Venture Enterprises Ltd

Posts Tagged ‘Employee’

Employee Engagement is a hot management topic these days, but how do you cause employees to become engaged? Did you know that rewards have a negative impact? Find out in the upcoming video. www.bensimonton.com where leadership is a science Part 1 What is the goal when managing people? youtu.be Part 2: What is leadership? www.youtube.com The ROI on Your Time? LEARN: how to lead people; how to increase productivity by 30% and up to 300% (maybe more) per person; essential leadership skills that you can teach your directs; how to coach employees to be Superstars; how to manage people without stress; how to increase morale and decrease turnover; how to create trust and commitment; how to engage employees!!
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Since the founding of LR 20 years ago, our name stands for wellbeing and beauty in already 26 countries worldwide. Year after year we record an increase in turnover, which is largely due to the great success stories of approx. 250 000 independent LR Consultants.
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The price you’ll really pay when an employee leaves could shock you!  Contrary to popular belief, when an employee leaves the job soon after he or she starts, it is not the price of another “Help Wanted” ad that is your biggest financial burden. In fact, that is one of the least expensive costs! 

Statistics show that when a person vacates a job within 3 months of hire, you and your company will end up paying — in dollars and cents — about what you would have paid that person in one year! A hefty price for poor planning? The answer is a resounding “YES”! 

With that in mind, think about your newest hire.  Think about all the time, effort and resources you put in to find this person.  What can you do to keep him/her from leaving to go work with your closest competitor?  

Think about the far-reaching effects of turnover: 

Overworked Staff:  While a departing employee’s days with you come to an end, his/her paperwork and ongoing tasks do not. It is often necessary to pay the remaining staff overtime to cover the workload in order to meet preset deadlines and satisfy the needs of busy clients.  If your staff are salaried you will not pay them additional dollars; however, your price will be the camaraderie lost among your employees as they become increasingly resentful of being overworked, pushed to their limits.   

Service:  Incalculable financial opportunities are lost by your company when your representative is no longer there to quickly quote prices for additional insurance products, deal with emergencies, answer questions, and resolve problems. Clients start to feel abandoned, when the face or voice they were just starting to feel comfortable with is replaced. The sense of relief and well being that many clients feel when dealing with someone familiar to them diminishes and takes time to be

Many companies are finding it increasingly difficult to retain employees. Turnover has becoming a serious problem in today’s corporate environment. The employment culture is changing as more employees are demanding more and more balance between work and personal/family life; it is not uncommon to see people changing jobs every few years.

Turnover costs for many businesses are very high, resulting in a huge impact in the financial aspect of an organization.

Turnover costs include:

Recruitment costs – Job position advertising

Training costs

Increase in workloads and overtime expenses before the replacement is ready to take on the responsibility of the job position

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Now because the company is short on staff, productivity is reduced resulting in an overall reduction in profits and growth.

Now I hope you get a clear idea of how serious this can be!

This is why hiring the right people initially is extremely important! It is best of the candidate shares the same vision as the company and proposes a will to follow and grow with the company.

Another way to reduce employee turnover is to make the company employee-oriented, focusing on interactions between all levels in the organization – from workers, to supervisors, managers, and directors. If one can feel part of the company as a whole, trust and loyalty can be built up between employees. Does your company’s environment openly encourage communications and feedbacks from employees?

Attractive compensation packages also help to retain the employees. The top companies that have low employee turnover have attractive compensation packages such as health and dental benefits, RRSP packages and healthy work environment. Many companies offer vacations packages, and other freebies such as free

Every employer experiences turnover. But how do you determine if your attrition is “normal” or average, or if there is something more serious going on with the staff or work environment?

Turnover can be very costly to a practice. With each employee who leaves, much time and money go out the door with that person. Being short-staffed can be particularly challenging in a medical practice environment, because patients don’t stop getting sick or stop scheduling appointments just because your key staff member(s) quit today.                     

Sometimes turnover can even have a “snowball” effect – once one or two people leave, others will follow, and then you’re left scrambling to put the staff back together.

Below are a few ways you can assess and engage your staff to help prevent or reduce high turnover in your practice.

Review your hiring/firing history for at least the past year, or few years, if possible. To calculate a more precise turnover rate, there are numerous turnover calculators to help you determine turnover rate, such as this one at ExpressPros.com.

If your rate is much higher than 12-15%, there may be an issue. You probably don’t need to be seriously concerned unless your turnover rate is significantly higher, in the 25%-plus range.

Then you need to determine which turnover was due to external factors beyond your control, and which turnover was prompted by internal factors that you could control, prevent, or reduce.

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If you are not sure why your people leave their jobs at your office, that’s one place to start – by asking detailed questions when people resign – and then read

   Frankly, I don’t believe in paying minimum wage.

 

   This doesn’t mean I don’t believe in a minimum wage which must be paid.

 

   It means I don’t believe in paying only minimum wage.

 

   Why? For two reasons:

 

   One, because in return for paying only minimum wage, you usually get minimum employees who are motivated to deliver minimum effort, which isn’t good for either one of you.

 

   I suggest that paying minimum wage typically sends employees this message on one level or another:

 

   “You and the work you do for us have so little value that we’re going to pay you as little as we can possibly get away with by law.”

 

   That’s not exactly a good premise on which to attract capable, hard-working employees with the intent of keeping them. And people often associate their self worth with the jobs they do, and what they pay.

 

   Yes, I realize every little increase costs businesses, especially small ones, plenty.  When I signed payroll checks for a small family business several years ago, I was amazed at the amounts we paid in taxes and FICA after small pay increases.

 

   Two, if you have employees making minimum wage, studies have shown they may leave for another employer for as little as a 5% increase in their hourly wage!

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   Let’s do some math.

 

   The current federal minimum hourly wage for covered nonexempt employees is .25. A 5% increase amounts to just over 36 cents per hour, .40 per week, .92 per month, and 3.04 more in annual wages.

 

   Adding a 7.65% FICA cost of 8.43, the employer now pays ,311.47 more (3.04 plus 8.43).

 

   However, assuming this is a reasonably

Stop the Revolving Door of Employee Turnover: Assessment Tools Have Advanced so Companies Can Now Identify, Select, and Retain Top Performing Employees , How to Increase Turnover, http://www.prweb.com/releases/2005/01/prweb200787.htm, , The challenge and cost of turnover is one of the most discussed, most frustrating and most misunderstood problems businesses face. CEO’s have identified employee retention as one of their key challenges in 2005. Yet organizations continue to struggle. Why?

Corporate Employee Engagement (CEE) is the sense of an employee’s purpose and meaning within their position leading to increased productivity. It is an essential part of having effective management and a high-performance culture within the organization as employees understand their roles and purpose.

TYPES OF EMPLOYEES

There are three major types of employees within an organization. The first type is the engaged employee who has a sense of purpose and understand his/her impact on the organization. The second type is the disengaged employee who do not understand how his or her purpose nor the impact on the organization. The final type is the actively disengaged employees who act out their insecurities within their positions and undermine other co-workers.

Both disengaged and actively disengaged employees have low productivity, poor health, and work-related stress leading to their resignations. Exiting employees lead to operational inefficiencies and negative customer satisfaction. The organization suffers due to increasing turnover costs and eroding corporate profits.

BENEFITS OF A CEE PROGRAM

According to Hewitt Quarterly Asia Pacific, a newsletter provided by Aon Hewitt who specializes with strategic human resources consulting services, organizations with high employee engagement are 78% more productive and 40% more profitable. A profitable organization with an under engaged workforce will have profits that are short-lived compared to an underperforming organization with highly engaged workforce. Organizations applying a CEE program nurture the best teams with loyal and innovative employees allowing for greater improvement in productivity and revenue growth.

CORPORATE CULTURE

Developing a CEE program begins with creating the proper corporate culture where hope empowers will. Hope needs direction otherwise it could lead to pessimism or an unlikely

Plugging the Memory Drain Caused by Employee Turnover is Critical to Securing a Company?s Success; Hiring Expert, Robert Cameron Examines the Issue and the Solutions , How to Increase Turnover, http://www.prweb.com/releases/2005/11/prweb304916.htm, , Robert Cameron reveals the problems caused by the loss of long term employees. He then discusses two easy steps that can be used to head off these problems and lessen the level of employee turnover.

5 Easy Steps to Perfect Employee Performance
Brilliant 130 Pages + Bonus Reports, Videos and Personal Coaching Session show Business Owners and Managers how to Find and Retain the Right Staff. A truly unique approach based on the authors successful personal teambuilding formula.
5 Easy Steps to Perfect Employee Performance

Having great health care these days is very important, as more and more people lose their jobs finding an affordable plan that meets and individual’s or a family’s every need is becoming more scarce. This is why Humana Health has put together a number of great plans that will help individuals, families, and employers help keep their loved ones safe. As the economy begins to balance out more and more employers are finding out that supplying a health care plan for their employees is harder than they once thought this is why Humana health has put together a great play for employers who are looking to help their employees get the coverage that they deserve at a cost that they can afford.

Everyone wants a health care plan that they can be in charge of themselves and with Humana health this is possible. When you are offered a Humana healthcare plan through your employer you will be able to choose how in depth you want your coverage to go, depending on how much coverage you want the prices will vary. Through Humana health plans, employers will not only save money, but employees will as well. One of the added benefits of this is that employees will be able to sit down with a Humana health representative and figure out a plan that best fits their needs. If they have kids or a spouse there are also family plans that are offered through group insurance. One of the things that Humana health prides itself on is the fact that many of the families that are offered insurance through a group plan through their employer would not be able to afford insurance any other way. Many family plans are much too expensive for people if they look to purchase them outside of a group plan, but not Humana, their affordable rates through both the family plans and their group plans give