“A staggering 83% of employers believe attracting and retaining talent”(1) is one of the primary challenges for their recruiting and hiring teams.
For this reason, a realistic lens must be used when viewing or creating an employee retention strategy. As the lifespan of employees shortens, HR teams are faced with the challenge of turning employee retention best practice plans.
To take a realistic approach to employee retention, successful businesses focus energies and efforts on the hiring process, conducting regular pay analysis, and enabling growth and development within the organization.
Starting at the very beginning with the application, hiring process, and talent management, organizations who have been able to create and uphold realistic employee retention strategies are those where the leaders are creative and inspired, and the employees are motivated and feel valued. Ensure the hiring process includes the vetting of candidates in terms of whether they are a good fit culturally. Workplace culture, or the lack thereof, could be one of the primary factors behind higher attrition at your company.
Regular review of employee salaries and pay analysis is necessary to ensure all employees are paid within the industry standard, in addition to what is appropriate based on their skill set and responsibilities. Every organization differs in terms of amount, how positions are paid, and the responsibilities that make up each position. These are necessary elements when reviewing pay structure and roles. The end goal, however, is to pay employees fairly and keep them engaged and motivated.
Employees find growth and development to be a major factor in staying motivated and in showing professional progress toward their next career goal. Consider including opportunities for the adoption of new hard skills, the refinement of specific soft skills, job shadowing in complementary roles, or giving employees the ability to broaden their knowledge in an area of their choosing. Regardless of the method, it’s important that the organization supports the employees’ desire to achieve a goal and stay motivated.
Job satisfaction and employee engagement feed directly into employee retention. This, in addition to refining your existing hiring process, conducting a regular pay analysis, and enabling employee growth and development will aid in improving employee retention, overall. Contact Harbor America to learn how integrated HR technology can reduce employee turnover and accelerate organizational growth.
1 HRDive: Survey: Applicant Quality Continues to Plague Employers
As seen originally on VensureHR Blog: July 2, 2019.
Most business owners are initially driven with the purpose of becoming their own boss, but the reality is they are also becoming a cog in the economic wheel drives the nation. 57.9 million people are employed by small businesses which currently makes up 47.8% of U.S. employees.
Although small businesses are a dynamic part of our nation, they are less likely than ever to offer competitive benefits packages due to the company not having affordable access to enterprise-level benefits.
There are many reasons people love supporting and shopping with small businesses. As the business owner, you have a way to make each customer feel special by customizing and adding personal touches to their experiences.
Customers that like the boutique shopping experience will appreciate the details of higher quality products that stem from the passion, energy, and effort devoted to the business.
From small businesses to Fortune 500 companies, new, top candidates are attracted to work for the organization, many times, based on the employee benefits package. Quality benefits include 401(k) plans; health, dental, life, and other insurance; dependent care; and other benefits they might not typically receive as employees of a small company.
What if you could have the best of both worlds? With a PEO in your corner, you can! Being a part of the largest privately-owned PEO in the country, we allow you, the small business owner, to improve productivity and profitability, and to focus on the core missions of your company. All while keeping the small business values that Americans crave in their product and service needs.
Don’t become another statistic. Contact Harbor America to find out how we can giving your small businesses the quality of benefits your employees deserve.
It is common for land and building owners to find themselves with a parcel of unused, vacant land or a vacant building from time to time. What most owners forget is that it is still important to consider risks associated with the land or building. For example, if an individual is injured on the land parcel, the landowner is still liable.
Land owners must ensure adequate protection and coverage is obtained to ensure they are minimizing risks as much as possible. Limit liability by making sure the property is free of significant hazards that could cause injuries to anyone on the property. Properly cover or block ditches or physical features of the land that could cause unwarranted injury. Additionally, land owners can post signage to help inform the public and keep trespassers out and away from danger.
Dangers on vacant land also extend to construction workers. Theft, trespassing, or fires are regular threats to vacant construction sites. Construction sites are an obvious choice for thieves and vandalism due to the number of structures and availability to expensive equipment and tools. In the last four years, nearly 1,800 vacant buildings under construction were reported on fire to different fire departments across the country.
Owners of vacant property are advised to look into vacant property insurance to help protect against any of the following risks:
- Lightning damage
- Civil commotion damage
- Presence of squatters
If an occupied property becomes vacant, it is imperative to notify your risk carrier immediately to help protect against any losses. Failure to do so may result in denied coverage of the claim. The risks and regulations for vacant land and buildings will vary from state to state, as will the different available insurance options.
To learn more about protecting your business from risks associated with vacant land or buildings, contact Harbor America.