How to Respond When Things Go Wrong – Part One

No business is ever safe, especially a small business. In today’s economy, a business can go under in a heartbeat and not always because of financial woes. For instance, employees could be injured, important information may be lost due to computer errors, or even a natural disaster can destroy your factory, office, or working space.

While it’s impossible to be prepared for every disaster, thinking ahead and having contingency plans is always a good idea. Being ready for the unexpected can help you keep your cool as well as your business. Here are some tips for planning for the worst:

1.     Figure out everything that could go wrong. This is important because it tests the vulnerability of your business. This goes well past simple things like time clock software being broken and encompasses things like mass computer failure or integral machine break-down. When looking at the risk assessment you should keep these things in mind:

·       List all the risks or threats your business can face.

·       Determine how vulnerable your business is to these threats.

·       Start prioritizing the threats.

2.     Develop a strong business plan. This will be known as an “EAP”, or Emergency Action Plan, which will help deal with everything you listed in step one. Sometimes these plans will be set by law and, at other times, you will be responsible for setting up the procedures. Here are some tips to help you through this step:

·       Write a clear written policy of your company’s chain of command.

·       List the people who are responsible for assessing risks to property and people.

·       Include instructions on how to shut down any equipment you may have.

·       Record facility evacuation procedures.

·       Include forms needed or procedures required to report any emergency.

With some forethought, you and your business can be ready for any number of incidents or accidents. While it is impossible to prepare for anything, having emergency protocol set can help deal with the unplanned incidents as well.

How to Delegate Productively

As a manager or leader in your business, you will find yourself delegating out work at some point or another. While proper delegation makes for a well-run and productive team, improper delegation of tasks can side rail and entire project. There are a few tricks that all managers can use to help make sure that tasks are proportioned out fairly, that hours on the time clock are met, and that work is set out in a way that encourages work instead of inhibits.

To reduce the risk of problems when delegating work, start by issuing smaller, easier tasks first. This limits the damage that can be caused in case someone fails. This also will help build the self-esteem of the person who took that responsibility if they succeed.

You should never limit yourself to just explaining what they should do either. When people realize how their work fits in the process, they can react better when things go wrong or when you are not present. Having a chance to innovate can sometimes bring out the best in employees.

Take a look at these other tips which will help you be a better delegator:

1.     Choose things that you can delegate “up”. This means picking things that are simple enough that you can pass off to an assistant like checking emails, picking up dry cleaning and so on.

2.     Choose things that you can delegate “down”. These are the items that you want professionals handling. For instance, you will want to hire an accountant or bookkeeper to do the numbers.

3.     Provide crystal clear instructions. Being able to delegate successfully starts with getting through to your people clearly. If someone doesn’t understand something, make sure they do by talking things over.

4.     Empower the staff. Give your employees enough responsibility to make them feel special. It goes a long way.

5.     Letting go. Some people can do tasks better than you can. Let go and let those with the strengths in that task do said step.

6.     Invest in long-term success. Choose employees that will stick around for a long time but make sure they are worth having around as well.

Do not forget the reality of the learning curve: the first task delegated does not always run optimally. Do not be tempted to take the matter into your own hands. Give your employees a chance and teach them where they went wrong. You will often be surprised at the improvement rate that shows.

Time Management at the Office

Every business is looking for a way to become more efficient while using less manpower. Each CEO wants to spend less money on manpower while increasing productivity. If you are in one of these situations, where the boss is making you take on more work in less time then you may want to continue reading.

Here are 9 tips on how you can increase your time management at work:

1.     Finding out which system works best. You should start out your week by writing down everything you should do that week followed by a daily calendar.

2.     Take back your calendar and what’s left of your life. Make sure you live with a purpose and ensure that technology is your slave, not letting technology enslave you. Be sure to remember that “neat” is not the same thing as “organized”.

3.     Project planning. Having the right software for planning projects is ideal. Microsoft Outlook is perfect for planning. You should also learn how to micromanage.

4.     Learn how to manage interruptions. This step will save you plenty of time. You will be interrupted every single day but how you react to it will define you as a time-saver.

5.     Get your calendar back. Taming a calendar is hard work, but it can be done. The first step is keeping the most important objectives first.

6.     Delegate a “must do” list. Every person will have things that they must do so keep these things separate so you do not forget them. Sometimes you will not be able to get around to the task and therefore you must choose someone else to do the work.

7.     Perform productive meetings. Meetings are important parts to a business. It all starts with people getting to work on time. Ensure that your time clock is up-to-date.

8.     Manage your projects, not the time. Know what is due and what can be put off in favor of something that is more critical.

9.     Create meeting templates. That way you know what to say and in what order, reducing time spent in the meeting.

How to Communicate Effectively With Your Employees

Your position as an owner or a manager doesn’t mean that you have to be hard on your employees all the time. You can be a listener when you need to be and caring when you have to be. Improving your manner and method of communication can help your business culture improve as well as give your employees the motivation to show up in the morning.

Look at the tips to help you communicate better with your staff so that productivity and efficiency are maintained and/or improved.

1.     Take Your Time When Building Relationships. Besides looking at job obligations, giving staff feedback and speaking about attendance concerns, a significant component of your function is to find out things about your staff. Once you understand your current employees’ individual performance styles, tastes and desires, you will gain their trust.

2.     Be A Great Listener. Very good communication is something that both parties must learn. Once you initiate interactions with staff, greet these individuals personally and listen closely and sincerely. Know about the other person’s gestures and vocal tones.

3.     Give Effective Feedback. Make sure your employees know that they are invaluable assets.

4.     Diversity.  Your workplace comprises of folks from widely different backgrounds who add up to achieve a common goal. Understand that they are all there to get treated as individuals although they also want to be judged independently.

5.     Personal Issues Do Arise. Every employee is going to have problems at home or away from work. Punching a time clock on time will not be as easy as everyone believes issues bring an individual down. Make sure you cut your employees some slack from time to time.

Management Tips for Accurate, Efficient Payroll

Payroll management involves more than monitoring the time clock. Nowadays, the payroll function is as complicated as ever, especially with federal government oversight of corporate accounting practices, several different types of automatic deductions, and international staffing. In such an environment, payroll calculations are usually automated, though some smaller companies still use a manual system to compute paychecks and hours worked. However, even in the case of entities with fewer than 50 workers, automated time clock systems are very common.

The best way to make certain that there are no major errors in payroll checks is to use a reliable and consistent method of calculating all check amounts. Whether your company uses electronic time clock systems or online time loggers, be attentive to keeping accurate records of hours worked for each employee.

Some modern time clocks do a variety of calculations that were unheard of just two or three decades ago. And some old systems still work, despite their age. A punch card system works well for organizations that have fewer than 50 workers.

For large firms, time loggers work well. In these computer-based systems, workers check in via their computer terminals. In some cases, computer-timing programs use a magnetic terminal for swipe cards. Large companies are especially susceptible to time fraud due to the impersonal nature of the systems and vulnerability to hacking. Some of the higher-end programs contain subtle but effective safeguards against such activity.

Whether large or small, every business should keep a separate bank account for payroll funds. In fact, a patchwork of federal and state laws require certain types of entities to maintain separate accounts for payroll purposes. Aside from the purposes of the law, it is a wise practice to label a bank account specifically for payroll. When tax time comes, companies who have accurate records and segregated accounts will be in a better position to prepare accurate tax returns quickly and simply. When it comes down to it, a time clock is the basis for vital payroll calculations, pure and simple.

Common Payroll Mistakes to Avoid

Photo Source: bookkeeping-blog.com

The IRS has several rules and regulations when it comes to governing payroll. Your mission, whether you are a business owner or payroll manager, is to avoid running into problems with the IRS. Avoiding an audit is a goal for anyone, and can be done partially by not making mistakes with payroll.

Payroll seems so simple. Yet, one mistake can bring problems both from the government and your employees. According to the IRS’s “Employment Tax Research Project” payroll mistakes tend to fall into four categories. Whether because of wrong time clock data or deliberate fraud, payroll mistakes tend to occur in:

·       Fringe benefits

·       Worker misclassification

·       Payroll taxes

·       Executive compensation

Broken further down, common payroll mistakes made by businesses tend to boil down to:

1. Classification of Employees as Independent Contractors

2. Failure to Subject Vendor Payments to Backup Withholding

3. Failure to Issue Form 1099s

4. Not Including the Fair Market Value of Gift Cards, Prizes and Awards in Employees' Income

5. Failing to Timely Deposit Withheld Taxes

6. Failure to Timely Deposit Withholding Taxes on Vested Restricted Stock and Exercise of Stock Options

7. Incorrectly Excluding Expense Reimbursements from Reportable Wages

8. Failure to Include Nonqualified Deferred Compensation in Executives' Incomes

9. Not Including the Appropriate Value of Taxable Fringe Benefits in Employees' Income

10. Excluding Travel and Commuting Expense Reimbursements from Employees' Income.

Avoiding these mistakes can be as easy as investing in a new time clock or even hiring outside payroll management. Either way, it is always in your best interest (and your employees’ interest) to have an efficient, effective payroll system in place.

Working With Others

If you share workspace with others, there are quite a few written, and unwritten, rules you should know. Of course, not all common work areas are the same, but in general, it is best that you try to be self-sufficient.

A time clock might be at the entrance and perhaps you need to punch in or just use it for specific jobs. Know the rules about the time clock and who should use it.

It also helps to know how much talking and chatting is tolerated. Some workspaces are silent, but most allow at least a moderate hum. Try to learn the upper limits of noise and adhere to the common rule.

Keep in mind that you should not bother others with questions that pertain to your own work. If you are self-sufficient, moderately quiet, and know about time clock rules, a common work area can be your friend.

The secret to getting along in common work areas has to do with friendliness. Try to stay in the social network and do not abuse the allotted time for work in the area. Often, shared workspace is used for events in the evenings, so you need to know when to make a timely exit. A visible time clock can help with this detail. Networking with the other employees and respecting the space usage policy are two habits that will make you a good neighbor to your comrades.

Finally, remember that the kitchen area is for your use, but the food is not. Unless a food item is specifically marked as a group item, do not touch it. Bring your own food and eat it in the kitchen. If others do the same, everybody will be happy and there will be no bad feelings about ‘stolen’ meals.