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You have a visionary product, laser focused goals for the next quarter and a stupendous team to help you achieve this. Since it is the initial part of your company’s journey, your team obviously puts in extra hours to make it to survival in the competitive market. This very team is your strength. And work pressure should not take the needs of this team for granted and make them work for longer hours without recognition.
Most small businesses rely on the belief that initial work is important and once due revenues pour in, everyone will be rewarded. Although this is right, sometimes this time stretches far too long and exhausts employees if their lives are not made easier. As a most basic example, in this time, employees are expected to work overtime, give their best and also take care of their own attendance by being reminded to sign in and out every day, keep track of their leaves and manage to remember details of attendance if asked. This has frustrated many people I know including myself, as no one wants to keep track of things which are so mundane.
Even the most enthusiastic of employees can get demotivated if pushed up against the wall for a long time without being rewarded in some way. Small businesses are the heart of entrepreneurship, passionate visions, and enthusiastic talent. The learning curve in start ups and small to medium enterprises is immense, owing to the fact that it has fewer employees who are presented with truck loads of ownership and responsibilities. If your employees are giving you so much of their time and resources, they need to be rewarded for it by getting paid accurately and on a timely basis. [easy-tweet tweet=”Finding the right talent is way too hard in itself and if you do manage to crack that, do your best to retain them.”] experience payroll losses related to buddy punching. According to Nucleus Research, these losses average 2.2% of gross payroll.