What is the best thing for your employees to do? The email was sent out by the CEO of Howard University Hospital.
At Howard University Hospital, I want you to understand that we are carefully managing our dollars. Now more than ever, we must be conscious of what materials we buy and how much we spend. We must also be careful with our current hospital resources...we must be prudent with the resources that we have."
She gave tips on how to save money at home if she had left it at that. Sarah Warren is a registered nurse.
Local employees probably didn't likeJenkin's email tips. There are tips for saving money.
- Shop your pantry
- Do your laundry at night
- Use your air conditioning instead of rolling down the windows in your car.
- Do home meal prep
- Choose store brands instead of name brands
These are great tips, but coming from a CEO that earns over $600,000 a year, these went over like a balloon. The tips are bland, generic and not something a CEO should suggest.
I contacted Howard University Hospital by phone and email on Monday, but they haven't responded yet. I will let you know if they do.
It won't help your employees if you tell them to look for canned peaches. What should you do?
Many entrepreneurs don't take their salaries when times are good. There isn't always money for raises. Reducing someone else's salary will increase someone's salary. You should tell your employees the truth.
Don't hide finances. You can't have money if you don't have it. If you can't pay the market rate, you may have to have people quit, but people will be more accepting if you tell the truth.
When you give executives big bonuses, it's not a good idea to tell people you don't have the money. Trust will be destroyed by that.
You want to invest in the business, provide bonuses, or put it in your own pocket. It's not necessary for you to say yes to every raise request.
They are at market rate and you can communicate that. Employees should be shown the data. If you don't feel comfortable doing that, you probably won't pay people at their market rates.
People can be paid above market rate salaries if you want to. This can help retain employees. It's cheaper to pay people more and keep them longer.
This email didn't give helpful and unique information, and it would have been better if she'd kept her fingers crossed that the air conditioning information was correct.
I'm certain she thought it was useful. Most people didn't.
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