Are you a business owner looking for additional ways to compensate and retain your key employees? There are several options that are mutually beneficial for employees and businesses.
I’m going to preface this blog with the fact that I was born and raised in Ohio and am therefore an Ohio State fan. I was on ESPN’s website the other day and came across a story about the “school up north” and their Head Coach Jim Harbaugh getting additional compensation in the form of a life insurance loan.
The story caught my attention because you don’t see articles like this too often, especially when you are looking to read about sports. The fact is, it is commonplace in the corporate world for businesses to offer additional benefits to key executives and/or employees. The agreement that the University of Michigan and Jim Harbaugh have entered into is called a split-dollar life insurance arrangement. These types of arrangements can be a win-win for the employer and employee.
Photo by Eric Upchurch via Wikimedia Commons.
Recently, I watched a documentary on Tony Robbins. Tony was telling his audience to write down all the things that were getting in the way from becoming the person they wanted to be and then talked about “looking in the mirror.” This talk made me think of my business and how we conduct exit interviews.
Whether it’s a voluntary resignation or termination, we always ask the employee to complete an exit interview. It’s a very simple interview asking the former employee about his or her experience working for Group Management Services. In many of the exit interviews the employee talks about enjoying their time here, but their circumstances changed: they received a better offer, had a baby, a spouse is getting transferred, etc. Many have offered useful suggestions that we have acted upon such as “the sales manual needs to be updated, not enough holidays are recognized, need to have a more flexible schedule,” to name but a few.
These recommendations have all helped GMS become a better company, but they are definitely not the fun ones. The comments I really look forward to are from failing Sales Reps. You see, we have a very thorough sales process. We know how many calls you have to make every day. We know how many people you have to see every week. We know how many people you have to propose to every month. We know who is cheating by looking at the numbers. Thus, their suggestions are the ones I love.
Not all workplace injuries happen outside. The office isn’t the most dangerous location, but it can still be home to some minor injuries and issues. Here are three threats to employee health in an office space.
The trucking industry has played a significant role in the industrial development of the U.S. over the past century, providing a link from manufacturers to consumers. Over that time, there have been major advancements in everything from our interstate highway system, to governmental safety regulations, to the tractors and trailers themselves.
Today, the transportation industry faces several challenges, many of which are related to consistent changes in the regulatory environment. The American Transportation Research Institute released a report in October of 2015 that listed the top 10 issues facing the trucking industry. The top three (in order) were Hours of Service Regulations, the Compliance, Safety, Accountability (CSA) Program, and Driver Shortage.
Small business owners put in a lot of work to make their business succeed. Unfortunately, there are some hurdles that can prevent a small business from a bigger, more lucrative future. Here are three issues that small business owners may have to face when growing their company.
In the recruiting world we have heard it all before…
- “I don’t want to post a compensation range because everyone will expect the high end.”
- “I don’t want my current employees to know what others are paid.”
- “I don’t want my competitors to know our salaries.”
- “Other postings online do not include a compensation range, so why should I?”
Although these are common thoughts for all business owners, it can be directly affecting your candidate pool numbers. In fact, SMART Recruit Online found that job advertisements with a compensation listed increased the total number of candidates by 30 percent. Small and mid-sized companies are at a disadvantage by not posting a wage since larger companies have known salary and hourly rates.
It can be hard to manage HR functions internally. That’s why a Professional Employer Organization (PEO) provides comprehensive services for businesses in need of help.
However, some people aren’t as familiar with how PEOs operate and may be concerned about working with them. Fortunately, we’re here to help answer your questions. We’ve debunked three myths about PEOs that you shouldn’t worry about.
Paid time off (PTO) is a powerful tool to help employees stay refreshed and motivated. Unfortunately, the prospect of falling behind on projects or being hit by a deluge of missed emails can be more terrifying than a prolonged visit with your in-laws.
Employees shouldn’t be afraid to take PTO, whether it’s due to potential workplace stress or a fear to take time off. Here are three ways that your business can make vacations less stressful for employees.
Let’s face it; employees don’t always want to be indoors during the summer. Having unmotivated, daydreaming employees can lead to unproductive work days, but some summer perks can help motivate your workers. Here are three ways that you can help boost team morale during the summer.
Today, GMS celebrates a huge milestone with the signing of our 1,000th client.
When GMS was started, Bill Clinton was in office, a gallon of gas cost $1.22 and Michael Jordan had won his fourth NBA title. Twenty years later, in 2016, we have another Clinton running for office, gas prices have doubled and the Cavs are the reigning champs. A lot can change in 20 years, and a lot has changed at GMS.
In 1996, Mike Kahoe started GMS as a one-man show. Prior to that, he had worked for a temp agency for construction workers. Kahoe began to notice a trend in companies relying on a workforce made up of temps alone to avoid having to deal with workers’ comp, payroll and benefits. Not being familiar with the Professional Employer Organization industry, he floated the idea to start his own company to handle these functions of a small business.