As a business owner or company manager, it can be challenging to figure out how to create a template for continued success through the years. But three variables that are always going to come up include money, talent, and happiness. If you understand the interaction between these three ideas, at the very least you should be able to find a competitive niche within your industry.
Think of how you can approach each of these topics. How can you attract the best talent to your company? How well you understand job satisfaction from an employee perspective? Where does the value of money fit into your business structure? And what are some of the ways that you can bring all those concepts together?
One of the best things for you to do as an owner or manager is to figure out how to attract talent to your company. Do you pay the most money for a person with a specific type of job description? Do you offer the best benefits? Do you have the best working environment for them, or are you close to their location? Do you have a strategy for improving your business and thereby giving them more opportunities as time progresses? Just because you have a good idea for business does not mean good people will work for you without reason.
Understanding Job Satisfaction
It is vital that you understand job satisfaction from an employee perspective as well. In other words, you need to know what makes employees happy. You might think offhand that it could be money. But studies continually show that this is a minor factor in the overall decision. There is even a statement that suggests that people work for bosses, not at jobs. This is a compelling concept to consider, as you want to have the managers be a positive element in your workforce.
The Value of Money
The bottom line of the business is money. But you have to understand where that value of money is. Look at all of the adverse reactions people have to the paychecks of corporate CEOs. Money is a driving factor, it is something to aim for, but at a certain point, there are very negative connotations from an outside perspective.
Bringing It All Together
In the end, you have to figure out how to bring it all together with your workforce. Going through each variable regarding money, talent, and happiness as it relates to business will give you a few different ways to appreciate all of the systems thinking that is required to have a happy and productive workforce. There’s a lot of psychology and operating a productive business, so it’s essential that you don’t get lost in urgent or top-level considerations rather than more profound issues.