Business Education

How to Deal with an Employee with Limited Work Capacity

Having a good employee who is restricted in their capabilities can be a very challenging situation. This is especially true if he or she is a valued team member, but can’t put in the hours due to certain limitations. Whether it’s a preexisting condition, and injury suffered on or off the job, you obviously have moral, ethical, and legal responsibilities to him or her. However, this doesn’t mean that they are completely protected from being terminated or having their role and/or responsibilities changed. Although this article isn’t specifically about legal ramifications, it will give you some effective tools on how to deal with this particular set of circumstances. Read on to learn more about how to deal with an employee who has limited capacity.

Every Situation is Different

Limited capacity can mean the number of things, including an inability to perform certain physical tasks, and other situations. But, most often it is due to a physical limitation which prevents him or her from fulfilling one or more of their responsibilities. These can range widely, from an inability to lift certain amounts, to not being able to sit for a protracted period of time.

An ever persistent problem facing employers is what to do with the employee who is chronically sick or has a serious health problem. Besides the obvious issues it presents to the employer- additional strain on other employees to pick up the slack; inability to properly staff and manage work loads; basic coverage concerns- there are also potential state and federal legal ramifications if the absences are not handled and documented correctly. —HNI Risk Services

Whatever the case may be, It is up to you to be as accommodating as possible, without fully compromising your company’s position. In other words, it’s best to strike a balance and find a happy medium where you can accommodate their needs while also allowing them to fulfill most or all of their work responsibilities.

3 Key Ways to Deal with an Employee with a Limited Work Capacity

There’s no hard-and-fast set of rules for coping with an employee who can only work in a limited capacity. After all, no two sets of circumstances are exactly the same. But, there are some general parameters you should observe. Here are three good ways to deal with a team member who is limited in their work capacity:

Gain a real understanding of the circumstances. Whether it’s a back problem, issues with a disease, or anything else, you need to have a very clear idea of what’s going on with your employee. Understand precisely what his or her limitations are and aren’t. This way, you’ll have enough information to make good decisions when it comes to his or her role and responsibilities.
Make strategic concessions where necessary. Even your best employee can suffer from very unfortunate sets of circumstances and still be able to contribute to your company in a number of ways. Though it’s difficult to comprehend or even accept, it could be a detriment to your business (that is, if you insist on keeping everything the same). So, think outside the box and make strategic changes so he or she can continue to be a productive asset for your company.
Realistically reassess the situation periodically. Sometimes, this can be a long-lasting situation that can go on for years. Or, it could only last for several months. Regardless, you need to take the time to reassess the situation every now and again.

What other suggestions do you have? Please take a moment to share your thoughts and experiences so others can benefit from your unique perspective; it’s greatly appreciated! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Like this article?

How to Choose the Right Business Bank Account

May 17, 2021 No Comments

The right business bank account can do wonders for any entrepreneur. Whether you’re starting a new venture, are an independent contractor, or just have a side gig, a commercial bank account is generally a very good idea. Not only does it help you separate business transactions from your personal purchases, it can also serve as legal protection. So, read on to learn more about how to choose the right business bank account. Top Business Bank Account Benefits A commercial bank account makes it a cinch to tracking business expenses. You can monitor spending with ease. Plus, it can also be a big help in preventing overspending. What’s more, having a dedicated business account will be a huge time-saver come tax time (which can be every quarter, by the way). Business checking accounts can make it easier to separate business spending from personal spending. If you run a small business, are self-employed or earn money as an independent contractor or gig worker, a business checking account is something you may need. But which one is best for you? Just as with personal checking accounts, choosing a business bank account comes down to finding one that offers the right combination of features, benefits and cost. —Forbes.com Additionally, a business bank account makes your organization look more professional. This, not to mention you can also usually enjoy some personalized and professional services of your own. For instance, having documents notarized for free or a minimal fee. Or, helping you to choose the right business credit card and/or debit card. How to Choose the Right Business Bank Account Unfortunately, choosing the right business bank account can also be a bit intimidating. After all, you want to get the most out of it while paying the least (since practically all commercial accounts charge fees). So, here are a few helpful tips to find the best business bank account: Ask about fees and requirements. There are very few business bank accounts without fees and requirements. But, some financial institutions waive one or more fees if the account continually maintains a certain minimal balance and/or has a number of business transactions. Know not all introductory offers are the same. Some banks offer very tempting introductory offers. Of course, these expire, so you want to make sure you understand the exact terms. Moreover, pay close attention to what occurs thereafter because it might well be a lot more trouble than it’s worth. Do your homework. Of course, you can always get recommendations from other businesses. But, don’t just go on their experiences alone. Take some time to research different banks online and see how they perform with the Better Business Bureau. Commercial customer reviews could also tell you a whole lot about how a bank treats its business customers. Compare and contrast. Obviously, you’ll need to stack your possible options up against one another. While one might charge a bit more in fees, it could offer waivers. Or, you could value having several branches because it’s more conducive to your business’ needs. Be sure to go over the pros and cons of each to decide which is the best overall fit. What other suggestions do you have in selecting a good business bank account? Please share your thoughts and experiences so others can benefit from your unique perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

3 Biggest Inflation Price-Adjustment Mistakes to Avoid

November 26, 2021 No Comments

Inflation in the United States is at its highest level in 31 years, according to the Wall Street Journal. Currently, it’s measuring around 6%, and complicating matters more is supply chain issues, along with shortages in key materials, as well as labor availability. Due to these factors, businesses are faced with the decision to raise prices. Although practically any business owner would resist, this just isn’t a sound strategy. When a company’s costs rise, it must pass on at least a portion to consumers. If businesses don’t raise prices, they obviously reduce their margins, thereby reducing their revenues. So, do small businesses deal with inflation? How Small Businesses can Deal with Inflation Fortunately, there are a few key strategies you can employ to help your company through an inflationary cycle. One step you can take is to offer bulk discounts on the products you sell, incentivizing your customers to purchase more in exchange for paying less overall. Another thing that you can do is to use the same strategy for wholesale vendors, asking them for a slightly higher discount in exchange for purchasing more inventory, or materials and supplies. The PPI — producer price index– measures the prices of goods immediately postproduction and serves as a critical indicator of the pressure facing companies. Companies that weathered previous storms the best took decisive steps to counter rising inflation by pushing through price increases consistent with PPI — but that alone was not enough. —Havard Business Review Small businesses can also help to offset inflationary pressures by scheduling jobs further into the future. Since materials are more scarce at the moment, this might not be a viable strategy. Of course, this does come with a good deal of risk, because you don’t have a crystal ball into what will unfold over the next several months. Yet another strategy for coping with inflation is to move to alternative materials and supplies that cost a little less. But, be aware this might also mean having to settle for a lesser quality product. 3 Biggest Inflation Price-Adjustment Mistakes to Avoid If these strategies aren’t enough or don’t appeal to you, there are definitely things you should avoid doing. Because any one of these will likely be extremely costly in one way or another. Here are the three most dangerous mistakes businesses really need to avoid in their inflation adjustment pricing: Apologizing. Sure, it’s human nature to empathize. But, you’re not the driving force in rising prices, nor are you in control of the elements that are causing inflation to rise. Although it’s tempting to apologize for having to charge more, it puts you in a position of weakness and can easily lead to you reducing prices at a time where it’s just not feasible. Overcharging. Obviously, price gouging is illegal. But, charging more (particularly above the new, higher market rate) in order to cover your rising costs and increase your margin at the same time is not advisable. Doing this will only result in driving customers to look for less expensive alternatives in your competitors and leave you with a guilty conscience. Undercharging. This is perhaps the biggest temptation small business owners face during inflationary periods. They empathize with their customers, being affected in their own personal lives too. So, they decide to keep their prices the same or only raise them as little as possible, thereby cutting into their margins. While customers will certainly appreciate the break, it could very well become a self-inflicted wound that leads to ruin. What other suggestions do you have for dealing with inflation price adjustments? Please take a brief moment to leave a comment and share your thoughts and experiences so others can benefit from your strategies. Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to Avoid Decision Fatigue; Wait, Avoid What?

November 14, 2018 No Comments

Decision fatigue. It’s a phenomenon which probably affects you. Yet, you’re not truly aware of it. Put another way, you’ve likely felt its impact, but just didn’t know what to make of it. Or, more particularly, what to call it. That’s okay. It’s something many people experience a few times. Others are hit with it a lot — a whole lot. Usually, these are individuals in positions of authority. You know, the “decision makers.” Although we joke about it, the truth of the matter is, making decisions gets harder and harder as the day goes on. So, let’s look at some ways to avoid decision fatigue. Is Decision Fatigue Actually Real? The short answer to the question above is a resounding, “Yes!” Decision fatigue is real. In fact, two university researchers examined more than 1,000 decisions made by judges in Israel. Said judges either decided to grant or to deny parole. Prisoners who appeared in the morning, about 9 am, fared quite well. Those offenders had a 70 percent chance of making parole. Decision fatigue can seem harmless enough. Spending a few extra minutes deciding between chicken or beef isn’t the end of the world. But what you may not realize is that those little moments of turmoil could be negatively impacting your business. If left unchecked, decision fatigue can lead to reckless behavior like compulsive spending or, worse, the inability to make any decisions at all. —CNBC.com But, by the time mid-afternoon rolled around, those chances dropped down to just 10 percent. The conclusion, of course, was the judges simply used-up their stamina and therefore, took the simplest and safest way out. Ways to Avoid Decision Fatigue Now, if you’ve ever felt “used-up” at the end of the day, like your brain can’t process any more, decision fatigue is a likely culprit. Here are a few suggestions for how to avoid decision fatigue to better your work performance: Start tomorrow today. At the end of every day, start getting things in order for the next morning. Don’t make big decisions. Just get organized so you’re ready to go when you come back tomorrow. While this might seem too simple, it will have a big impact. Make important decisions early. When you start your day, don’t “ease” into it. Instead, challenge yourself by making the most important decisions when you’re most fresh and have new energy. You’ll see things more clearly and have a better sense of which way to go. Stop second-guessing yourself. In the military, some class instructors tell their students to bite the erasers off of their pencils right before starting a test. It’s not literal — it’s a figure of speech. It means your first intuition is typically the right one; so, don’t second-guess yourself. Snack and exercise every day. It’s a very good practice to have a solid but sensible breakfast in the morning. A light lunch is also a sound practice. But, you might feel a bit worn by mid-afternoon. The cure? Exercise and have a small snack to re-energize. What other ways do you combat decision fatigue? Please share your experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.