In law, nothing is certain but the expense.” ~Samuel Butler
I am by no means an advocate for more government regulation, but when in place, we all must follow the law. The Department of Labor, Wage and Hour Division administer the Fair Labor Standards Act (FLSA), and because there is no minimum number of employees for enforcement, it applies to almost every business whose sales are in excess of $500,000.
Whether or not the FLSA is reasonable can be argued, but the fact is, it is the law and it is being enforced. Last year, the Department of Labor hired 250 additional investigators just to look into whether firms are adhering to this law, and the number of court cases involving FLSA violations is increasing by more than 70 percent each year.
Overtime pay is one of the key areas of focus. So many businesses are not compliant with the FLSA overtime pay mandates, nor do they keep adequate records, which are critical when facing investigation by the Department of Labor. If it is found that you have not paid your employees correctly, you will have to repay the employees in addition to a stiff penalty for not following the law.
A major piece affecting overtime pay is classifying employees as exempt or non-exempt. The Department of Labor has identified specific conditions defining exempt and non-exempt employees. These guidelines are detailed on their website.
If a non-exempt employee works more than 40 hours a week, they must be paid overtime at a rate of at least one and a half times their normal salary. For example, if a non-exempt staff member sits at their desk doing business during lunch, this would be considered time worked. Because of this law, some firms tell their employees that they must leave their desk during lunch to ensure that they are not working.
Even if your business has a policy stating that overtime is not allowed or requires prior approval, you will still have to pay when a non-exempt staff member works more than 40 hours. In addition, the FLSA mandates the employer will still have to pay even if the employee waives their right to be paid for their time.
The most troubling part of this law is the “off the clock” time. Employers must be so careful with this. For example, if you sent e-mails or texts to a non-exempt employee in the evening, this could and would probably be construed as overtime. For this reason, some employers only permit e-mails to non-exempt employees during their normal work hours.
The FLSA, like so many other labor laws, is so complex and expansive. For this reason, it is really so easy to violate it without even realizing. To be absolutely certain your business is in compliance, you really should seek guidance from an HR professional or labor attorney.
Now go out and make sure you are abiding by the labor laws affecting your company.
You can do this.
Sunday, May 15, 2011
Small Business and the Fair Standards Labor Act
In law, nothing is certain but the expense.” ~Samuel Butler
I am by no means an advocate for more government regulation, but when in place, we all must follow the law. The Department of Labor, Wage and Hour Division administer the Fair Labor Standards Act (FLSA), and because there is no minimum number of employees for enforcement, it applies to almost every business whose sales are in excess of $500,000.
Whether or not the FLSA is reasonable can be argued, but the fact is, it is the law and it is being enforced. Last year, the Department of Labor hired 250 additional investigators just to look into whether firms are adhering to this law, and the number of court cases involving FLSA violations is increasing by more than 70 percent each year.
Overtime pay is one of the key areas of focus. So many businesses are not compliant with the FLSA overtime pay mandates, nor do they keep adequate records, which are critical when facing investigation by the Department of Labor. If it is found that you have not paid your employees correctly, you will have to repay the employees in addition to a stiff penalty for not following the law.
A major piece affecting overtime pay is classifying employees as exempt or non-exempt. The Department of Labor has identified specific conditions defining exempt and non-exempt employees. These guidelines are detailed on their website.
If a non-exempt employee works more than 40 hours a week, they must be paid overtime at a rate of at least one and a half times their normal salary. For example, if a non-exempt staff member sits at their desk doing business during lunch, this would be considered time worked. Because of this law, some firms tell their employees that they must leave their desk during lunch to ensure that they are not working.
Even if your business has a policy stating that overtime is not allowed or requires prior approval, you will still have to pay when a non-exempt staff member works more than 40 hours. In addition, the FLSA mandates the employer will still have to pay even if the employee waives their right to be paid for their time.
The most troubling part of this law is the “off the clock” time. Employers must be so careful with this. For example, if you sent e-mails or texts to a non-exempt employee in the evening, this could and would probably be construed as overtime. For this reason, some employers only permit e-mails to non-exempt employees during their normal work hours.
The FLSA, like so many other labor laws, is so complex and expansive. For this reason, it is really so easy to violate it without even realizing. To be absolutely certain your business is in compliance, you really should seek guidance from an HR professional or labor attorney.
Now go out and make sure you are abiding by the labor laws affecting your company.
You can do this.
I am by no means an advocate for more government regulation, but when in place, we all must follow the law. The Department of Labor, Wage and Hour Division administer the Fair Labor Standards Act (FLSA), and because there is no minimum number of employees for enforcement, it applies to almost every business whose sales are in excess of $500,000.
Whether or not the FLSA is reasonable can be argued, but the fact is, it is the law and it is being enforced. Last year, the Department of Labor hired 250 additional investigators just to look into whether firms are adhering to this law, and the number of court cases involving FLSA violations is increasing by more than 70 percent each year.
Overtime pay is one of the key areas of focus. So many businesses are not compliant with the FLSA overtime pay mandates, nor do they keep adequate records, which are critical when facing investigation by the Department of Labor. If it is found that you have not paid your employees correctly, you will have to repay the employees in addition to a stiff penalty for not following the law.
A major piece affecting overtime pay is classifying employees as exempt or non-exempt. The Department of Labor has identified specific conditions defining exempt and non-exempt employees. These guidelines are detailed on their website.
If a non-exempt employee works more than 40 hours a week, they must be paid overtime at a rate of at least one and a half times their normal salary. For example, if a non-exempt staff member sits at their desk doing business during lunch, this would be considered time worked. Because of this law, some firms tell their employees that they must leave their desk during lunch to ensure that they are not working.
Even if your business has a policy stating that overtime is not allowed or requires prior approval, you will still have to pay when a non-exempt staff member works more than 40 hours. In addition, the FLSA mandates the employer will still have to pay even if the employee waives their right to be paid for their time.
The most troubling part of this law is the “off the clock” time. Employers must be so careful with this. For example, if you sent e-mails or texts to a non-exempt employee in the evening, this could and would probably be construed as overtime. For this reason, some employers only permit e-mails to non-exempt employees during their normal work hours.
The FLSA, like so many other labor laws, is so complex and expansive. For this reason, it is really so easy to violate it without even realizing. To be absolutely certain your business is in compliance, you really should seek guidance from an HR professional or labor attorney.
Now go out and make sure you are abiding by the labor laws affecting your company.
You can do this.
Sunday, May 8, 2011
Employees Need to Understand Some Basics About Your Finances
Employees need some idea of your firm's fiscal health
May 5, 2011
By Jerry Osteryoung
“Information can tell us everything. It has all the answers. But they are answers to questions we have not asked, and which doubtless don't even arise.” ~Jean Baudrillard
A local business owner who is a distributor for a large manufacturer was considering asking his staff to help cut costs. He decided to survey his staff first, asking everyone three questions:
What percent of the selling price of goods or services do the owners get to keep?
What is the dollar amount the owners have invested in this company out of their own pocket?
By what percentage do you think the profits of this company grow every year?
When the entrepreneur compiled the results from these questions, he was floored. Like so many others, this entrepreneur understood very little about his staff's knowledge of the business. He assumed that they knew much more than they actually did.
In response to question one, several employees said the owner kept 100 percent of the sale price, and not one staff member said he kept less than 30 percent. Every one of his employees believed he got to keep 30 percent or more of the profit, and the average response was 50 percent.
Staff does not need to know the exact amount, but it is important they have some idea of the range of profits you are making. Ensuring your staff has a reasonable expectation is important for many reasons. In this case, it was going to be very difficult for this entrepreneur to convince his staff to help cut costs if they thought he was making 50 percent on every sale.
The entrepreneur showed his staff that the average public company only earned two percent in net profits last year — a shocking revelation for many. Most never imagined the number would be so low.
As for the second question, most of the staff greatly underestimated the amount the owner had invested in the business. Most answered that the owner had put in $100,000, but in reality he had contributed more than $1 million of his own money.
To correct this false impression, the owner simply told his employees how much of his own money he had invested. Again, the staff was floored. They had no idea.
On the question about profit growth, most of the staff answered that profits had been increasing by more than 20 percent each year. In reality, profits had been declining.
Through this exercise, employees gained a new understanding of the business and a more accurate idea of its financial situation. Now that those major misconceptions had been replaced with more realistic impressions, it was much easier to get the staff to buy in to cost-cutting measures.
Now go out and make sure your staff has a general idea about your profitability and the amount you have invested in the business. I am convinced that the more upfront you are about this, the harder your staff will work.
You can do this!
Jerry Osteryoung is the Director of Outreach of The Jim Moran Institute for Global Entrepreneurship in the College of Business at Florida State University; The Jim Moran Professor Emeritus of Entrepreneurship; and Professor Emeritus of Finance. He was the founding Executive Director of The Jim Moran Institute and served in that position from 1995 through 2008. His newest book “If You Have Employees, You Really Need This Book” is an Amazon.com bestseller. He can be reached by e-mail at jerry.osteryoung@gmail.com. All of Osteryoung's articles can be found in a searchable format at http://jmi.fsu.edu/Services/Jerry-s-Articles.
May 5, 2011
By Jerry Osteryoung
“Information can tell us everything. It has all the answers. But they are answers to questions we have not asked, and which doubtless don't even arise.” ~Jean Baudrillard
A local business owner who is a distributor for a large manufacturer was considering asking his staff to help cut costs. He decided to survey his staff first, asking everyone three questions:
What percent of the selling price of goods or services do the owners get to keep?
What is the dollar amount the owners have invested in this company out of their own pocket?
By what percentage do you think the profits of this company grow every year?
When the entrepreneur compiled the results from these questions, he was floored. Like so many others, this entrepreneur understood very little about his staff's knowledge of the business. He assumed that they knew much more than they actually did.
In response to question one, several employees said the owner kept 100 percent of the sale price, and not one staff member said he kept less than 30 percent. Every one of his employees believed he got to keep 30 percent or more of the profit, and the average response was 50 percent.
Staff does not need to know the exact amount, but it is important they have some idea of the range of profits you are making. Ensuring your staff has a reasonable expectation is important for many reasons. In this case, it was going to be very difficult for this entrepreneur to convince his staff to help cut costs if they thought he was making 50 percent on every sale.
The entrepreneur showed his staff that the average public company only earned two percent in net profits last year — a shocking revelation for many. Most never imagined the number would be so low.
As for the second question, most of the staff greatly underestimated the amount the owner had invested in the business. Most answered that the owner had put in $100,000, but in reality he had contributed more than $1 million of his own money.
To correct this false impression, the owner simply told his employees how much of his own money he had invested. Again, the staff was floored. They had no idea.
On the question about profit growth, most of the staff answered that profits had been increasing by more than 20 percent each year. In reality, profits had been declining.
Through this exercise, employees gained a new understanding of the business and a more accurate idea of its financial situation. Now that those major misconceptions had been replaced with more realistic impressions, it was much easier to get the staff to buy in to cost-cutting measures.
Now go out and make sure your staff has a general idea about your profitability and the amount you have invested in the business. I am convinced that the more upfront you are about this, the harder your staff will work.
You can do this!
Jerry Osteryoung is the Director of Outreach of The Jim Moran Institute for Global Entrepreneurship in the College of Business at Florida State University; The Jim Moran Professor Emeritus of Entrepreneurship; and Professor Emeritus of Finance. He was the founding Executive Director of The Jim Moran Institute and served in that position from 1995 through 2008. His newest book “If You Have Employees, You Really Need This Book” is an Amazon.com bestseller. He can be reached by e-mail at jerry.osteryoung@gmail.com. All of Osteryoung's articles can be found in a searchable format at http://jmi.fsu.edu/Services/Jerry-s-Articles.
Sunday, May 1, 2011
Pricing and Inflation in today's economy
Price is what you pay. Value is what you get.” ~Warren Buffett
One question every entrepreneur must answer is what price they should charge for their products. The immediate impulse is to keep prices as low as possible so you are able to attract the most business, but low prices do not necessarily generate the highest level of profits.
Today, costs are increasing with inflation and you may need to evaluate your pricing. Among others, the price of fuel is soaring, the cost of medical insurance is escalating, as are the costs of airline travel and a variety of raw materials. Cotton, for example, has increased in price by more than 30 percent in the last six months.
With inflation beginning to show its ugly head and cause dramatic cost increases, you may need to raise your prices simply to balance the added expenses. If you fail to do so, your profitability will plummet.
From a customer's perspective, pricing sends a strong message, and for many, pricing is an indicator of value. If a product or service is priced too low, it will be perceived by customers as subpar. Priced higher, customers will perceive a higher value.
One of my friends truly believes that the more she pays for an item, the better it is. I have seen her contemplate two very similar products, and without fail, she chooses the more expensive alternative. She believes that by doing so, she is getting more value.
Pricing also affects the types of customers you attract to your business. Depending on the clientele you seek, setting your prices low may bring the wrong type. If customers are only focused on prices, they are not loyal to your business. They see you and your products and services only as interchangeable commodities.
Between bargain hunters and loyal customers, it is much better to have loyal customers. To encourage loyalty among your customers, a business should never rely on pricing as the sole differentiator. You must set prices appropriately and compete on nonprice elements, such as service, experience and speed of delivery.
We have been helping a wonderful lady who operated a medical clinic. Despite the fact that she worked tirelessly, she was struggling with low profits. When we reviewed her income statements and talked things over with her, we discovered that she had very little control over her costs. The only element she could control was her pricing, and she had not raised that in five years.
When we suggested she consider raising prices, she was strongly opposed. She feared that if she upped prices, she would lose customers and eventually go out of business. When we worked the numbers, however, we quickly showed her that if she raised prices by 10 percent, she would pull in a higher level of profits, even if her sales fell off 20 percent.
She finally took our advice and raised prices. When she did, her customers never said a word. Her sales have decreased by less than 2 percent, and overall, her revenues have increased by 5 percent. Her profits have grown by 10 percent.
For this entrepreneur, raising prices had a minimal impact on her customers, but a big impact on her bottom line. Though she was fearful that she would lose customers, she discovered one important truth: generally speaking, customers will remain loyal to your business as long as the value they receive is more than the price they pay, and value is dependent upon a number of elements, not just price.
Now go out and take a look at your pricing. As inflation returns, you may find you need to raise prices to offset cost increases.
You can do this!
One question every entrepreneur must answer is what price they should charge for their products. The immediate impulse is to keep prices as low as possible so you are able to attract the most business, but low prices do not necessarily generate the highest level of profits.
Today, costs are increasing with inflation and you may need to evaluate your pricing. Among others, the price of fuel is soaring, the cost of medical insurance is escalating, as are the costs of airline travel and a variety of raw materials. Cotton, for example, has increased in price by more than 30 percent in the last six months.
With inflation beginning to show its ugly head and cause dramatic cost increases, you may need to raise your prices simply to balance the added expenses. If you fail to do so, your profitability will plummet.
From a customer's perspective, pricing sends a strong message, and for many, pricing is an indicator of value. If a product or service is priced too low, it will be perceived by customers as subpar. Priced higher, customers will perceive a higher value.
One of my friends truly believes that the more she pays for an item, the better it is. I have seen her contemplate two very similar products, and without fail, she chooses the more expensive alternative. She believes that by doing so, she is getting more value.
Pricing also affects the types of customers you attract to your business. Depending on the clientele you seek, setting your prices low may bring the wrong type. If customers are only focused on prices, they are not loyal to your business. They see you and your products and services only as interchangeable commodities.
Between bargain hunters and loyal customers, it is much better to have loyal customers. To encourage loyalty among your customers, a business should never rely on pricing as the sole differentiator. You must set prices appropriately and compete on nonprice elements, such as service, experience and speed of delivery.
We have been helping a wonderful lady who operated a medical clinic. Despite the fact that she worked tirelessly, she was struggling with low profits. When we reviewed her income statements and talked things over with her, we discovered that she had very little control over her costs. The only element she could control was her pricing, and she had not raised that in five years.
When we suggested she consider raising prices, she was strongly opposed. She feared that if she upped prices, she would lose customers and eventually go out of business. When we worked the numbers, however, we quickly showed her that if she raised prices by 10 percent, she would pull in a higher level of profits, even if her sales fell off 20 percent.
She finally took our advice and raised prices. When she did, her customers never said a word. Her sales have decreased by less than 2 percent, and overall, her revenues have increased by 5 percent. Her profits have grown by 10 percent.
For this entrepreneur, raising prices had a minimal impact on her customers, but a big impact on her bottom line. Though she was fearful that she would lose customers, she discovered one important truth: generally speaking, customers will remain loyal to your business as long as the value they receive is more than the price they pay, and value is dependent upon a number of elements, not just price.
Now go out and take a look at your pricing. As inflation returns, you may find you need to raise prices to offset cost increases.
You can do this!
Sunday, April 24, 2011
Daily Dealer Marketers on the Web
“Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service. It is capable of being presented as a discipline, capable of being learned, capable of being practiced. Entrepreneurs need to search purposefully for the sources of innovation, the changes and their symptoms that indicate opportunities for successful innovation. And they need to know and to apply the principles of successful innovation.” ~Peter Dricker
One thing I know about marketing is that the vehicles for reaching potential clients are continually changing and evolving. Traditional methods are declining in importance as so many people are getting all of their news and information on the web.
While there are many things you can do with traditional advertising, it is so much better to use some of the new techniques that are currently on the rise. One such method is something called Daily Deal Marketing (DDM). This new vehicle is proving very effective and economical.
This is a brand new industry that will mature over time, but even still, there is so much opportunity out there. The two predominant Daily Deal Marketers are Groupon and LivingSocial. Both are designed to help drive new business to your door, and many companies are having some great success with them. A plant nursery we were working with was able to generate more than 500 new customers, and a spa grew its client base by more than 250.
Groupon is only three years old, but it already has over 50 million subscribers in more than 500 markets. The company raised close to a billion dollars in new capital after turning down a $6 billion-dollar buyout deal from Google.
The concept is pretty simple. The merchant offers a deal—typically 50 percent or less of retail value—that is made available to potential customers for a limited time. Generally, it takes a minimum number of purchases to activate the deal, and the merchant can put a limit on how many deals they are willing to give as well.
What the customer pays for the deal is split between the merchant and the DDM, so if you are offering a $4 cup of yogurt for $2, you will get $1 for each customer purchase. Payment by the DDM normally occurs within three weeks of the customer’s purchase.
Many entrepreneurs do not like these new marketing tactics as they generate so little income and they have to sell the product below cost. However, the real return is not the money that you receive for the product but the advertising. Not to mention the ability to bring in new customers. If you can bring a new customer to your door, it is worth the sacrifice on the initial sale because, now that they know about you, they are likely to come back.
Another return that you get from these deals is that you receive funds even if the customer never actually uses the coupon, which occurs around 20 percent of the time.
If you are a business that deals directly with customers, especially retailers, look into using DDMs. The concept is relatively simple, but the returns are very high. They are a very economical method for bringing new customers into your business.
You can do this.
One thing I know about marketing is that the vehicles for reaching potential clients are continually changing and evolving. Traditional methods are declining in importance as so many people are getting all of their news and information on the web.
While there are many things you can do with traditional advertising, it is so much better to use some of the new techniques that are currently on the rise. One such method is something called Daily Deal Marketing (DDM). This new vehicle is proving very effective and economical.
This is a brand new industry that will mature over time, but even still, there is so much opportunity out there. The two predominant Daily Deal Marketers are Groupon and LivingSocial. Both are designed to help drive new business to your door, and many companies are having some great success with them. A plant nursery we were working with was able to generate more than 500 new customers, and a spa grew its client base by more than 250.
Groupon is only three years old, but it already has over 50 million subscribers in more than 500 markets. The company raised close to a billion dollars in new capital after turning down a $6 billion-dollar buyout deal from Google.
The concept is pretty simple. The merchant offers a deal—typically 50 percent or less of retail value—that is made available to potential customers for a limited time. Generally, it takes a minimum number of purchases to activate the deal, and the merchant can put a limit on how many deals they are willing to give as well.
What the customer pays for the deal is split between the merchant and the DDM, so if you are offering a $4 cup of yogurt for $2, you will get $1 for each customer purchase. Payment by the DDM normally occurs within three weeks of the customer’s purchase.
Many entrepreneurs do not like these new marketing tactics as they generate so little income and they have to sell the product below cost. However, the real return is not the money that you receive for the product but the advertising. Not to mention the ability to bring in new customers. If you can bring a new customer to your door, it is worth the sacrifice on the initial sale because, now that they know about you, they are likely to come back.
Another return that you get from these deals is that you receive funds even if the customer never actually uses the coupon, which occurs around 20 percent of the time.
If you are a business that deals directly with customers, especially retailers, look into using DDMs. The concept is relatively simple, but the returns are very high. They are a very economical method for bringing new customers into your business.
You can do this.
Sunday, April 17, 2011
Mindfulness Can Make You A Better Leader
“Leaders all over the planet are beginning to understand the benefits of purposefully learning to be more attentive and focused, non-reactive, and clear.” ~Saki Santorelli, EdD, Center for Mindfulness executive director
It is so satisfying when your personal and professional lives intersect. The art of mindfulness is one that I have been working on for some time, and it is now in vogue in the business world.
To me, "mindfulness" is living in the present moment without being influenced by the past or the future. That may sound glib, but it is really tough because our minds naturally want to dash back and forth between the past and the future and everything in between.
To illustrate, watch the way young kids play and interact. They do not really consider the past and the future because all they know is the present. Over time, however, our minds become more busy, and it becomes tough to live in the present moment. If we are able to get our minds to focus on the present, though, life is so much clearer and simpler.
Most mindfulness training starts with some form of meditation. Find a place to sit either on a cushion or the floor, and close your eyes. With your eyes closed, observe your thoughts. The most effective way to do this is to focus on your breathing. As thoughts or feelings arise, let them pass and return to your breathing. It may sound easy, but in reality, it takes some practice to get the mind to slow down.
Practicing mindfulness through meditation relieves anxiety and stress. I can personally attest to this.
You may be thinking, "That is great, Jerry, but what does all this have to do with leadership?" It is about finding clarity and getting to a place where you can make better decisions. When living in the present, the baggage of the past will not affect current decisions. Mindful leaders also do not fight change. If you are living in the present, resistance to change is not an issue.
To see things more clearly, you must have an undistracted mind. If your mind is busy, even at a subconscious level, your ability to focus and analyze is diminished. Now, I am not saying that mindfulness can replace knowledge, skill and relevant data in business decisions. Instead, all these elements should be utilized to get maximum benefits.
The University of Massachusetts is home to the Center for Mindfulness, which offers courses to help leaders bring mindfulness into their organizations. For iPhone users, there are many additional resources in the App Store under "meditation." Consider taking some classes on mindfulness. I promise it will change the way you see the world and your business with very little effort.
You can do this!
It is so satisfying when your personal and professional lives intersect. The art of mindfulness is one that I have been working on for some time, and it is now in vogue in the business world.
To me, "mindfulness" is living in the present moment without being influenced by the past or the future. That may sound glib, but it is really tough because our minds naturally want to dash back and forth between the past and the future and everything in between.
To illustrate, watch the way young kids play and interact. They do not really consider the past and the future because all they know is the present. Over time, however, our minds become more busy, and it becomes tough to live in the present moment. If we are able to get our minds to focus on the present, though, life is so much clearer and simpler.
Most mindfulness training starts with some form of meditation. Find a place to sit either on a cushion or the floor, and close your eyes. With your eyes closed, observe your thoughts. The most effective way to do this is to focus on your breathing. As thoughts or feelings arise, let them pass and return to your breathing. It may sound easy, but in reality, it takes some practice to get the mind to slow down.
Practicing mindfulness through meditation relieves anxiety and stress. I can personally attest to this.
You may be thinking, "That is great, Jerry, but what does all this have to do with leadership?" It is about finding clarity and getting to a place where you can make better decisions. When living in the present, the baggage of the past will not affect current decisions. Mindful leaders also do not fight change. If you are living in the present, resistance to change is not an issue.
To see things more clearly, you must have an undistracted mind. If your mind is busy, even at a subconscious level, your ability to focus and analyze is diminished. Now, I am not saying that mindfulness can replace knowledge, skill and relevant data in business decisions. Instead, all these elements should be utilized to get maximum benefits.
The University of Massachusetts is home to the Center for Mindfulness, which offers courses to help leaders bring mindfulness into their organizations. For iPhone users, there are many additional resources in the App Store under "meditation." Consider taking some classes on mindfulness. I promise it will change the way you see the world and your business with very little effort.
You can do this!
Sunday, April 10, 2011
Managing your Boss
“For a manager to be perceived as a positive manager, they need a four to one positive to negative contact ratio” ~Ken Blanchard
In the 10+ years I have been writing this column, people have regularly sent me requests for topics they'd like me to cover. The No. 1 most requested topic is how to manage a boss.
It is a common complaint, and employees really only have two options: either they learn how to deal with a bad boss or they leave, which is not a palatable option for most.
If you are one of those with a bad boss, you must figure out a way to work with the person. Unfortunately, you cannot expect your boss to change. Dwelling on your boss' shortcomings is not productive and will only make you feel bad.
All bosses — even the good ones — make mistakes, and some do not have the best skills to make each employee feel valued. Even so, you still must make an effort to do the best job you can.
Try to understand what motivates your boss, his or her goals, and how he or she is being evaluated. If you know what your boss values, you can easily figure out what to do to help achieve those goals. Your boss will appreciate your efforts and value you as an employee that much more.
If, however, you just cannot figure out what your boss needs to be successful, you need to ask. Nothing will flatter your boss more than asking him or her what you can do to help the firm or department be more successful. If you do not receive an adequate answer, which might happen, ask your colleagues if they can help you in this process.
We know marketing is a vital element of a business. For employees, it plays an equally important role in their relationship with their bosses. Employees need to market themselves to their bosses by communicating with them on a regular basis; weekly is the best frequency.
Keeping an open line of communication with your boss is important to managing your workload. Often bosses do not really know what all is on their employees' plates. The more you can communicate with them about your work load, the less likely they are to overload you.
If you have a problem with your boss, go talk to him, but make sure you take a positive, productive approach. Whether it is true or not, telling your boss how wrong he is will seldom yield positive results. Focus on the specific issue without making it a personal attack. For example, if you are concerned about a specific policy, explain how the policy makes you feel and offer suggestions for how it might be improved. Most bosses value constructive input from staff.
While managing your boss is not easy, it is something that every employee has to do. The more you can align yourself with your boss' goals, the better your relationship will be. A critical piece of this is marketing yourself to your boss on a regular basis.
You can do this!
In the 10+ years I have been writing this column, people have regularly sent me requests for topics they'd like me to cover. The No. 1 most requested topic is how to manage a boss.
It is a common complaint, and employees really only have two options: either they learn how to deal with a bad boss or they leave, which is not a palatable option for most.
If you are one of those with a bad boss, you must figure out a way to work with the person. Unfortunately, you cannot expect your boss to change. Dwelling on your boss' shortcomings is not productive and will only make you feel bad.
All bosses — even the good ones — make mistakes, and some do not have the best skills to make each employee feel valued. Even so, you still must make an effort to do the best job you can.
Try to understand what motivates your boss, his or her goals, and how he or she is being evaluated. If you know what your boss values, you can easily figure out what to do to help achieve those goals. Your boss will appreciate your efforts and value you as an employee that much more.
If, however, you just cannot figure out what your boss needs to be successful, you need to ask. Nothing will flatter your boss more than asking him or her what you can do to help the firm or department be more successful. If you do not receive an adequate answer, which might happen, ask your colleagues if they can help you in this process.
We know marketing is a vital element of a business. For employees, it plays an equally important role in their relationship with their bosses. Employees need to market themselves to their bosses by communicating with them on a regular basis; weekly is the best frequency.
Keeping an open line of communication with your boss is important to managing your workload. Often bosses do not really know what all is on their employees' plates. The more you can communicate with them about your work load, the less likely they are to overload you.
If you have a problem with your boss, go talk to him, but make sure you take a positive, productive approach. Whether it is true or not, telling your boss how wrong he is will seldom yield positive results. Focus on the specific issue without making it a personal attack. For example, if you are concerned about a specific policy, explain how the policy makes you feel and offer suggestions for how it might be improved. Most bosses value constructive input from staff.
While managing your boss is not easy, it is something that every employee has to do. The more you can align yourself with your boss' goals, the better your relationship will be. A critical piece of this is marketing yourself to your boss on a regular basis.
You can do this!
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