Posts Tagged ‘Employees’
The Growing Problem of Employee Turnover
Reducing Turnover with Better Benefits Employee turnover is a costly problem and that cost is on the rise. Currently turnover costs $600 billion annually, but by 2020 that figure will balloon to $680 billion. What’s behind this rising business cost and what can businesses do to prevent it? The Strength of the Jobs Market is…
Read MoreHow to Keep Good Employees: Pay and Development Trump Benefits
It’s no secret that replacing an employee is expensive. A 2019 retention report by the Work Institute found that conservatively, employers can expect to lose around $15,000 with the departure of an employee. In 2018, nationwide turnover costs were an estimated $617 billion, and that’s not accounting for the (very necessary) costs associated with training…
Read MoreCoaching Has a Shelf Life
We are most effective in coaching when we are focused on an observable behavior. That is, “I observed you doing this…” “When this happens, you tend to do…” “What would happen if…” Observable behaviors critical to effective coaching. They provide the context for the conversation. But observable behaviors have a shelf life, or use by…
Read More5 Proven Ways to Keep Employee Morale High
We’ve all heard the phrase “happy wife, happy life.” There should be another similar phrase when it comes to running a business, “happy employees, more successful company.” While it doesn’t have the same rhyme (unless you change company to companies) it’s still an idea that plenty of bosses and business owners should have in mind.…
Read More9 Perks Your Employees Want and You Can Afford
It’s not just about health insurance and vacation time. Today’s best employees expect their employers to provide them with a slew of perks that make both their professional and personal lives better. If they don’t find it from their current role, they’ll look elsewhere—the average worker will switch jobs a whopping 12 times throughout their…
Read MoreWhat is a Record of Employment (ROE)?
When a Canadian employee receiving insurable earnings stops working for seven consecutive days, they experience what’s called an interruption of earnings. Employers are required at this point to issue a Record of Employment (ROE) electronically or by paper. In this article, we’ll talk about exactly what’s on that ROE and the situations that require them.…
Read MoreWhere’s Your Team Playbook?
This one comes straight from football. From experience and from information about the competition, a coach creates a playbook that contains detailed plans for actions or plays that the entire team must know without question and execute without pause in order to win games and advance toward the playoffs. But you know that of course.…
Read MoreFix Problems with Timesheet Errors with a Few Simple Apps
I remember starting my first business. I quickly discovered how much the average business owner has on their plates. It can be easy to lose track of the importance of things like employee time tracking. Unfortunately, the consequences of overlooking timesheet mistakes can be incredibly expensive. In 2015, Harvard Business Review published an article on…
Read MoreThese 3 Appealing Employee Benefits Can Slow Business Turnover
With unemployment rates hovering at or near historic lows throughout most of the developed world, it’s getting harder than ever for businesses to recruit the talented employees they need to thrive. Even when they find the right people, however, there’s yet another struggle ahead: retaining them over the long term. It’s a problem that’s even…
Read MoreWhat You Need in Small Business Time Tracking Software
Not every business is the same, so each business’s workflow can vary greatly from the next. There’s one thing we know for sure, though: Anyone can benefit from having timekeeping software. In general, it allows you to spend less time on spreadsheets and more time on the more important tasks in your day. In fact, using…
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