The austerity cuts affecting the country are the most serious for decades and mean that businesses need to reassess how they operate, not least with regards to staffing issues.
Alex Pratt, entrepreneur and author of Austerity Business: 39 Tips for Doing More with Less believes that in the age of austerity, traditional attitudes to staff need to change to ensure that businesses are operating at their most efficient.
Alex explains:
‘The phrase ‘our people are our greatest asset’ is the biggest lie in business. Unless you’re an 18th century plantation owner in America, companies don’t own their staff, they just rent them and whether or not you own an asset, fundamentally alters your approach to investing in it. No one can afford to invest mindlessly in their staff, but instead need to focus on people who invest in their own human capital, rather than expect to have it handed to them on a plate.’
Staff management can be one of the most difficult things for managers to deal with yet it’s one of the most important parts of running a business. Alex goes on to say:
‘Too often, managers assume that one size fits all. In life and in business, that’s not true. Getting the most out of people is about inherent fairness, mutual respect and flexibility on both sides but we need to be aware that actions speak louder than words. If someone is perpertually late, don’t hesitate to tell them in front of the team, that it’s not acceptable.’
Packed with witty anecdotes, inspirational quotes and common sense advice on staff management, customer service and more, Austerity Business is a reinvigorating read for business leaders worn down by daily bad news.
Austerity Business is published by Wiley and is available from all good retailers priced £12.99
