On of the biggest problems that businesses have at present is retaining team members. Obviously, it costs a lot of money to advertise, interview, recruit and train a new team member. If staff turnover can be reduced this will contribute to lower costs for a business and a happier workforce.
One way to contribute to staff morale is by holding regular team meetings. They can be as formal or as relaxed as you please. Personally, I prefer a more casual feel for team meetings. The purpose of a team meeting is to inform the team on what is happening in the business, both the good news and the bad news and to seek input from team members on their thoughts on various aspects of the business operations. You should encourage your team members to contribute their ideas. You won’t get this contribution unless management has shown the team that they are interested in them and are keeping them informed on progress within the business.
Many businesses conduct weekly team planning meetings and conduct a monthly team meeting, where the CEO gives a “state of the union” overview of where the business is, the direction that management is planning for the business and seek comment and feedback from team members.
What are your thoughts on regular team meetings? A valuable investment or a waste of time?
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
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