Just because you are a small business, doesn’t mean you need to act like one! Too many small business owners think that they can’t afford to implement high-quality business organization services like a major corporation, and their productivity and employee morale suffers as a result. But it’s much easier than you think to see big results for a small company, so long as you have the right guidance.
Here are 5 tips to treating yourself and your employees to the big company advantages your small company deserves!
1. Benefits – Most small companies fear this; they feel it is something they simply can’t afford. This may not be the case. Talk to a benefits advisor about options for small businesses. Taking this expense into the company may be better than coming out of your own pocket personally, and you will be able to attract (and keep) better candidates when you have more to offer!
2. Payroll services – You may be writing a cheque (when you remember) or emailing transferring funds (provided you aren’t over your daily limit) to your employees. You might even have a sticky note on your calendar to remind you to pay your payroll taxes. Treat your team to a real payroll service. Many payroll services are affordable and geared to small businesses. These payroll services offer direct deposit into your employees’ bank accounts, automatic payroll tax payments, and self-service paystubs. You and your employees will be grateful on payday!
3. Keep your staff involved in your state of affairs – OK, you don’t have to open the books and let them scrutinize your every move, but let them know what your sales are, what your targets are, where you are falling short, and where you are exceeding expectations. Give them a chance to offer suggestions. Chances are that if you are a small business, you have already gotten to know your employees well – Why not make them a true member of your team?
4. Show your appreciation by offering things you can afford – Maybe an employer sponsored RRSP plan and stock options just aren’t in the cards right now, but what about paying for the employee’s gym membership? Offer your staff a corporate membership to Costco so that they can shop for their family! Many items can be reasonable business expenses for you, but real motivators for your employee. It doesn’t always take big bucks to show you care!
5. Outsourcing – As a small business owner, you feel you must handle all tasks yourself mostly to save money. Big companies take advantage of division of labour. Employees handle day-to-day tasks while the executive team focuses on the growth of the business. If you are losing focus on growth and finding yourself run down with daily operational tasks, then maybe it’s time to take advantage of outsourcing. Do you what you do best and outsource the rest!
NumbersWise Business Services Inc.
26 Jason Crescent
Halton Hills, ON L7G 4Z4
(416) 918 -9397