I just received an offer from Chase Bank to open a new bank account with them, and they would fund said bank account with $600.00. What a deal! I open an account, and they give me $600.00? I am IN!
A bank account functions like this: You make a deposit, then you make a withdrawal that is LESS than the deposit. This is also what a healthy employee/employer relationship looks like. Think about it: You make an investment in your employee, and they make an investment in you and your company. The bank account is healthy. But what if an employee starts making withdrawals that are more than deposits? For example, they start taking more time off than allotted without a legitimate reason. Or they start missing deadlines. Or you have many clients complain about them. What then?
Most of my clients don’t want to have conflict with their employees, so they will ignore the overdraft fees for a long time. The fact is that an overdrawn bank account is a BIG red flag in relationships. If you feel drained after dealing with an employee, and you can’t get the balance in the account to be in the black, it is time to cut them loose.
In addition, if you aren’t training your people, if you aren’t conducting regular reviews, and if you aren’t honoring people that are doing a great job for you, then you are the one draining the bank account.
The bottom line is this: Both the employer and the employee have to make regular deposits into the joint account in order for the relationship to be healthy, and if that isn’t happening, a change in status MUST be made. You can take THAT to the bank!
POWER THOUGHT: In order to have a bankable relationship with your employees, you must both make regular deposits.