Most all healthy franchise businesses that have experienced success, whether new or established, attest to the value of the individuals making it all possible on a daily routine basis: Employees. Or, in a more detailed light, the individuals who perform the various and numerous tasks required to make a business function, bring in new customers, keep those customers happy and returning, and streamline product output and maintenance. The value of these individuals is enormous for thriving businesses and without them no business could function.
One key to honoring valued employees, especially those who shine, is to treat all with fairness in terms of work load and expectations. Particularly skilled employees may feel overwhelmed if constant pressure to perform is placed on their shoulders in unfair amounts simply because of their obvious talents. By valuing excellence without creating unreasonable expectations, franchise operators show they respect each employee for who they are, and expect each team member to work as an efficient part of the entire team.
One way that some franchise system operators are giving back to their esteemed employees is through employee stock ownership plans, which allow employees who stick with the franchise to better invest in their own futures. Funds earned through these kinds of plans can be transferred to certain investment plans or used during retirement. It’s long been known that content employees can make all the difference in a business. By setting up an option that allows employees to invest directly in the business with which they work on a regular basis, franchisors can open their business up to a new level of prosperity. This also heightens employee awareness of what it means to be involved as a co-owner of a business as they invest their time and energy into it, alongside the stock option plan.
Honoring employees also to a great extent involves how time management systems are put into place. By implementing flexible options for employees to better manage daily life, which honors personal needs as well as the ability to satisfy those needs along with the professional realm, flex-time options increase employee satisfaction. It’s no secret that granting freedom to employees highlights a trusting relationship on the job, and franchise systems that implement flex-time options enable their team members to live a richer life by adhering to a more reasonable system. Overall, everyone gains a greater sense of empowerment and personal freedoms are respected.