“Men” for a firm refers to human resources or “labor” employed to carry out certain duties in the organization. Labor forms a major asset for any small business and because of this importance, poor management can cripple or ground the firm in a twinkle of eye.
The wages bill could be the biggest item of expenditure annually yet it is vital that maximum utilization of labor is obtained from this large cost. This is not advocating for slavery of workers, but the realization that a happy and contented work force is more productive than a disgruntled one.
The most important asset that any small business has is its human resources. This may consist of the owners, family members and employees. In any case, these are the individuals who make the sales, provide the service or manufacture the product. Their efforts determine the degree of success in the small business, and they must be properly motivated.
Managing men in small businesses should involve Manpower planning, Recruitment and Selection, Training and Development, motivating and Compensating the work force. The owner manager of a firm should recognize the strongest potentials of men and make use of them.
Poor men management will result to: a high rate of turnover which causes the firm to lose vast sum of money and other related resources. Poor management of employee can also make customers to be unsatisfactory in the services provided. This will lead to decline in sales for the firm and consequently additional cost for the business.
Remember; the measure of asset utilization is its profitability and this leads to growth and development of the small business.
The wages bill could be the biggest item of expenditure annually yet it is vital that maximum utilization of labor is obtained from this large cost. This is not advocating for slavery of workers, but the realization that a happy and contented work force is more productive than a disgruntled one.
The most important asset that any small business has is its human resources. This may consist of the owners, family members and employees. In any case, these are the individuals who make the sales, provide the service or manufacture the product. Their efforts determine the degree of success in the small business, and they must be properly motivated.
Managing men in small businesses should involve Manpower planning, Recruitment and Selection, Training and Development, motivating and Compensating the work force. The owner manager of a firm should recognize the strongest potentials of men and make use of them.
Poor men management will result to: a high rate of turnover which causes the firm to lose vast sum of money and other related resources. Poor management of employee can also make customers to be unsatisfactory in the services provided. This will lead to decline in sales for the firm and consequently additional cost for the business.
Remember; the measure of asset utilization is its profitability and this leads to growth and development of the small business.
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