NURTURE YOUR PEOPLE and there’s every chance your company will move considerably up the rankings of good corporate governance. A new Fitch Ratings survey reports South Africa’s corporate governance practices have improved appreciably over recent years, making the country reasonably mature compared with most developing markets. But there’s still a great deal of room for improvement when compared with developed countries.
For Samantha Crous, GM of the CRF Institute, who is responsible for the annual grading of Best Employers SA, it’s important to improve your enterprise’s corporate governance through good financial management but it’s especially important to keep your staff happy – and the positive results, which include greater productivity, will be discernible. “Companies with good people management have a clear advantage over others.”
Crous says good people management strengthens the leadership brand and the company’s reputation.
Steve Tobak, a management expert on www.bnet.com, says few bosses are aware they’re bad bosses or may be the problem themselves. There are few really good bosses, he says, but bosses can go far when they resolutely strive to inspire and motivate their staff. This can be achieved by, inter alia, paying people what they’re worth and not seeing what you can get away with. “Also remember employees learn from those generous enough to share their experiences and insights.”
Tobak reckons bosses should also have the courage to be straight with their staff. “Good bosses also ease the burden of employee management by giving managers what they need to do their work.”