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HR Disaster: Making These 7 Blunders Means Losing Your Star Employees

HR Disaster: Making These 7 Blunders Means Losing Your Star Employees

If you’re the boss or manager of a business, you more than likely are able to name your best employees off the top of your head. You know they are the hardest working people you have under you, and you know that they’ll do anything to keep business moving forward. However, this doesn’t mean they should be taken for granted. If your best employees don’t feel like you acknowledge them as being such, they may start to look elsewhere. Your best employees could fly the coop if you don’t make sure to avoid these seven human resource blunders:

1. Unfair compensation

The best employees pride themselves on a job well done. They come in every day hitting the ground running, and don’t stop until the end of their shift (or later, as the case may be). However, if their talents, drive, and willingness to go the extra mile go unrewarded for too long, one of two things could occur. Your best employees may start to slack off when they realize everyone else makes the same amount of money they do, regardless of the effort they put in to their work. If they don’t go this route, they’ll more than likely start looking elsewhere for employment in which their salary is entirely contingent upon the effort they put into their duties.

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2. Poor work-life balance

My father, who works as a teacher, has a reputation around my hometown of being an incredible carpenter, and when summer rolls around people call him non-stop asking if he can build a deck for them or put some other addition onto their house. It’s something a lot of people can’t do, but since my father has done it well before, others think it’s “easy” for him. He is definitely a master of the craft, but he doesn’t consider it an easy task to complete. And it definitely hurts to have people say, “Oh, John can take care of that for you,” as if he has nothing else to do with his life in the summer.

The same goes for your best employees. Just because they’re efficient and quick-working in whatever needs to be done doesn’t mean it’s not hard work, and it doesn’t mean they truly enjoy it. If you put too much on your best employee’s shoulders, so much so that he misses out on other aspects of life (due either to time constraints or sheer exhaustion), he will eventually shrug everything off and realize his paycheck isn’t worth the stress.

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3. Lack of appreciation

I’m not saying your employees need a cookie after a job well done (although it wouldn’t hurt!). But I am saying their hard work and diligence needs to be celebrated in some way or another. Even a simple “thank you” can go a long way in the busy rat-race of the business world. Take the time to have employee of the month awards, or time to recognize improved performances. Also, though hard work is what you pay your employees to do, don’t simply expect them to go the extra mile as the status quo. When workers go above and beyond the call of duty, be sure to recognize that publicly, so others feel motivated to push themselves as well.

4. They’re not supported

We’ve all heard the saying, “The squeaky wheel gets the grease.” In other words, the employees who don’t give their all, or aren’t exactly competent and up to the task at hand, are the ones that sometimes get all the attention. Like I said before, just because someone is a hard worker who usually can figure things out for himself, that doesn’t mean he should feel as if he can’t come to you with a problem.

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Star employees are great workers for a reason: they understand the business and are able to think ahead. But this means nothing if their voices aren’t heard. If they come to you with a concern, take it seriously, and act upon it immediately. They might not be in a position in which their opinion matters much to the company, but if they reach out to you, don’t blow them off. If you do, you run the risk of them becoming disgruntled and unsatisfied with their current position.

5. A negative work environment

Being a shining star in a sea of mediocrity can be incredibly taxing on a person’s psyche. While everyone else goes about their workday with a scowl on their face, top employees often try to make the best of awful situations, no matter how difficult it can be to do so. Negative employees can bring productivity down to a minimum, and will foil any attempt a star employee makes at bringing morale up. If this goes on for too long, even your best employees will start to dread coming to work every day. As the boss, it’s your job to cultivate a working community of people who are happy to be where they are, and all working toward a common goal.

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6. Non-transparency

When an employee thinks you’re hiding something from the rest of the crew, he’ll start to second-guess every decision you make. He’ll wonder if you have an ulterior motive for switching up the schedule, or pairing him with a difficult employee. You’ll lose the trusting relationship you once had, and he’ll constantly doubt whether or not the decisions you make will actually benefit the company. Furthermore, if you start to spring changes of policy on your employees without their input and with no notice, they certainly won’t trust you anymore, as, for all they know, each day could be their last working for the company. Though there are definitely some things that can be kept on a “need to know” basis, make sure that your staff knows about major shifts in policy and procedure well in advance if you want to continue forging a trusting relationship with them.

7. Promoting from the outside

Absolutely nothing can bruise a relationship with a star employee more than keeping them stuck in the position they’re currently in when a promotion comes across the board. This is especially true when employers take in an outsider as a “consultant” or some other title that is meant to specifically keep a great employee in the position they’re in. Many employers will do this because they don’t want to lose that employee in that position, but doing so will almost certainly have the opposite effect: Why should someone work hard if they have no chance of moving up within the company? A move like this will definitely leave your best employees so disillusioned that they’ll immediately start looking for a promotion elsewhere.

Featured photo credit: Employee Ownership/Cabinet Office via farm8.staticflickr.com

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Last Updated on May 15, 2019

10 Most Successful Entrepreneurs and What We Can Learn from Them

10 Most Successful Entrepreneurs and What We Can Learn from Them

Apart from making crucial decisions for their own businesses, entrepreneurs innovate and grow their ideas. Albeit there being no cookie-cutter answer that fits everyone’s experiences, taking a look at some of the most successful entrepreneurs today, you might spot some similar traits and characteristics.

Starting and nurturing a business entails a great amount of hard work and commitment. However, for aspiring entrepreneurs who are prepared to dedicate themselves to their vision, here are 10 most successful entrepreneurs you can learn from:

1. Melanie Perkins: Know Your Worth and Keep Trying

    Melanie Perkins founded Canva, a Sydney-based business valued at $1Billion having successfully raised a number of rounds of successful funding and boasting more than 10 Million users in 179 countries.[1]

    She told BBC that one of the biggest challenges she faced getting into the business was talking about her company’s accomplishments when she first got to Silicon Valley. She attributed this difficulty to a cultural difference where Australians tend to ‘talk down’ their achievements and this would slow down her fundraising progress for a few years.

    Despite hundreds of rejections, Melanie emerged three years later with a much clearer strategy and stronger investor pitch that prompted a series of fundraising rounds netting the company $82Million of funding in total.[2]

    2. Bill Gates: Keep Learning and Exploring

      If you don’t know Bill Gates, you likely know the company he founded – Microsoft.

      Bill Gates’ story is a prime example of nurturing an idea that might seem out of this world but make sense in the future. One of the most successful entrepreneurs in history did not complete his degree at Harvard University to pursue a vision that the technology would soon become the future.

      He told a white lie to Altair, saying that he had made a computer program for them, therefore pushing himself to create a system that would change modern history.

      “The most important speed issue is convincing everyone that the company’s survival depends on moving as fast as possible.”

      Gates’ success is built on self-improvement and the seeds of an idea.

      3. Elon Musk: Never Stop Innovating

        Traditional thinking suggests that in order to become a successful entrepreneur, one must focus in a single field or industry.

        Elon Musk, however, breaks that rule.

        Today, the multifaceted tech entrepreneur, investor, and engineer advocates for the diversification of skills and businesses by delving into various fields of interest.

        When done right, skills in a single domain can be carried over then applied into contrasting industries to create something new the world might need. Musk owes his accomplishments to a constant thirst for knowledge.

        Having birthed Tesla and a myriad of products across the arenas of aeronautics and software design, Musk continues to evolve as an entrepreneur and plans to innovate for the long haul.

        4. Richard Branson: Develop People First

          British entrepreneur Richard Branson founded Virgin Records in the early 1970s. Virgin Records has since grown into the Virgin Group, today responsible for over 400 companies.

          The billionaire is strongly particular about working with a team that shares his core values and aspirations.

          Branson believes that managing a business can become taxing, thus he acknowledges his employees for putting in the effort that they have.

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          A good leader knows how to raise morale for positive productivity. Utilising emotional intelligence and compassion is a game changer in seeing results within a team.

          Branson’s supports the idea of nurturing a positive work environment, with the belief that credentials must go hand-in-hand with an enthusiasm for work.

          5. Jeff Bezos: A Relentless Focus on Customer Satisfaction

            Having founded Amazon, Jeff Bezos is known to be one of America’s most successful entrepreneurs. The e-commerce pioneer fixates himself on angry customers with the belief that a business’s loopholes are found in the experiences of unsatisfied customers.

            For the 8th year in a row, customers have ranked Amazon as the number one in customer service (according to the American Customer Satisfaction Index).

            While numerous companies ignore unhappy customers, Bezos found success in learning from reviews and surveys. By focusing on customer service, Amazon shows they care, both for their customers and for rising above their competitors.

            While praise and recognition are signs that a business is accelerating, criticism is an opportunity to improve a product or a service.

            6. Mark Zuckerberg: Start Small, Think Big

              Valued at over 55 billion dollars today, Mark Zuckerberg built the first version of what would become a social networking giant in his Harvard University dorm room. As one of the world’s youngest entrepreneurs, Zuckerberg undoubtedly took countless calculated risks to get his brilliant idea to its current status with 2.38 billion active monthly users.

              “The biggest risk is not taking any risk.”

              He’s always daring to explore with a fearless mindset.

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              The young tech entrepreneur never shied away from innovating outside of the box. Soon after Facebook became a hit to users and advertisers, big corporations took interest in buying Facebook from Zuckerberg.

              However, he took the risk and decided to stay with his creation. Turning down billions of dollars offered by Yahoo CEO, Terry Semel, he envisioned turning his brainchild into something much bigger than what it already was then.

              7. Steve Jobs: Live Your Own Dreams

                Steve Jobs lived a rocky path all his life and an aspect of which is a tumultuous career.

                The founder of Apple endorsed his beliefs on the temporality of life and limitations of time. He preached about the importance of working on the very legacies people wish to leave behind, an achievement he’s undoubtedly etched into the the archives of human history.

                Never one to hide under someone’s shadow, Jobs did not live by anybody else’s principles so he formed his own. He tirelessly dedicated himself to building a unique brand of products that became the benchmark for contemporary technology.

                After his highs and lows through his brief battle with cancer, Jobs concludes with yet another lesson to takeaway from his remarkable life. “No matter how much money you have, even the richest man can’t buy time.”

                8. Warren Buffett: Balance is Essential to Success

                  Despite being the third wealthiest person in the world, Warrant Buffett sported a frugal lifestyle for most of his life.

                  After buying a house in Omaha, Nebraska for just above 31,000 dollars, he has lived there since 1958. As a leading investor and a founder at Berkshire Hathaway, Buffett believes in setting aside an amount to save and spend only on necessities.

                  With a long term goal as a top priority in mind always, treating oneself can be sustainable once in a while. He advices to save money by deciding first and foremost what aspects to scrimp on and what aspects to splurge on to ensure a happy and balanced lifestyle.

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                  9. Jack Ma: Never Give up

                    On every journey to success, everybody stumbles and arrives at roadblocks. Some more than most, like Jack Ma, who survived countless rejections and failures only to get back up and brave every storm.

                    Ma is the founder of multinational technology conglomerate Alibaba Group. Despite being rejected to Harvard after every one of his 10 applications, Ma was never defeated.

                    His grit and tenacity is a fine testament to the fact that grades do not determine a future. While qualifications on paper are important, the development of skills and an attitude is just as helpful in making a recipe for success.

                    Despite finding himself in the verge of bankruptcy in the 1990s, Jack Ma possessed the resilience to put one foot in front of the other until he finally made it. “It’s important to have patience,” he says.

                    10. Tan Min Liang: Passion Can Pay Off

                      Tan Min Liang is the founder of the leading high-performance gaming hardware, Razer. Always on the look out for new opportunities to connect and scale his business, Tan has been bold in making many of his life’s decisions.

                      Having deviated from a traditional path set by a family that consists of doctors and lawyers, Tan was to find his life’s work and passion while gaming with his older brother.

                      The idea was simple: there were so many games out there to play, however, there were hardly any gaming equipment to match this.

                      So he dropped out of law and began going a different direction, into creating solutions in the gaming industry. At the start of 2019, Tan wrote to tech luminary Elon Musk to which Musk’s reply suggested of a joint venture between two of the most successful entrepreneurs today.

                      Final Thoughts

                      In today’s cutthroat world, the road to becoming a successful entrepreneur is a long and arduous process trailed with ups and downs. A valuable lesson that a good hand of entrepreneurs would love to convey to aspiring entrepreneurs is to keep the spirit of innovation and to explore uncharted waters.

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                      Learning from experience and failure is one direction to a desired end goal. Exhibiting the same dedication and grit so many entrepreneurs have through their unexpected careers – today’s budding visionaries ought to hang on their dreams and leave room for improvement along the way.

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                      Featured photo credit: Patrick Tomasso via unsplash.com

                      Reference

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