Hate your job but need the money?

Many of our subscribers are fellow small business operators. Today's message is for them. As I type this, Australian businesses are going through unprecedentedly hard times. While demand for products is strong, and profit margins are healthy, the work force is decimated. Workers are quitting, changing jobs or simply not showing up for work. Advertising for a replacement is fruitless, leading to frustration and an inability for businesses to operate efficiently and profitably. It is not just tough; we are on the verge of a meltdown of the very foundations of capitalism. What has caused the problem? There are four reasons which have caused this perfect storm: the government's overreaction to Covid and severe 'stay at home' orders, hyperinflation caused by the governments' decision to print money, extremely low interest rates, and the governments decision to close borders, getting rid of foreign workers and limiting immigration. Which means that an already spoiled and precious Australian workforce now has an upper hand over businesses. Those who always wanted to quit have already quit. And who could blame them? The generous Covid support coupled with stay at home orders proved to actually be a good thing: while in lockdown and on support, they realized that working from home left them with plenty of free time, no direct supervision and no need to commute to work. For them, work was always a burden, and to their surprise, thanks to Government measures , that burden was lifted, literally overnight. But for small businesses, it was not those who left that are a problem. It's those who stayed because they couldn't leave. Workers who have bills to pay, children at school, overburdened with mortgages. Disgruntled, unhappy and unproductive. They call themselves "quiet quitters". If you are not familiar with the term, look it up. "Quiet Quitting" is actually a global phenomenon. Millions of QQ'ers are mushrooming, and the chances are, there are one or two sitting right next to you, right now. How to recognize a QQ? The best way to introduce them is to allow them to introduce themselves: "We are forced to work. We hate capitalist corporate culture, over commitment, climbing up the ladder. We are happy to give 100% but not 1000%." Here are the obvious characteristics of a typical quiet quitter: 1. Physically present at work, but absentminded 2. Happy to do only the absolute minimum to keep their pay check 3. Arrive to work at 8:59 and leave at 5:00 4. Averse to any after hours training 5. Disinterested in new projects 6. Constantly grumpy, easily irritated 7. Disinterested in promotions, or corporate advancement of any kind 8. Impossible to motivate 9. QQ are proud of being quiet quitters, so they actively spread and preach QQ values Quiet quitters are a cancer to your small business.  What can you do about it? There is absolutely nothing that a small business owner can do to calm the storm. The storm was created by the government, not by small businesses. Brace! Instinctively, business owners react to the pain of losing staff by panic advertising for new staff, and offering higher wages. Which is simply pouring fuel on fire. You will be literally hiring someone else's quitter (bad) or someone else's' quiet quitter (really bad). QQ is not a victimless crime The first victim are your customers. If you see any signs of customer dissatisfaction, then you can be sure that your business is already infected. The second victim is the business itself, deprived of the blood which comes from worker enthusiasm and creativity. The third victims are hard working and loyal co-workers who now have to share even more of the burden in order to keep the business afloat. Plan of action Identify quiet quitters, review their performance and if they are not fulfilling their contractual obligations then take the appropriate steps. Going forward It took decades of hard work to build a successful business. Don't let a bunch of quitters tear it down. Hold the helm firmly, weather the storm. 1. Immediately cancel your overseas holiday 2. Be prepared to work even longer hours 3. Reward workers who are loyal and hardworking 4. Cancel all non-profitable projects, focus your energy on high profit activities 5. Be prepared to inject more working capital into the business 6. Remember: In times of crisis, a handful of loyal and experienced workers are worth more than an army of quitters 7. No storm lasts forever. If you survive, you'll come out stronger.  When will the storm be over? When interest rates hit 10% and all the awakened digital nomads, freelancers, smashed avocados, losers and quitters will for the first time in their life find out what capitalism really is. See you in Hobart. Gallup's global workplace report for 2022 showed that only 9% of workers in the UK were engaged or enthusiastic about their work. Also 60% of people are emotionally detached and 19% are miserable.