(Posted by Rick Dacri on August 28, 2013)
The summer is nearly over and now it’s time to look forward to the fall. I wanted to check in with you and suggest a check-up on your operation. The economy continues to heat up and there’s a lot happening, so I wanted to take a moment to provide you a brief list of important items you should be focusing on to help you make managing your business a bit easier:
1. Turnover is Increasing: With an improving market, there is strong evidence that employees are feeling more confident and many, particularly coveted star performers, are beginning to look to make job changes. That’s not good for you.
Advice: Make sure your managers and supervisors are focused on employee retention. Implement a progressive retention program and initiate an annual employee satisfaction survey to take a pulse of your organization.
2. ACA Deadlines: Deadlines for the Affordable Care Act are upon us.
My Advice: Make sure your plan meets all the new requirements and plan to provide employee education programs. You may also want to change your new enrollments dates and your benefit eligibility requirements. Update your classifications for full-time and part-time employees and evaluate whether it makes sense to restructure your staffing to address “pay or play” thresholds.
3. Evaluate Your Hiring: As the economy expands, you may find the need to add staff. With an improving economy, finding good people is proving more difficult.
My Advice: Continue reading
(Posted by Rick Dacri on August 27, 2013)
The economy is improving and employees are feeling confident about entering the job market. Here are five tips to help you retain your good employees:
- Hire right. Managers often hire their turnover by making bad hires.
- Encourage turnover. This ma seem counterintuitive, but employees who don’t want to be working for you or who are not performing should be encouraged to go. Keeping them results in good performers looking for better opportunities elsewhere.
- Hold managers accountable for retention. If reducing turnover is truly important, then establishing acceptable retention standards and managing to them is critical.
- Talk to your employees. Tell employees how important they are to you and your organization. This will be a powerful conversation—one that most employees never experience in their career.
- Make them an offer they can’t refuse. Retaining workers requires making good hire decisions, investing in their growth, and creating a work environment they’ll love and not want to leave. It also means developing a management style that inspires respect, loyalty and appreciate. Employees quit bosses, not jobs.
Maintaining a stable workforce is an essential ingredient in growing your organization. Do what you need to do to retain your best employees.
If you want to know how I can help you retain your star performers, click Dacri & Associates.
Other posts you may want to read:
- Where Has Company Loyalty Gone?
- Costly Turnover Can Be Controlled
- Making Managing Easy