How to Recover your Business Growth After a Walkout
Having a company comes with a lot of risks, from financial to the loss of reputation. Even if you run a ship-shaped company. And walkouts are a genuine possibility. It’s not something you can avoid, but it’s something you can handle right to ensure your company’s survival.
Take into account that you might need funds to deal with this situation, so have at hand an option for a merchant cash advance to deal with the fallout.
If you are already in this situation, the first thing you need to do is calm down, gather your thoughts, and then make your first moves. If you are preparing for the future, now that you know that the possibility for a walkout exists, take some steps to deal with it when it happens and implement good policies to prevent them.
Make use of your open communication policy. And if you don’t have one, implement it. Uncertainty is a shadow that creeps into everyone’s mind. Shut it down from the first moment with a discussion about what happened, why and assure your remaining team that steps will be taken to deal with the situation and make it better for everyone and take advantage of the situation to know who you can count on and ask them to bear with you while you find a replacement.
Learn from the experience. A walkout situation doesn’t come out of anywhere. There’s a reason for one or more of your employees to throw the towel. Find out if a problem is embedded in your process, a difficult team leader, or an uneven workload. With the knowledge you gain, you can establish new policies, better deals and create a happy and productive working environment.
Get help. It doesn’t matter if the walkout is permanent or as a strike for any reason; you already know that you alone can’t handle all the workload. So, first of all, find help with your daily operations, people willing to work as temporary employees to fulfill the immediate needs. Then, if your walkout is permanent, make a payment plan for settlements. A merchant cash advance can help you deal with this immediate cash need. If the nature of your company employs unionized staff, deal with them directly and ask about the policies in replacing those employees.
Get to know your employees. It could work better if this becomes the norm before a walkout, but even if it’s after the ordeal, being interested in your staff is not a bad idea. It builds loyalty, bonds and lets everyone know you care for them and they are not just another number on the payroll.
Incentivize growth. Let people know that you want them in your team and use various strategies like training in different areas, pilots for new ideas, a meritocracy structure to promotions, cash bonuses for achieving new goals, out-of-office education with a possible strategically in education. The main idea is that you foster and applaud personal and professional growth, so your team really becomes part of your company and your vision of the future.
Every business expert can tell you that a company’s most worthy asset is talent, and the way you treat your staff will reflect on the quality of your product or service and your success. From day one, you should take steps to ensure that this team feels comfortable and happy in the workplace, and this will be translated into more productivity, fewer absentees, and will reduce to a minimum the possibility of a walkout.
Take care of your team, and they’ll take care of your company. Don’t let a bad experience teach you that. Let us know in the comments if you ever had a walkout and how did you handle it.