News for Accredited Businesses
Better Business Bureau Serving Central Oklahoma
November 2009
QUICK BITS....Be careful buying from mall kiosks this holiday season. Better Business Bureau offices are warning holiday shoppers to check for return policies when buying from the kiosk stores that pop up in local malls this year. Remember that they may act like stores, but they won’t necessarily be around on December 26th to accept returns –- if they accept returns at all. It’s the responsibility of the store to set its return policy, and as long as it’s posted at the point of purchase, that policy can be anything from cheerful “no questions asked” rules to not accepting returns under any circumstances. Protect yourself by paying with a credit card and checking the item as you buy it. It’s also a great idea to get the address of the headquarters of the business. If all else fails, contact the mall management to track down the home office – someone will have been paying the rent on the kiosk, and it’s likely that the checks were coming from the headquarters….. What’s your policy on holiday bonuses? The economy has been tight for a lot of businesses. Even those with hard formulas for “profit sharing” may have a smaller pie to divide between worthy employees. Every business owner wants to be as generous as possible this season, but most know that there are limits to what can be given in good faith. How do you decide where the bonus money should go? Experts suggest that it’s best to decide on a number, budgeting for the entire amount to be split among employees. Then, identify the employees who deserve a special financial treat this year (maybe that’s all of them, maybe it’s a select group). It’s up to your personal management philosophy whether all of your employees should get the same bonus or if you want to divide the pie according to responsibility, status, tenure or other criteria. Once you’ve made these decisions, you should distribute the bonuses through your regular payroll system as a separate check. You want to make sure that the proper deductions are taken, and you want the employee to recognize the bonus as something special, but you don’t necessarily want every employee to know what the others received…..
MAKING THE MOST OF ACCREDITATION: BBB Ads in The Oklahoman!
The Better Business Bureau Serving Central Oklahoma has entered into a partnership with The Oklahoman to present pro-business ads sponsored by Accredited Businesses. Your business will be contacted when your ad is scheduled to appear. The ads appear three days each week, and are limited to three sponsors per ad. If one week or another works better for you, feel free to contact us to request a date. We can’t guarantee the exact date you want, but we’ll work with our partners whenever possible to place your ad. For more information, contact Leeda Kurtz at 236-5292 or through e-mail at leedabbb@coxinet.net
Keep Your Chin Up This Holiday Season!
Many small business owners are struggling to stay afloat and are being forced to make tough decisions—such as instituting layoffs or budget cuts. In the wake of these decisions, office morale can dip as employees face uncertainty about their jobs – especially with the holiday season around the corner. The Better Business Bureau offers guidance for small business owners on how to keep office morale high in a tough economy.
The unemployment rate in the U.S. is already at a 26-year high and layoffs are still in the future for many small businesses. According to an August report by the National Federation of Independent Businesses, 14 percent of small business owners plan to cut staff in the coming months. Even for employees that survive a layoff, job uncertainty remains. Equifax reports that small business bankruptcies were up 81 percent in June over the previous year.
“Layoffs, budget cuts and the pressure of an unstable economy can cause office morale to dip,” said Bob Manista, OKC-BBB CEO. “When employees aren’t happy and morale is low, productivity suffers, resulting in a downward spiral for an already struggling business owner.” With the Christmas shopping season at our doorstep, you need your employees to be upbeat.
The BBB offers the following advice to small business owners on how to maintain office morale in a tough economy and the upcoming holiday season:
• Enlist management in setting the right tone. In the wake of layoffs and budget cuts, it can be difficult to strike the right tone that will inspire trust with employees. Small business owners and management need to be on the same page in expressing optimism for the future.
• Acknowledge individual achievements. When morale is low it’s more important than ever to encourage employees and recognize the work that they do. Consider starting an Employee of the Month program or rewarding employees for completing projects or meeting goals.
• Be open and listen. Talk to employees and listen to their concerns and recommendations. Sometimes little things can have a big impact on office morale; talk to employees to find out what keeps them happy and what they would like to change around the office. Keeping the lines of communication open with employees can also help quell rumors that can undermine office morale.
• Provide an extra day off or a flexible schedule option. Especially around the holidays, employees will appreciate an extra day off, the opportunity to work from home or flexible hours.
• Keep the holiday party, but lose the excess. Many businesses have had to cut office parties altogether because of budget concerns, but events like office parties are a way to show appreciation, boost camaraderie and inject levity. Consider less expensive options for a party such as hosting a holiday lunch instead of a dinner.
BBB Accredited Businesses! Take advantage of reduced credit card processing rates, priced just for you! Contact First National Merchant Solutions at 800.354.3988!
Check out OKC-BBB President Bob Manista's blog at http://oklahomacity.bbb.org/blog/ to learn more about what's "behind the scenes" at your Better Business Bureau.