Employee retention is something that many businesses struggle with, and higher turnover rates come along with that. According to the Bureau of Labor Statistics latest Job Openings and Labor Turnover Summary, approximately 3.5 million employees quit their jobs in April 2019 alone. Employee resignation requires businesses to fill that employee’s position quickly, which is stressful. Additionally, employee replacement comes at a cost to the business. A recent study by the Society of Human Resource Management (SHRM) discovered that the average cost per hire is around $4,000. This is costly because businesses have to spend time training the employee until they contribute to the ROI. Since turnover can be costly to your business financially and socially, you will want to try your best to keep your valued employees at your workplace. So, what are some reasons as to why your employees are leaving?
Tag: company culture
Contributed by Shachar Shamir
For businesses of all sizes, strong relationships between team members is the most important foundation to the success of team projects. While no one is expected to be best friends with their colleagues, strengthening your team’s ability to collaborate and openly communicate with one another can prevent projects from stalling, while creating a more positive work environment. Here are some of the ways managers can improve team dynamics in order to speed up the workflow, increase overall efficiency, and boost employee morale.
If you want your business to excel, your employees need to feel appreciated. When they don’t, their passion for their work wanes, and they start to give it less effort. But when your employees feel valued, they’re motivated and engaged. They put more into their work, which benefits the company in obvious ways.
A strong company culture is an important factor in your business success. It makes a better impression on clients and partners, creates a more productive and professional atmosphere, and makes it easier to recruit and retain top talent for your workforce.
A cohesive, mission-centric culture will help you improve employee engagement and spot functional problems more quickly. An effective company culture is the foundation for making and sustaining improvements.
Here are some of the key factors in building a strong culture within your company.
While past generations were just grateful to have jobs in the midst of war and depression, the Millennials of today want much more than to just pay the bills. Having been raised in a time of financial prosperity and numerous advances in technology, their focus is not on job security. Instead, it’s on things like having a job they love, at a company with values they appreciate, using state-of-the-art technology, benefiting from awesome perks, feeling a sense of community and purpose, and more.
Telecommuting seems to be a mixed bag of benefits and problems in the minds of many employers but it doesn’t have to be. If implemented and managed carefully, working from home could offer nothing but benefits for the right people.
We have a lot of experience with telecommuting here at Timesheets.com – many of our employees telecommute and we offer software that makes it easier to manage telecommuters.
Fun At Work Day. That sounds like an oxymoron, doesn’t it? Work is where you get stuff done. Fun is where you don’t. But that’s not entirely true. The two often overlap and, if work (and life) is to be enjoyed, they definitely should sometimes. Our culture is beginning to catch on to this and the needs of employees are becoming a top priority. Employers are beginning to recognize that most workers don’t check their humanity at the door as soon as the clock strikes 9am. Most of us continue to laugh, smile, joke, and feel the world around us no matter what time of day it is.