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 […]
Retention
How 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 […]
4 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. […]
How 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 […]
Is There a Human in There Somewhere?
My dad passed away almost a year ago and, as executor, I had to make a lot of official phone calls to everyone from the social security administration to Hyundai where his car lease was financed. Sometimes I got a human and other times I did not. In almost all cases, I started with someone […]
How Can Your Startup Retain Staff as You Grow? Do These 8 Things
A company is only as good as its employees, but startups have additional pressure to attract the right talent and retain it. When the budget doesn’t allow for turnover, it’s especially important to find the right people and ensure they grow with the business instead of seeking greener pastures. So what can startups do to […]
How Custom Career Paths Can Increase Your Retention, Revenue, & Efficiency
Three months ago I began a custom career path at Seer Interactive so I could follow my dreams of working remotely while traveling the world. It took three months of research and 100 hours to build a new role within Seer that can be accomplished in 20 hours a week from anywhere on the globe […]
What About Sales Person Retention?
Retention is a hot topic—customer retention that is. We’ve all seen data around customer acquisition costs. Basically, the cost of acquiring new customers is several time higher than the cost of retaining and growing existing customers. The whole subscription model, on which all SaaS and XaaS companies are built has customer retention as a fundamental […]
Tax Advantages: Reimbursing Employees for Education
Reimbursing employees for education expenses can both strengthen the capabilities of your staff and help you retain them. In addition, you and your employees may be able to save valuable tax dollars. But you have to follow IRS rules. Here are a couple of options for maximizing tax savings. An Employee Fringe Benefit Qualifying reimbursements […]
3 Ways to Keep Your Best Talent for the Long Haul
When trying to get a startup off the ground, so much time and effort goes into developing the product and reaching the customer that founders often forget about the most important part of the company – the team. It’s no secret that a strong and dedicated team is the key to growing a successful business, […]
