Trust is one of the most important aspects of a small business. Without it, employees may not respect or listen to management, and that could throw an entire financial plan out of whack.

However, there are some great tips for a small business owner to ensure that their company is operating at full capacity, while each staff member still trusts and respects them. Pulling this goal off successfully could be tricky, though, because there is a fine line between respect and fear – although a balanced workplace is a definite reality for many.

How to identify a problem
Before a small business owner can make changes to his or her company regarding respect, there first needs to be a problem. Fortunately, several key elements stand out when looking over a workforce to see if anything is out of place.

For example, employees could ignore their duties, disregard directions from management or miss deadlines, according to the Small Business Administration. These are all telltale signs of lack of respect, and an owner should try to fix them immediately.

Workers can also lose respect for many different reasons as well, the news source noted. Small things can cause problems, such as missing out on a promotion or receiving a bad review. The management style might not work for the type of people in the firm either – which means that some serious changes could be in order for the owner. 

In addition, even good managers can lose respect. So, if the company appears to be humming along on the surface, problems may lurk just underneath. It doesn't take a lot of financial tips to turn it around, minor adjustments could save the financial plan and keep the small business on track. In some cases, more training is all that is needed – or a simple conversation could do the trick. A manager needs to be strong when it comes to delegating and reprimanding, and some negative employee behavior could be the fault of these people, instead of the staff member.

Tips to earn back respect
If a small business owner and the managers lose the respect of the workforce, thankfully there are steps to fix this potentially dangerous problem, according to Forbes.

For starters, the expectations out of each position need to be defined and communicated. This crucial first step can mean that a lack of understanding leads to a loss of respect, and if both management and the employees are on the same page the company – as well as the financial plan – will move forward.

Moreover, organizational structure and workflows will help employees understand what is needed from them, the news source noted. This task goes hand in hand with clear communication, and each staff member should know their responsibilities in order to keep the peace.

Two-way communication is also a must for a small business. The manager, the owner and the employees all need to be able to talk to one another. This discourse should occur in a timely fashion as well, since a lack of feedback can let negative behavior continue for too long. If the small business has the tools and resources in place for each worker to perform their job successfully, odds are that respect will be easier to gain and hold on to.

Overall, the manager and the owner should be predictable. This holds true for all aspects of the company, from business banking to discipline. If each employee knows what the workday will bring, they can better prepare. If the workforce trusts management to react in a reasonable manner to both good news and bad news, they'll be more inclined to present problems and initiate a conversation.