How To Avoid Conflicts Between Leadership And Entrepreneurship In Booming Startup Culture

How To Avoid Conflicts Between Leadership And Entrepreneurship In Booming Startup Culture

A startup with an unestablished culture where roles and responsibilities overlap might often see conflicts amongst its leaders and owners. Reconciling between people and diffusing these conflicts to meet the organisational objectives work is the key to success. Even though conflicts between two different minds cannot be avoided, taking steps to reduce the number of conflicts by incorporating healthier governance mechanisms, and having realistic expectations is the way to build a progressive business. Startup entrepreneurs are usually identified with being young, dynamic, positive and highly ambitious. With these traits, they quickly make their mark in the market, but sustaining their image and being constantly profitable can only be achieved with experience and expertise. At such a juncture, founders feel a dire need of hiring leaders with a proven track record of delivering results. While entrepreneurs are confident about their own vision and believe that only they can take their startups to success, these hired business leaders come from different industries with a different stack of experiences and perceptions with an aim to produce positive results. They not only have the knowledge or expertise to get things done better, but they can even sense invisible threats and opportunities and capitalise upon. This perception difference may lead to a conflict with leaders often disagreeing with the business owners over the do’s and do not’s of the business. Entrepreneurs need to be wise enough to benefit from the experience of these veterans rather than pursuing their gut feels. As intelligent businessmen, entrepreneurs should be willing to implement the Pareto’s 80/20 principle and give away a 20% of their policies to make the...
From recognition for hard work to fitness facilities, 7 proven ways to retain employees

From recognition for hard work to fitness facilities, 7 proven ways to retain employees

Today, employers offer a host of benefits besides good pay packages to encourage employees productivity and retention. Because it is their talent which improvises the limited resources and curtails the organisational cost: Yogesh Sood A good team of working professionals means fair chances of achieving the company’s goals and objectives because the performance of the employees will decide the performance of a business in the future. Good employees are as essential as working capital for an organisation to grow and sustain. That’s why the majority of young entrepreneurs perceives talent retention as the key to profit maximisation. High business turnover is the strength of a company, but high employee turnover can convert this strength into a big weakness. High employee turnover rate severely affects the performance as well as the reputation of a firm, in the long run, it inflicts unnecessary cost burden and retards the overall growth of an organisation. A low investment but high productivity is the great success mantra of present times growth driven organisations. Today, employers offer a host of benefits besides good pay packages to encourage employees productivity and retention. Because it is their talent which improvises the limited resources and curtails the organisational cost. They are investing a sizeable share of their annual budget in retaining their employees. Despite all, if an organisation is failing to retain its employee for a longer duration, then it is really a serious issue which should be resolved very strategically. Below is a list of varieties of innovative as well as proven ways to retain the employees. Recognition for Hard Work In addition to higher salaries and...
Why businesses should invest more in employee training to enhance profit margins

Why businesses should invest more in employee training to enhance profit margins

Many early stage startups expect new employees to acquire skills on the job, while some large corporates too generally don’t invest much in long-term employee training programs. Companies don’t train workers anymore because of different apparent factors such as the changing nature of work and constant job hopping by employees. But businesses should continue to invest in all their employees. In fact, these are the people who plan, process, and propel a business and help to achieve its ultimate goal, which is profit maximization. Every person in every department works for this supreme objective, directly or indirectly. Many falsely presume that only sales and marketing people are responsible for revenue generation. In practice, be it a production engineer or an account manager, a market analyst or an HR executive, all contribute immensely to maximize the business profit. Only those organisations where all people work with solidarity achieve annual targets and get success in the long run. As per the HR Magazine, companies that invest $1,500 per employee annually on Teaching and Learning (T&L) activities earn 24 percent more profit margins than organisations with lower training budget. A similar study conducted by The American Society for Training and Development (ASTD) reveals that out of 2500 companies firms which had provided comprehensive training to its employees availed 218 percent more income per employee than companies with less aggressive and non-comprehensive training approach. Now, it is a firm belief of a majority of corporate giants all over the world that by leveraging technical and professional skills of the employees, businesses can make higher profits without endangering their sustainability. How to gain optimal...
What is the Clear Correlation Between the Culture and Organization Performance?

What is the Clear Correlation Between the Culture and Organization Performance?

A company which stresses on innovation, teamwork, and welfare of the workforce, performs better than one which is identified by stability, aggressiveness and a strong emphasis on outcome. According to a research published by the Wall Street Journal, organisations with a positive culture generally earned greater profits in the long run and those that laid little importance on improving their culture turned less profitable eventually. Even, successful companies without a positive culture are likely to see a decline in their performance over a period of time ultimately. A culture that engages and motivates employees results in company’s bottom line performing efficiently.   Innovation and Productivity Every employee at work is unique, and putting them in a prison of a large number of Do’s and Don’ts is counterproductive and reduces job satisfaction. On the contrary, employees who receive more freedom to innovate tend to be motivated, involved and satisfied at work. Innovation generates a sense of accountability and responsibility with employees showing increased awareness of organisational strategic objectives. A welcoming & pleasant environment opens to ideas and autonomy leads workers to thrive at work and increases job satisfaction whereas, a dull workplace where innovation, creativity, and initiative are discouraged provides little satisfaction or motivation. Knowledge Sharing and Productivity In the past, machines were thought to be main assets of an organisation, but with ever changing technology and needs, it is the knowledge that has become of vital importance. It is the workforce that owns this important quality which refers to their ideas, creativity, experience and expertise. Sharing of this knowledge stored within the chests of individuals increases the effectiveness of...