Thank you for Subscribing to Business Management Review Weekly Brief
I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info
Thank you for Subscribing to Business Management Review Weekly Brief
By
Business Management Review | Monday, January 24, 2022
Small-business owners battled like never before, even as titans like Amazon and Microsoft reported record profits.
Fremont, CA: It's no secret that the outbreak wreaked havoc on most businesses, but let's be honest: the little guys suffered the most.
Small-business owners battled like never before, even as titans like Amazon and Microsoft reported record profits. They may not have as much cash on hand to carry users through difficult times or sales slumps. Some users got forced to close important stores or sites where businesses served clients. Supply chain difficulties got brought up during dinner. The teams got destroyed as a result of the layoffs.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
Many reasons for workers staying at home included illness, caring for family, homeschooling children, a lack of public transportation, and fear. Employers have little option but to embrace flexibility as a result. Businesses had to get inventive in order to stay in business. It's all about timing.
Small-business operations that incorporate flexibility.
• Part-time employees are entitled to full benefits
Yes, it is more expensive. However, it also fosters an atmosphere where caregivers may remain in the workforce while employees can focus on their physical and psychological well-being. In addition, businesses in other states, including Washington and California, are helped by state-run paternity leave and sick-leave programs that all state workers support.
• Say yes a lot
One may extend such thinking to overall operational methods as businesses and default to yes when employees communicate their needs and want. Take, for example, an employee who gets the option to conduct a year-long home swap in Chile. She's already working remotely, will have access to decent internet, and Chile should be in the same time zone as her. Why would anyone refuse?
• Stay open and proactive
Four-day workweeks, available time off, picking one's schedule, paid leave, health vouchers or stipends, and remote work are all examples of proactive flexibility policies that function successfully. But companies all know that the unexpected happens at some time. Therefore, more incentives to focus on keeping exceptional personnel will contribute significantly to achieving the organizational objectives.
More in News