Business growth becomes the main goal of every start-up after five years into operations. Many of these start-ups and small businesses start investing back into the business after paying their debts. However, not many of these businesses successfully grow their companies, and funds don’t have anything to do with it. Sometimes the simplest ways are the most effective ones. Here are some simple ways you can improve your business and develop growth into your company.
Invest in your Employees
Many companies make the mistake of never investing in their employees, both financially and emotionally. Did you know that recruiting new employees can easily be the biggest expense that your company can make every year?
The Society of Human Resource Management (SHRM) ran the numbers on this, and it’s estimated that recruitment of a new employee can cost you an average of $4,100. This accounts for the 42 days you have to train them before they can function like an average employee in your company, and this just the average. Costs can run as high as $5,000, depending on employee performance. If you’re spending this much money in your employee’s best interest to get the best out of them, you can do this by investing in them.
You don’t have to spend money on them at first. One of the best investments you can make is praising them for good work in your team and correcting them on the mistakes they make often. As a business owner, you also have to play the role of a coach, especially if you have a tiny but intimate business. Many of your employees look up to you, and it’s in your best interest to look after them.
By doing this, you can help increase employee satisfaction in your company on an emotional level. This can help you avoid the majority of employees who dislike their boss. A well-liked boss in the company can help increase its morale and overall productivity during day-to-day operations.
Go for Training
Training is one of the most efficient ways your employees can learn the necessary skills to work together. As a company, teamwork is key, and you can improve this teamwork in cheap and easy ways through training. The first thing you need to do is conduct a simple needs assessment. Ask them regarding the skills they think they lack when it comes to learning together. Then you can start tallying those needs and then address them through a simple training plan.
There are many activities you can do on the internet for your training plan. Your main thrust should be the goal of each activity. Ask them how they feel after each activity, and then ask them how they can do better. You’d be surprised how many of your employees know how to handle a particular problem by themselves when given the necessary resources for it.
You don’t have to invest so much money to make it look great. All you need is to keep it clean every month. A clean office can help improve your company’s efficiency while also driving more walk-in customers into your business. You don’t have to spend so much on this physical aspect in your office. You’re free to utilize the services of janitorial cleaners, which cost less than $200 a month.
If you’re interested, you can create cleaning schedules for your employees or invest in automated machines to keep your office clean. You can also do general cleaning every three months, and it can be a fun training exercise that your employees can do. Try out various ways to keep your business clean, as it can be your best asset in the long run.
Improving the natural lighting of your company office is one way you can increase efficiency by 70%. If you’re looking to spend a couple of dollars on renovating the office, spend it on this particular aspect.
It has been found that natural light can help reduce eyestrain, make them more active, and improve the moods of employees. It’s also a great way to spend less on your electricity bills. Investing in natural light requires you to invest in various glass windows in your company. A skyline can give a lot of vertical natural light to your employees, while huge floor-to-ceiling windows can drive natural light from different angles.
Consider your budget before doing this, as a single-window renovation can cost between $700 to $1,400. This is cheap compared to other renovations you can make for your office, but it is still an expense, nonetheless. Considering the helpful benefits it can give you. The price is worth investing in.
Here are simple and cheap ways you can help grow your company. These ways can help you invest more time in your company without the known drawbacks. It can also add some spice and variety to your mundane office life. This in itself is already a benefit and can help your company grow little by little.