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Business Advice

Power to the people

Tap your most valuable resource
CATS Classified In The Straits Times - April 5, 2011
By: Sheila Lim
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Power to the people

If you are a resource-poor small and medium-sized enterprise (SME), how do you deal with rising costs, and how are you going to raise productivity?  

One of the most effective ways of achieving these business goals is to “power up” the most valuable resource you have – your employees.

Instead of merely adding extra staff and extending working hours, you should strive to obtain the “highest returns” on your existing human capital implement investment:

  • Motivate your people – the output and quality of work from a motivated person beats that of someone who doesn’t have much interest or pride in his work, or feel connected to the company in any way.
  • Reward employees who work smart – this will help in raising service standards and productivity.
  • Bring out the best in your employees – change their mindsets, attitudes and values, empower them and boost their morale.
  • Reduce turnover – non-financial incentives are just important as monetary rewards in keeping employees contented enough not to jump ship.
  • Retain valuable staff – implement well-planned strategies to develop the potential of high performers.

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