Posts Tagged ‘Retention’
Sales and Service: Selling Doesn’t Stop at the Sale
In many businesses, sales and service are viewed as two distinct functions: sales is seen as the starting point, where the initial transaction occurs, and service kicks in post-sale to address customer needs and ongoing issues. Keeping these functions separate overlooks a huge opportunity that can significantly enhance the customer experience and drive business success.…
Read MoreHow to Make Your Startup Profitable
It’s true, there is no one-size-fits-all advice that every business owner can follow with respect to productivity. But your business is probably also trying to reach a huge profit margin and there are a few tips that can help. This comprehensive guide examines some of the best practices that can help your startup succeed in…
Read MoreCreating Business Magic: The Power of Alignment
As raving Disney fans, we’ve collectively visited Disney parks around the world hundreds of times, leading others to ask…”Why?!?” What is it that keeps us going back again and again? It’s a fair question, and one we’ve pondered ourselves. Neither of us are thrill ride junkies, theme park enthusiasts, or extroverts who love being out…
Read MoreRetaining Your Employees During the Great Resignation
Your employees are key to your success in business. Building a team of people who do perform well and deliver a great experience to your customers is not an option; it’s a requirement. So any time you lose an employee, it’s difficult. Not only are you losing the person, but you’re losing all their knowledge and experience…
Read More3 Ways to Convince a Demoralized Employee to Stay
There comes a time in many employees’ lives when they feel it is time for them to move on. This may be as a result of that employee’s desire to take on a new career path, or they may have personal or family obligations that require them to leave their position. In cases like these,…
Read More7 Employee Retention Strategies That You Can Apply Today
Savvy business owners know it costs 5x – 6x the amount to acquire a new customer than to retain an existing one. This rings true for hiring and employee retention as well. A report by the Center of American Progress found the average cost to replace an employee varies from 16% up to 213% depending on the employee’s compensation level. In…
Read MoreThe 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 More4 Strategic Hiring Tips for SMEs to Beat the Tight Global Labor Market
Right now, economies all around the world are still performing reasonably well. At the same time, though, recession fears have started to ripple across the world, fed by an unstable global political climate. All the while though, businesses have to go on working, trying their best to account for the uncertainty. That’s no easy task.…
Read MoreHow to Improve Your Small Biz Digital Marketing
Small businesses are particularly challenged when it comes to marketing. Even though 89% of small businesses invest in marketing, limited budgets and lack of specialty staff can stymie their efforts. A new study, The Manifest 2019 Small Business Digital Marketing Survey, offers valuable insight on several fronts including recommendations for improvement. I’ve taken the liberty of adding…
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