Businessmen must come to terms with the harsh realities of the global financial crisis. Analysts are projecting a continued decline in growth targets because of less business being created nowadays as well as the absence of a strong consumer support to propel a boost in the cycle.

But there is one thing that businessmen should be aware of – how to manage their managers. Oftentimes, problems exist in a workplace because owners do not realize that the people they have put in powerful positions are ill-equipped in terms of their management skills.

A major concern is the communication skills of managers. Confusion arises between management and employees because policies and company's goals are not properly communicated. Simple disagreements may escalate, leaving both parties to adopting hardline positions. Various case studies have supported this sad reality. What is surprising is the fact that business owners are not aware of the extent of the damage until the aggrieved party, oftentimes the employees, seek redress from the authorities.

I would never forget what my professor told me when I was at business school. The most critical factor in retaining a good employee is how each individual is treated. Respect is the defining factor. My ever perfectionist professor even required us to submit a custom college paper that focused on the topic. And he even lectured us on the importance of being able to contribute to the fulfillment of the goals of any organization. I remembered that assignment well because I was made to write my college paper during a very tough time that included my sister being involved in serious accident back home.

I had my share of adventures in the workplace and I must admit my professor was correct. I am aware of my responsibilities in any company I have joined, but I also never forget to do my best to helping my employer attain organizational goals. For me, it is a give and take relationship. A harmonious workplace is based on mutual respect of each player in the organization.