5 Challenges That Can Become Opportunities for Small Business Owners
By Tiffany Castagno, Transformative HR Curator of Culture; CEO & Founder, CEPHR
We’ve all seen some level of challenges throughout the Pandemic. How we respond to them is the differentiator. We can choose to leverage the challenges as opportunities or to allow setbacks to suppress decision-making. Last week, I operated my business via Mobile Phone because my computer experienced some issues that made it inaccessible to me.
I maintained my regular schedule of activities (including being a guest on SLG Impact’s “THIS” Podcast. I adjusted around the technological inconvenience I was experiencing as was necessary and as best I could (with Grace to myself, just as I’d afford others in a similar situation). We are more resilient and adaptable than we think.
As Business Owners, a lot comes at us, but we can choose to see it as a Learning Opportunity and a chance for Continuous Improvement. Let’s take a look at some current challenges facing Small Business Owners today and how to leverage them into opportunities.
Hiring and Retaining Diverse Employees
Celebrate your Current State- Take a look at the Rockstars already in your organization!
Have a diverse Hiring Panel representative of your Community and those you’re trying to hire but don’t Tokenize folks to meet a Quota- Hire for skills and potential
Make objective hiring decisions
Diversify your Outreach to diversify your talent pool
Employer Branding is key- Get Social on LinkedIn!
Have an On-boarding Plan for at least the first two weeks- best practice is first 90 days
Do a proper Job Analysis and update your Job Descriptions at least once a year
Update your salaries to market on a regular cadence
Evaluating and Measuring Performance
Increase feedback loops so that Performance Management isn’t treated as a once-a-year event but an ongoing conversation
Give constructive feedback, even when it’s tough
Ask your employees what type of feedback they need and how often
Have a regular forum where feedback occurs on a consistent schedule
Make sure that employees know how they will be rated for their performance, when they can expect any salary adjustments, and what the process is
Ensuring Equitable Policies, Procedures, & Practices
Have an Employee Handbook and keep it updated
Survey employees and take action
Focus on your Mission, Vision, and Values to shape your Culture
Share your Values with employees and get them involved in shaping them - Culture is everyone’s responsibility!
Live your Values
Provide Pay Equity- Review Internal Equity and review the external Market
Be transparent and have a Compensation Philosophy to share best practices and how your organization approaches pay
Balance organizational health & safety with providing proper, equitable flexibility
Seek to Understand how EEs feel and take action on the data you obtain
Have and communicate policies and procedures- update regularly
Be willing to embrace uncertainty and change/adapt quickly
Decide what’s best for you and your business vs solely relying on what others are doing
Know your folks and share time with them- Actively Listen to best support them
Give employees a voice
Have a firm understanding of your current state with data and your turnover data (reasons, tenure, etc.)
Conduct Exit Surveys
Provide Role Clarity
Make sure employees have access to Conflict Resolution resources
LISTEN TO TIFFANY ON THIS. with Shauna Griffiths
Spotify 👉 https://lnkd.in/dkfj-p2b
Apple Podcasts 👉 https://lnkd.in/dMNVz5iP
Google Podcasts 👉 https://lnkd.in/dgA3adAm