Is Your Employees’ Financial Stress Affecting Your Business?
More and more employees are worrying about their financial situation. This, according to the American Psychological Association, comes at levels that are higher than what is deemed acceptable. Younger people, parents, and those living on an income of less than $50,000 experience the most financial stress. If the describes your employees — then it’s something you should be concerned about as it affects your bottom line. Negative Impact on Health Not surprisingly, financial stress has a negative impact on health. On top of the list of many employee concerns is that to in order to make ends...
Read MoreBusiness Interruption Insurance: The Basics
A windstorm causes major damage to your office roof. A fire destroys a portion of your warehouse. A flood reduces key pieces of your equipment to rubble. These and other disasters can strike your company at any time, preventing you from carrying on with business as usual. You now have a cash flow problem: you cannot sell goods or services until you’ve made necessary repairs and replacements, yet you still have to meet payroll and cover rent, taxes and other expenses. This is when you need business interruption insurance. What is Business Interruption Insurance? While your general business...
Read MoreAdd More Fun to Your Company Culture
You know that nurturing a positive company culture is good for business. Not only does it help to attract high quality job applicants when you need to fill an open position, it also keeps your current staff engaged in their work. This means fewer absences, greater productivity and less employee turnover. But here’s something you may not have known: it can do all of that while still being fun. Successful companies such as Google—with its nap pods, video games, foosball, and ping-pong tables—have proven it. They’re the best in their business, consistently ranking among top places to work and...
Read MorePolicies Every Employee Handbook Should Cover
You wouldn’t expect a builder to create a structure without a blueprint. Nor would you expect your employees to succeed in their jobs without a clear picture of what you expect from them. Taking the time to ensure you’ve established a mutual understanding of expectations is actually essential if you want to employ workers who follow the rules of your establishment, get along with each other, and perform their jobs admirably. Your employee handbook can support you in this endeavor—if you draft one that covers all the bases. Consider the following 10 policies every employee handbook should...
Read MoreLose Fewer New Hires with an Improved Onboarding Process
According to the Society for Human Resource Management (SHRM), 50 percent of our nation’s hourly workers will leave a new job within the first four months. Half of outside hires placed in senior positions fail at their jobs within 18 months. Both statistics describe costly situations; a review of related studies conducted by the Center for American Progress found it costs a business an average of 20 percent of the worker’s salary to replace an employee who earns $75,000 or less a year. Fortunately, the right onboarding process—starting before that first day on the job—can decrease expensive...
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