As businesses navigate from the inception of their venture, they constantly make daily decisions that affect business’ lifespan and prosperity long term. Talking about stress inducer! Regardless the size, business’s most important asset is its people and reputation. It’s because they are the face of the company; big or small.
Think about Starbucks’s scandals. While focusing on getting the inventory and products to run the company with the least expense to make the most profit out of it, the human aspect is often ignored. Working with a great team that has the same goals and values is just as equally important as getting the product in, paying rent, making sure the insurance coverage covers enough in case anything happens, and/or technology supporting to move the product or services; among other things.
In short, businesses that don’t see the value in their partners and/or employees, lose money long term. Customers can feel the environment, they notice a high employee turn around and notice mistakes happen.
With the wrong person on staff, the income wont come in as desired, product won’t move, bad reviews happen, and conflict arise leading litigation. Customers and outside contracted parties can see through the craps and capitalize on it.
For legal team, it’s a headache and translates into a liability. To solve the problem, business must stop seeking short term results. Training the staff, paying the staff without cutting hours is a start. Adding benefits and offer incentives for growths is important because employees see that they are being valued. There are statistical exceptions of course. However, motivation comes in different shape and form. Business is motivated to not only survive, but to also make profit. By providing security and perks, employees will be involved and know that they are are part of the team. When employees are involved customers notice. When employees and customers are happy, lawyers are able to prevent further because risk of liability decreases.
On a final note, stability, health, and perks that are possibly tax deductible (please ask your CPA) make it worth while for business in the long term. What doesn’t work is giving employee more tasks within a short period of time cramming their dollar. A good partner and/or employee or is worth much more than that.; motivation goes both ways.
This post is for informational and educational use only and does not create attorney-client relationship.