One important problems that can be faced every entrepreneur, especially entrepreneurs of fast growing businesses is to keep the best employees without giving them managerial positions. In the previous post, I talk about what an individual must practice when he/she become a manager. However, there I don’t obtain something about people who don’t want to become managers or people who simply don’t have a capacity to become managers. Managers need to implement different managerial tasks.
Sometimes we must be aware that some employees are more valuable on the current position with their great technical skills. Technical skills in that employees produce direct business results. More about managerial skills you can read in Three Types of Managerial Skills. For example, a programmer in many situations wouldn’t like a managerial job, because he/she wants to stay late on the night in the front of their computers to write code that will be valuable for the business. If you promote them into managers as a part of your business reward system you will destroy creativity and the life of that persons.
In these situations, an entrepreneur has a big dilemma. The dilemma is how to keep the best employees satisfied, rewarded and more respected without making a mistake to promote them into managers.
There are two different approaches to compensate the rewards for the managerial positions. The both approaches are important for an employee.
1. Monetary Rewards
Money is an important thing for each employee. If someone is really fruitful for the business purposes at current position, and in the same time he/she has a low potential for the managerial position it is better to stay there on the operational level. But, they will expect some rewards in the form of money. They know that they are valuable for the business, they know that they bring successful results, and they know that must be rewarded about their efforts.
You can use different approaches as money rewards, some ideas in this field can be:
- Increasing salary,
- Money rewards after completion of tasks,
- Paid vacation for them and their family,
- Paid schooling for their children…
2. Nonfinancial Rewards
It’s not everything about money even they are important part for each of us. But, in the business life there is the existence of different rewards that will be appreciated from the employees. For example, everyone wants:
- To be a respectable person.
- To have a better reputation.
- To have privileges in independent decision making.
Respectable person. If someone is more worth from average employees in the business he will expect to have better respect from colleagues. We know that managers are respectable persons, but we want to build real respect without managerial position. As entrepreneur or manager you can use different approaches to build really respectable employee in their own environment. Some of them can be:
- Share some sweet words about them with their colleagues.
- Praise their work to hear other colleagues.
- Give them the most important tasks from the project.
- Celebrate with them, about their success.
Better reputation. The reputation is opinion, social evaluation and identity defined from other people to the person. Everyone wants to build a better reputation in their working environment. You as an entrepreneur or manager can be a very influential person in implementation of these objectives. Help him to build a better reputation.
Independent decision making. Managers are persons that decide. However, if you don’t want to promote some of the best employees in managers you can expand their scope on decision making. This mean that they can decide about some projects without you.
As you can see all of these three approaches are interdependent. One approach can improve other and vice versa. These are some of the ideas that a small business entrepreneur can implement in their business to keep the best employees without promote them into managers.