Employee retention is valuable to most employers, but Glassdoor’s 2016 statistics highlight the importance of holding onto good employees. Recruiting worthy workers is both time consuming and expensive. It isn’t as simple as posting an ad and interviewing candidates. Instead, as Glassdoor stated, recruiting and retaining employees “starts from the inside out.” To obtain and keep the best, employers must focus on employee engagement with a clearly defined mission and transparency.
For businesses to thrive in today’s economy, finding and retaining the best employees is important. This is especially true for small businesses and nonprofits competing with larger businesses, and larger budgets, for top talent.
Editor's Note: This article has been updated with the most recent information from 2014. This post was originally published 10/7/2013. Being an "Employer of Choice" (EOC) means that candidates are eager to work for your small business, that people look up to your employees, that you receive unsolicited resumes, and that your most talented employees stay with your business throughout their careers. It's a coveted status. It signals your company's brand is top-notch. And, when your company brand is high, it's much less expensive to recruit and retain key employees.
Workplace conflict - we’ve all seen it or been a part of it. In fact, 85% of employees at all levels experience conflict to some degree. But, there must be some sort of way to handle workplace conflict, isn’t there? And as a small business owner, it’s important to understand every angle of conflict for a more thorough resolution. Why? Happy employees will lead to better retention. Knowing this, here are the do’s and don’ts of handling workplace conflict - along with general rules and scenarios to help you see the way these rules work.
America loves a good underdog story- the little guy going into the unknown and somehow coming out on top. This is the story of thousands of small businesses all over the country that are performing admirably in their respective - sometimes very difficult - situations. Many of these small businesses work tirelessly to find new ways to succeed, and achieving high employee retention remains a difficult battle for small business employers.
Despite the rebound in the U.S. economy and an improving job market, nearly 1 in 4 employees say they don’t trust their employer. And, only about half believe their employer is open and upfront with them. How important is trust to on-the-job satisfaction, and what does this mean for productivity and employee engagement?
Employee recruiting and retention. What's hot right now? What's working? If you're like the over 1,300 respondents of HR Daily Advisor's recruiting survey, then you likely use online recruiting and employee referrals as your main recruiting methods, and value "fair, respectful treatment” as the most important factor for employee retention.
One way small or growing businesses can gain a competitive edge is to focus on employee retention. Frequent voluntary turnover has a negative impact on employee morale, productivity, and company revenue. Recruiting and training a new employee requires staff time and money. Some studies predict that every time a business replaces a salaried employee, it costs 6 to 9 months’ salary (see: Cost of Losing an Employee). And turnover is especially high with the Millennial generation (employees born between ~1980 and 2000, and also known as Gen Y).
Every day we speak with small businesses who express that employee health benefits are becoming less lovable every year. So, how does your small business offer better health insurance, but at a sustainable cost? How do you offer employees access to better health insurance?
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. Zane Benefits, Inc. does not sell health insurance.