July 11, 2017 8:00 AM
Employee retention is a significant area of focus for most business owners. According to talent management and HR site ERE Media, “78 percent of business leaders rank employee retention as important or urgent,” showing that the average owner wants to avoid losing good talent.
There are many reasons why an unexpected departure can prove problematic for employers. It can disrupt workflow. It can have a negative impact on chemistry. Also, it can cost up to 50 percent of an entry-level employee’s annual salary to find someone to replace your outgoing employee. That’s a pricey goodbye.
Retention is a big issue that many employers want to address before their company turns into a revolving door for talent. Fortunately, Professional Employer Organizations can help your business improve employee retention. Here’s how.
April 25, 2017 8:00 AM
There are growing signs that the economy is improving. Perhaps the most notable marker is that more people are starting to come back to the workforce. The unemployment rate is continuing a downward trend, meaning that more employers are starting to hire again.
Of course, finding good employees is important to a company’s growth, but keeping their best employees is vital to an employer’s productivity. Keeping your best employees ensures a smoother transition for newer employees and keeps the job environment stable with their most seasoned employees.
Of course, with a growing job market, sometimes a company’s best employees begin looking at this as an opportunity to “test the waters” of their own value and see if there are better options. How does a small business owner retain good employees while attracting qualified candidates? By offering benefits.
April 18, 2017 8:00 AM
Employee training is an effective way to teach new employees and develop existing workers. However, employers may be concerned about related expenses, as employee training has been estimated to cost around $1,888 per employee for companies with fewer than 500 workers.
That’s quite a bit of money, but the cost of training can be well worth the investment. Here are three big reasons why a commitment to employee training is a great financial decision for your business.
April 12, 2016 8:00 AM
Unhappy employees can make for an unproductive company. Sometimes the key to boosting morale is to make small changes in the office. Here are four things that may upset your employees and how you can help fix it.
July 28, 2015 8:00 AM
Sometimes simple gifts or notes won’t cut it when it comes to rewarding an employee. Earlier this month, we provided nine gift ideas and eight free suggestions for good employees, but this post is for bosses who are looking for some alternative ways to show a worker just how much they mean to a company.
July 21, 2015 8:00 AM
As we mentioned earlier this month, it’s good to reward your employees. However, sometimes you want to reward an employee, but you have a strict budget. Even if you don’t have a spare few bucks to spend, there are plenty of ways to show your appreciation to a worker without having to take out your wallet.
July 14, 2015 8:00 AM
A happy employee is a good employee. Rewarding employees for their hard work shows that you appreciate them, which can in turn give them extra motivation to not only maintain their quality of work, but exceed it.
Whether you’re rewarding one particular employee or a group of people, a special gift or show of thanks can make a big difference.
March 18, 2013 9:30 AM
Once you’ve hired your employees, it’s important to keep them happy on the team. In addition to the cost benefits of employment continuity, there are also morale and productivity benefits.