Employers often ponder quandaries in hiring, firing and the retention their best employees. If you’re like many employers, you might want to consider re-thinking your approach to human resources.
As you analyze your situation, wisdom and courage are your best friends in addressing three typical questions about establishing guidelines.
They include:
1. When do I hire ?
2. If I have to lay off workers, can I include undesirable employees?
3. How do I retain my top employees in this strong economy?
When do I hire?
You increase hiring of employees when you’re confident about the economy and you’re experiencing an increasing demand for your products and services, as well as when you have adequate cash flow.
We can conclude the now-healthy consumers’ confidence in their financial situations and the economy will probably be a factor in your decision-making.
Consumer demand accounted for about 70 percent of our economic expansion since 2016. Consumers, your potential customers, who were once thriving under President Trump are now weary, as a result of President Biden’s inept policies.
You increase hiring of employees when you’re confident about the economy and you’re experiencing an increasing demand for your products and services, as well as when you have adequate cash flow.
Analyses by leading economist Peter Morici, Ph.D. explain why. Dr. Morici is a professor emeritus at the University of Maryland Smith School of Business, former Chief Economist at the U.S. International Trade Commission, and seven-time winner of the MarketWatch best forecaster award in competition with 41 other top economists.
Most companies try to slash labor costs. Automation from technology is another reason for Americans being under-employed or unemployed. You, too, must continue to carefully monitor your company and the macro situation.
If I have to lay off workers, can I include undesirable employees?
True, people are consistent in their behavior across the board. Unpleasant employees are frequently under-performers. You must deal with performance issues, but avoid the typical 12 errors in evaluations.
Make sure you have irrefutable reasons in order to avoid a potential claim of wrongful termination. This will be important, too, if you want to refill one or more positions.
Note: Even if they’re annoying to be around, you have to justify layoffs for workers. To avoid any legal hassles, it is generally feasible to let such workers go with some provisos.
Here are important considerations:
— Do you have documentation explaining the business reasons for a layoff?
— Can you defend your process for selecting whom to lay off?
— Do you have written performance reviews or records of disciplinary actions?
— Are you following all applicable laws?
— Are you fair and compassionate?
Make sure you have irrefutable reasons in order to avoid a potential claim of wrongful termination. This will be important, too, if you want to refill one or more positions.
Again, it’s important to properly deal with performance issues. You will also have to take precautionary steps to avoid morale issues with your retained workers.
How do I do retain top employees in this strong economy?
Firstly, consider your staff. Historically, many employees who do not have reasons to be loyal to an organization will want to work elsewhere. That’s mainly the workers who bide their time until they can find a job elsewhere.
So it is critical to evaluate what will motivate employees to stay and become high performers. Recognition for good work is appreciated by 70 percent of workers. Remember for best performance, be sure to inspire employees with non-financial rewards.
Therefore, implement the appropriate measures to show your workers you care about their welfare. In addition, I am a big believer in employee development and training programs. If you fail to retain great workers, it will cost you in the long run.
Of course, great employees want to work with great team members. Know where and how to recruit the best employees. Here are advertising tips to attract the best talent.
From the Coach’s Corner, here are related HR tips:
Strategic HR Management for Retaining High Performers — You must build your organizational capabilities if you want to create an environment that will retain high performers. The way to accomplish it is to be committed to strong results with specialized retention initiatives for your talent.
Welcoming New Hires the Right Way Enhances Your Culture –What is your plan for welcoming new employees? If you don’t plan well, you risk alienating your new employees, your organization’s culture and ultimately hurting your business performance.
Are You Guilty of Micromanaging? 6 Tips to Stop – Micromanagement is a ramification of ignoring best practices in management. People who micromanage lose maximum efficiency, productivity and teamwork – in other words, optimal profitability.
Productivity: 5 Management Tips to Motivate Your Employees – A major quandary for managers is to bring out the best in their employees. Every manager wants to do it, but it’s not always easy. What’s the reason? Usually, it’s because employees are disengaged – disconnected from their managers and companies. Here’s how to fix it.
Management: How to Help Employees to Grow Professionally – Managers owe it to the organization to help their employees grow professionally, and will benefit from higher employee performance and low turnover.
For Profits, Align Your HR Program with Your Business Strategy – For profits, a successful human-resources management strategy should complement your overall business strategy. Here’s how.
“The problem with people is that they’re only human.”
-Bill Watterson
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