Chronoblog
Timekeeping Blog
Building a Business: The Golden Rule

The Golden Rule states, “do to others what you would have them do to you.” Notice that it doesn’t say “don’t do to others what you don’t want done to you.” Therefore, “do to others” implies an active engagement of treating others in the way that you want to be treated.  And most people want to be treated well.

How does the Golden Rule relate to our blog series on how to build a business?

As a service business with a remote hourly workforce, your employees are the building blocks of your business and it’s vital to lay a solid foundation. You want employees who work hard, are loyal and honest, dependable, committed and reliable. You want good employees who will stay with you for a long time. The alternative, a high turnover rate, can be crippling. We have had janitorial business owners tell us that 200% employee turnover annually is a conservative number!  That’s a vicious and constant churning of time and dollars to recruit and train new staff, pay overtime to existing staff to compensate and suffer through lower productivity.

It’s much more efficient and profitable to retain your good employees and limit the turnover. We have learned that this can be achieved by following the Golden Rule. Treat employees well to give them a reason to want to stay.

The best way to create and cultivate an efficient and long term workforce is to lead with the same type of qualities that you’re wanting from your workforce.  Build loyalty by being loyal. Develop trust by being trustworthy. Gain generosity by being generous.

How does this look from an employer’s perspective?

Chronotek has a “perk” system to reward and honor employees. These perks are designed to make each staff member feel special and valued, like a VIP.  Many are gifts, while others are special privileges.  A culture of trust and loyalty has developed.  An atmosphere of high expectations and high rewards has emerged.  And these high expectations don’t just come down from the top. It’s intrinsic amongst the staff.  Everyone feels an ownership stake. As a result, the turnover is minimal to zero.

The Chronotek model may be unique, but the basic principle of the Golden Rule can be applied in any business. Treat employees well. Reward their good behaviors. Create a culture that they can’t find anywhere else. Our telephone timekeeping system can help set apart your employees that should be rewarded. Do you have employees that have never been late to a scheduled job? Give them a $5 Starbucks gift card occasionally. What about employees who are consistently on target with job budgets? Give them a paid day or half a day off once a quarter. These employees will learn that you value them and word will get out to other employees that you are an employer who can be trusted to notice and appreciate hard work.

You may think that the Golden Rule strategy is too expensive to implement, but it’s probably more profitable than constantly dealing with a 200% turnover. And it would certainly simplify your management processes to have a more stable and consistent workforce. What is peace of mind worth?  It is not too late to try it in 2016.  You may enjoy it, and your employees will think you are golden.

 

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