Tips for Managing Employees  

Clear Metrics

There’s a line that I use when a new employee starts: “There will come a time when either you outgrow the company or when the company will outgrow you. My role is to make sure that you have a good time and get good value for as long as you are here.” When someone comes on board, go through your company’s core values. Explain how you operate and why that’s important to the business. It also gives you the ability to hold each other accountable because they know what you expect of them. We also give new employees a description of exactly what they are responsible for. Each responsibility needs to be carried out effectively, efficiently, and excellently. Because we have a metric with those three outcomes, we can give them specific feedback.

—Meny Hoffman, CEO OF PTEX GROUP AND HOST OF THE LET’S TALK BUSINESS PODCAST

Added Value

1. Pay competitive salaries. Salary is important because people need to pay the bills — that’s why they are working. If the company grows, make sure your employees know that you appreciate that they were part of the growth, and if you can reward them with a bonus, it can go a long way.
2. Share positive feedback. Whether or not we admit it, everyone needs to be told that they are doing well. It’s part of our psychological profile.
3. Give employees a lot of leeway. People are more creative than you think they are. Let them take charge, and they will produce more than if you stand on top of them.

—Menachem Lubinsky, CEO OF LUBICOM

Make It Personal

It goes without saying that every employee needs to either be content with how much they are making, or at least feel like there is potential to reach their financial goals. But there’s more to it than just the paycheck. Be complimentary, show that you notice their hard work — especially when they go above and beyond — and be sure to reward their results. Remember, people like to be recognized for their efforts.

One more tip I would add is that as much as the workplace is meant for business, getting to know your employees personally over time definitely pays off. Try to learn a little bit about their lives outside of work. Ask about their family’s well-being, or wish them mazel tov on their sibling’s recent marriage, or whatever is going on in their lives at the time. It goes a long way when you show how much you care and that you are personable and relatable.