23
Nov

Would you rather have people work for salary or work to contribute?

By ‘Lola Thompson Makinde

When you walk into one of John Lewis’ 46 stores in England, you will be served by a genuine stakeholder of the company, not just a committed employee. John Lewis has adopted a  unique business model that ensures that every employee is not just a  unit’s manager, but a  partner of the business. A partner who has a right, once he gets employed by the organization, to knowledge, power and profit sharing. This ‘Out-of-the-Box’ model, might be extreme to most Nigerian companies, but it is noteworthy that a store which is only 10 years old, has a turnover of over  a hundred million pounds and is favorably competing with brands like Marks and Spencer that have been around since 1884.

What can we learn from John Lewis’ culture about a well-disposed employee who is not only engaged but adequately empowered?

Let us look at the 3 key rights given to the John Lewis team members (partners) that make their business outstanding:

  1. The right to knowledge

Several studies have shown that, where clear-cut information has been exposed to team members about the state of a business or key reasons why decisions have been made, productivity of employees improves. In addition, there is improved quality as employees see the need to improve. Secondly, there is an increased respect for management’s decision as they are aware of the reasons behind such decisions. Thirdly, knowledge promotes a work environment filled with trust, which reduces staff turnover.

  1. The right to power

An organization with the culture of providing  autonomy to employees encourages them to take  ownership of their work, know that they are valued and also empowers them  to make an impact. This in turn positively affects productivity. You can empower your team by:

  • Encouraging feedback. Empowering your employees starts with encouraging feedback. Train your team on how to give and receive consistent positive or constructive (negative) feedback. This will foster good communication and blind spots to the management will be brought to the fore.
  • Rewarding self-improvement. When a team member passes an exam or joins a professional body, support by paying the fees and/or celebrating him/her. When a team member identifies a training program that could improve performance, provide encouragement, take the time to provide some guidance or counselling. Allow your employees to stretch out on their own and even lead others to do same. They may stumble, but they will learn a lot and cultivate the respect of their colleagues while preparing to be leaders of the organisation themselves.
  1. The right to accountability

Communicate when they are not meeting expectations. To maintain accountability you must ensure they understand the consequences of failure. You need to be consistent and ensure you use the same standards and rewards for yourself as a leader, as well as, all employees. For effective results, as the leader, you need to be seen as accountable to your employees as much as they are accountable to you.

Conclusively, in answering the question, “Would you rather have people work for salary or work to contribute? “ think of how big you want your business to grow and how important your employees are towards achieving that vision.

Employee engagement is having employees who are not just disposed to their employers, but who feel like partners in the business and are therefore willing to ‘contribute’. In the end, achieving employee engagement is never a quick fix, but it’s worth the efforts.

3
Nov

Start Smart Series – Part 1 From Business Plan to Business Day 1

by Tubosun Aliu

For an aspiring entrepreneur, one challenge in the journey to starting your first business is the
question, “Where do I begin?”
There are no simple answers to this seemingly simple question, as starting from the very beginning is
the only way. There are no shortcuts on this entrepreneurial journey and you have to spend time,
intellectual resources and perhaps tap into your social capital to get started.
However, in order to make this journey easier, the important question that an entrepreneur needs to
constantly ask himself/herself is “Why am I doing this?”
Starting and owning a business takes a lot of time and energy, and can be physically, emotionally and
psychologically challenging. You might have to spend hours studying and researching, finding the right
location, technology, people, and working out your strategy, marketing plan, operational plans, etc.
This would eventually take its toll on you and you will most likely get to that point where you ask
yourself, “Why am I doing this again?”
Having an answer to the question of “why” is one of the things that would keep you going and push
you beyond that critical point when your momentum seems to be failing. When you successfully cross
this line of doubt, you become almost unstoppable!
The question then is to define what is important to you and the motive behind your wanting to start a
business. Yes, a lot of folks will say “of course, it’s to make money”, and I agree that making money in
business is very important and making profit is extremely critical. But the fact of the matter is that
there are a million and one ways to make money and a million and one businesses that you can do to
help you achieve that purpose, but you chose this particular business! So why this business and not
another?
The “why” behind your business is the motivation that keeps you going. This might be expressed in a
mission statement or might just be a strong conviction of how you believe you can bring about
positive change in the society, or improve the quality of lives of your target customers or even
employees.
Whether it’s a slogan or your core mission statement, this will be your strength on your journey and
ultimately continue to keep you fired up!