Motivating and Retaining Talent while keeping Employee costs down!
These continue to be tough trading times for most small and medium sized businesses. Inevitably when achieving sales budgets is problematic, most business owners/ directors scrutinise all their variable costs usually targeting employee effectiveness and reviewing the number of employee's they have!!
Mojo has recently been working with a client in the Leisure sector, who wanted to hold onto key staff whilst at the same time, as a result of internal restructuring, make some staff redundant - ok that was hard enough - but where to start and how to ensure a fair redundancy selection process has been followed?
Not to mention avoiding a potentially costly Employment Tribunal claim, as well as all the management time that would be soaked up dealing with all the linked people issues ......when they should be totally focused on winning more business !!
For bigger companies with their own in-house Human Resources function, to support them, this would probably not be too big a problem – but for our client - they needed immediate, practical hands on support.
Mojo worked closely with the client (by coaching the co –owners) and provided a step by step process for the Redundancy programme including: consultation guide notes, 1-2-1 briefings, a clear simple to follow process, all necessary letter/ document templates and 24/7 email and telephone support. Mojo also attended key meetings acting either as a management witness (+ taking notes), or when appropriate, as a trusted confidant (offering pragmatic advice).
Mojo suggested introducing an Appraisal process (and Bonus scheme) to encourage key employees and their line manager to engage in a dialogue about the individual’s performance and identify any training or development needs they may have. In addition the scheme’s provided an opportunity for the employee to request any additional on job support that they may require from their manager or employer.
The linked, self-funding Bonus scheme also aims to reward its employees for their contribution to improving the overall company performance and where appropriate, to recognise their individual excellence and extra effort in their own job role. Performance improvements will be measured each year against a set of agreed company and individual objectives. These will be modified as necessary from year to year, to take into account changing business and job role priorities.
Mojo ensured the restructuring process ran very smoothly; and that the redundant employees were treated fairly, with dignity, and provided with a slightly enhanced package – as well as receiving some tailored Outplacement support. This avoided costly and time consuming Employment Tribunal claims and allowed the affected employee’s to leave on reasonably good terms.
The Appraisal and Bonus schemes also allowed employees to share in the success of the business, have their say and has encouraged implementation of change and new ways of working. It also allowed objective feedback between the company directors and their employees and helped attract, retain, and motivate employees.
For the business the overall impact has meant retaining talented, motivated employees (avoiding expensive re-recruitment and loss of productivity), more focused on the companies’ sales budget at the same time mindful of cost constraints. This change was achieved with minimal disruption to the clients' day to day business thereby keeping costs down - that's the Mojo difference!!
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- Sir Richard Branson, Virgin Group.
"The success you have had is a fitting reward for your hard work and commitment"
- Alan Giles, Fat Face.
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- Christopher Foyle, Foyle's.