How can you avoid a banking crisis in your business?

One of the reasons I believe many of these companies (and that’s not just banks) get themselves in trouble, is they have fostered a behaviour of success at any cost. That it doesn’t matter what it takes, as long as you win.

Clearly, this has enabled employees to feel justified in falsifying information for the greater good.

Just how do you stop employees acting inappropriately?

Of course, you need all those important HR related aspects in place – policies, procedures, staff handbook, that all articulate expectations, and what is, and is not, acceptable behaviour. Operations manuals determining in finer detail, the day-to-day tasks of the business, can back that up.

But it goes much deeper than that.

I am guessing it is going to come as no surprise to you, when I say it needs to be led from the top. You have to articulate and demonstrate your set of values and ethos. And never is that more true, than in an owner managed business, where the vision and ethos of the business is intrinsically entwined with your values.

Fostering a climate of trust is essential. And that goes both ways – it is just as important that your staff trust you, as it is that you trust them. When they trust you and believe in you they will want to do a good job. And that trust, together with the moral compass you have given them, will guide them on what is right.

To make this hugely effective, your team need to be engaged and motivated in working for the organisation. This is so pinnacle to the success of a business, that I have blogged about different aspects of motivation, and will continue to do so.

Naturally, this will be underpinned with exceptional performance management – gathering and giving feedback, checking in with your team. Notice, I said, “checking in” not “checking on” – there’s a huge difference. It goes without saying there will be times when underperformance needs handling, but having all this in place allows you do that effectively.

I know this sounds very simple, and we both know it is anything but. However, if this excites you and you would like to explore it for your business, then please contact us on 01256 328 428.