her in case of a medical emergency or other serious concern. If one of your engineers gets hurt at your site, it is your responsibility to immediately take him to the hospital and provide basic medical assistance.
Crisis can come anytime. If an employee asks for some advance from his/her salary, please do not say a blunt NO. Analyse the whole situation and find out how serious the whole issue is? He/she might need some money to treat his/her ailing father. It would be really inhuman to deny help during such circumstances. I don’t think there should be much of a problem in this; after all, he is asking money from his own salary only.
God forbid, if any of your employees dies, make sure you extend your sympathies and support to his/her family members to cope up with such an irreparable loss. Whenever your employees need your help, make sure you are there with them. A feeling of loyalty towards the organization comes only when the management treats all its employees as part of one big family and takes good care of them.
Stand by each other not only during happy times but also sad moments. Remember; the fun is to enjoy not only the happiness but the challenges together.
Encourage employees to praise and appreciate each other. Give them ample opportunities to show their talent. Provide them an environment where they can hone their skills with time. Problems arise when management puts a full stop on the growth of employees. Ask them to interchange roles, so that everyone gets to work on something new.
Timely appraisals are important. It is the responsibility of the management to ensure that employees who are working really hard and showing progress are suitably rewarded.
Incentives, cash prizes, bonuses go a long way in not only motivating the employees but also creating a healthy and positive ambience at the workplace.
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