| Welcome to Next
Step Solutions E-Newsletter
Dear
Margaret, June greetings
from Next Step Solutions, Inc.! We are enjoying the sunshine and
slightly warmer temperatures as we reach the summer months. Business
remains fairly sunny, too, although the stock market seems a little
flustered as I write this.
Economic news
continues to be good, however, and we should remain encouraged. At
the end of April, the Wall Street Journal Online Alert reported that
the U.S. economy "roared out of a soft patch on its fastest run in
nearly three years, powered by consumer and business spending."
According to the item, our gross domestic product increased at a
4.8% annual rate during the first quarter of 2006. The rate was well
above the 1.7% rate in the fourth quarter of 2005.
So, with this good news in mind, we continue to focus on growth,
specifically on the effect of adding more employees to your staff.
The new staff helps handle additional work, but will also create
some new requirements. We look at a couple of them below.
Adding Staff?
Some things to think about...... by Margaret
Purvine
In our last
newsletter, we addressed the issue of finding and hiring good
employees in a competitive market. Let’s assume you have added those
great new employees to your staff. You now have more employees than
ever before. What are some things you want to think about?
First, look at
your management structure. Younger, smaller companies with a small
staff typically have one manager. Everyone reports to the CEO/owner.
As your company grows and the staff expands, having all employees
managed by one individual, no matter how good a people manager,
becomes unwieldy very quickly. If your growth plans call for an
expanding staff, start thinking about adding another layer of
managers or supervisors. You can hire managers or offer lead
employees the chance for development and promotion. If you go that
route, don’t forget to consider training. Good management doesn’t
just happen!
Second, look at
your employment processes and paperwork. If you don’t already have
one, it’s time to develop an Employee Policy Manual. There are
several ways to tackle this particular task. You could draft the
entire document yourself, but this might not be the wisest use of
your time. You can use one of the many programs and templates
available as a starting point and edit the document to fit your
company. You can also go to outside professionals for assistance,
such as your business advisor/consultant or your attorney. They can
develop the manual with your input. Whatever method you choose, run
the final copy past your attorney to make sure it covers you
adequately.
Establishing
and documenting information about company policies, employee
benefits, and what you expect of your employees addresses two
important goals. First, it protects you and your company legally.
Second, it provides your employees with clear direction, something
they will appreciate.
Upcoming
Events Lunch &
Learn Seminars - June 20 and 22
Our May
seminars on the Purpose Driven Business were very well received. We
are offering them again this month, so if you missed them in May,
consider joining Next Step Solutions, Inc. and our partners from
Waddell & Reed, Inc. - Andrea Kinnaman and Alex Tulintseff - in
June to learn about a structured approach to achieving your goals in
your professional business as well as in your personal business -
your personal finances.
Our Lunch &
Learn seminar, “The Purpose Driven Business – an intentional
approach to achieving greater profit and success”, will be
presented June 20th in Seattle and June 22nd in Bellevue, from 11:30
AM – 2:00PM. The cost is $25 and lunch will be provided. Seats are
limited, so don’t delay! For more information or to register, call
425.918.1910, email info@nextstepsolutions.com, or visit our
web site.
Free Resources
from Next Step
Words of
Wisdom Quotes from
business movers and shakers
"A goal is a dream with a deadline."
Napoleon Hill (1883 – 1970) an American author, who is widely
recognized as the founder of the modern genre of personal success
literature. His most famous work, Think and Grow Rich, is one of the
best- selling books of all time.
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