Have Employees Run Faster and Jump Higher

From executives of large companies to small business management teams, the issue of rewarding employees must be addressed. When you think of your top employees, does it pop to mind how you reward them? Maybe you don’t reward your top employees, because their work is just what is expected of them, or maybe you do reward them. Either way, it is important to consider how the reward you give (or should give!)  to your top employees may impact others at your company, and hopefully incent them to work harder so they too can achieve these rewards. Oftentimes a company that is further along in its development potentially having gone through secure small business funding at an earlier stage to grow, they are more secure and will look at financial rewards. This is the most obvious option, but while money is certainly an incentive that will turn heads, there are also ways to reward employees that will make other people in your firm sit up and take notice.

Here are three ideas:

* When you are running either a company-wide meeting or departmental meeting, why not recognize your top performers verbally, thank them for a job well done, and shake their hand. People like recognition, and the other people sitting in the room that were not recognized may strive to gain that recognition at future meetings.

* Time-off is so valuable to employees. Why not recognize your top-performers either with a ½ day off, or a whole day if you are feeling very generous and your company makeup can allow for it? Even saying at 3:00pm on a Friday, “hey you did such a good job on “x” go ahead and start your weekend early” will make a difference.  This will surely gain the attention of other employees as well.  Just make sure if you do something like this, that you stipulate in the future when this will be offered so people aren’t constantly expecting it!

* Putting information in a company newsletter or sending out monthly e-mails that recognize top performers and their specific accomplishments.  Again, this is just another form of recognition.

When choosing ways to recognize people at your company, always remember to keep in mind that rewarding one employee will open the eyes of the others, and have them strive to achieve that same reward. So give some thought as to what would work best for you, your company, and your employees and go ahead and get started!

Make your Management Style Effective

Your management style is your management style. Whether it is more of a micromanager, more of a manager who allows a lot of independence, or if you strictly adhere to all rules or if you are more flexible, this list can certainly be endless when it comes to your responsibilities and management style. But it’s making an effort to be aware of your style that will lead to success for both you and your department.

While some managers have an innate ability to shift their management style based on their employees, you may be a manager that likes to stick to your style, as you feel that your group is most successful when you do so. And if this is a case there is something you can do that will enhance the probability of your employees embracing your management style. Transparency is key when it comes to your management style’s effectiveness.

When making a hire or when taking someone new into your company or department, it’s important that you spell out what your expectations are. Go ahead and share how you like to manage. While this is important in all cases, it’s especially needed if you don’t feel like you can adapt your management style to your employees. So let’s take the micromanaging example to expand on.  If supervising the details of each of your employees’ jobs is important to you, you really should explain that to your potential hires or transfers into your department. Why is this so important? Because if you aren’t clear and set expectations for your subordinates there may be dissatisfaction on the side of your employee after starting the job. And that is a formula for disaster! So no matter what your management style is, and what is important to you, you need to be clear up front to potential employees, so they know if they can successfully work for you. You want it to be a win-win situation after all.

When it comes to being an effective manager, transparency is the key to success. By filling in your employees on your expectations, everyone is clear as to what is expected, and accepting of what will be, and that will lead to a successful working relationship for all involved.

What is Derailing Your Day and How to Stop It

It’s a typical work-day morning. You sit down at your desk. You have your to-do list all set. Excellent! You know this is going to be a productive day. Then you hear a little ding on your phone and a text is coming in … of course you glance on it, consider your response and respond. Next you get a Facebook notification. Oh, you have to comment on this one, after-all you’re tagged in the picture! As these real-time interactions come in, you are deviating from your plan. But what can you do – with temping texts, e-mails, and social media post notifications coming in all day?  While human nature would dictate that you check on these things right away, your best bet is to fight that urge and continue to focus on the small business activities that need to get done.

While it’s interesting to check Facebook, will the fact that Joe Smith is going out to lunch at Applebee’s and had a delicious hamburger, going to make you money?!!  No!  Does that text from your friend discussing plans for the weekend, help your small business will climb to the next level? No! And it’s important to note that personal “distractions” such as these are not the only distractions. Business messages on these platforms come in all day as well. And while they cannot and should not be ignored there is a way to handle them without them steering you off your path and breaking your concentration.

Discipline is the key here.  It would be unreasonable and not the best move to go all day without checking work related texts, e-mails, etc. but they do not need to be checked the second they come in! Get to work, and shut off those notification sounds, if you feel like you need to. By doing this you won’t feel compelled to check everything immediately. And put on your to-do list times when you will check, and stick to that plan. There may be times when you are waiting for an urgent message regarding a small business opportunity and the like, and that is the exception to this rule. But for the most part schedule these activities like you would everything else. And even schedule in a few minutes to check your personal messages as well. By doing this you will be able to have pure focus on each scheduled activity.

By making these incoming messages part of your plan for the day, you will stop them from being “distractions” and transform them into a productive part of your everyday routine.

IOU Financial Closes Another Quarter of Record Loan Originations

  *IOU Financial originated USD$45.0 Million in new loans in 3Q2015

  *Retail and wholesale channels continue to demonstrate strong growth

MONTRÉAL, Oct. 8, 2015 /CNW/ – IOU Financial Inc. , (TSX Venture Exchange:IOU) (“IOU Financial” or the “Company“) a leading online small business lender in the United States, announced today it originated USD$45.0 Million in new loans in the third quarter of 2015, representing a year over year increase of 108%. For the nine month period ending September 30, 2015 loan originations totaled USD$110.1 Million, representing a year over year increase of 66%.

Growth in loan origination was driven by both the Company’s retail distribution channel and wholesale distribution channel. For the nine month period ending September 30, 2015 loans originated through the retail channel, where borrowers are sourced through direct marketing campaigns, increased 271%, year over year, to USD$6.3 Million. For all of 2014, loans originated through this channel totaled USD$3.1 Million. Loans originated through our wholesale channel, where borrowers are sourced via relationships with third-party business loan brokers, increased 61% year over year to USD$103.7 Million.

“We are extremely pleased with the growth acceleration in loan origination we have seen this quarter. Businesses are responding to our online proprietary platform, which allows them to quickly access the necessary working capital to grow their small business,” said Phil Marleau, Chief Executive Officer of IOU Financial. “IOU Financial continues to transform small business lending in North America and is well positioned to deliver sustainable long term shareholder value,” continued Mr. Marleau.