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Retain Good Employees Workspace

Our friends over at www.findmyworkspace.com provide tips on how you can ensure the longevity of your good employees.

One of the biggest challenges of an entrepreneur is how to attract and recruit good talent. And once you build your dream workforce, you have to do your best to keep your employees. High employee turnover rate costs the company time, money and productivity. It can also negatively impact workplace morale and disrupt the working dynamics in your organization.

It is no secret that recruiting and training new team members cost significantly more than retaining your current employees.

Your “rockstar” employees are those whose skills match your requirements; they have a healthy working attitude and they also jive well with your organization’s culture. They are rare gems and you have to take deliberate action plans to retain them. The key is to start now and do not wait until they are halfway out the door before you move.

1. Offer competitive compensation, benefits and perks.

The easiest way for another company to pirate your star employee is through higher monetary pay and other benefits. If you can afford it, raise your employee’s salary to be at par with the industry or even higher.

The good ones especially deserve it. It also communicates to people that you respect their contributions and efforts and that you value them.

Insurance (health, life) is usually very much appreciated.

Consider also non-monetary perks such as flexi-time and work from home arrangements / telecommuting, so that your employees can enjoy better work-life balance.

Some companies also include unique perks such as happy hour fridays, pizza days or free grocery or laundry pick-up.

2. Have clear job descriptions and expectations.

Employees stay longer when they fully understand their role and feel significant in the company. A detailed job description helps people understand the scope of their responsibility and know what’s expected of them.

Keep in mind also not to give employees additional functions not stated on the job description, unless it has been clearly discussed and agreed on.

Setting clear targets and objectives at the start of the annual or fiscal year is crucial for any organization. Do not leave your employees guessing as to what results are expected.

Properly rewarding them for a job well done gives them a sense of accomplishment and oneness with the company.

3. Establish a good relationship with your employees.

Experts stress the importance of talking to your employees- getting their feedback and inputs, knowing how they are and what they are feeling, expressing your appreciation for them, etc.

Ask them these questions: Why are you here? What do you like most about working here? What do you like least? What is your main reason for staying? What would make you leave? What would you like to change about this organization? What can I do for you?

Opening lines of communication with your employees reassures them that they can ask questions and offer their suggestions without fear of repercussion.

Try to have a comprehensive talk / review with your employees regularly- maybe twice per year or once per quarter.

4. Provide a growth plan and career advancement.

Foster your employee’s personal and professional development through trainings and workshops. Allowing them time-off from work to attend seminars and investing in their growth would go a long way in helping them feel valued.

Great employees are those who are keen to grow and do new things. People who want to learn become demotivated when they start to see their current job as a dead-end road. Encourage the thirst for learning by giving them a clear career path for advancement. Communicate the path that you see for them in your company and make sure to promote from within when the opportunity arises.

5. Get them on board on the company’s mission and vision.

Let them feel connected to the organization’s goals and objectives. When employees see the bigger picture, they feel excited to be part of the team that will bring the company closer to the achievement of this vision.

Remember that your people are your most important asset. It’s crucial that you value and take good care of your employees. Make it your aim to build long-lasting and mutually beneficial working relationships with each of your team member.

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Gemma Reeves is a seasoned writer who enjoys creating helpful articles and interesting stories. She has worked with several clients across different industries such as advertising, online marketing, technology, healthcare, family matters, and more. She is also an aspiring entrepreneur who is engaged in assisting other aspiring entrepreneurs in finding the best office space for their business.

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Business

How To Make Business Life So Much More Favourable

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If you have a business or you’re heavily considering starting a business, then you’ll know all about the perils and the difficulties that will come with it all. While it seems like such a wonderful idea from the outside looking in, it’s actually something that can really take its toll on you if you’re not prepared enough both mentally and physically. 

You’ll always be looking for ways to make business life an awful lot more convenient. The idea in this game is obviously to work hard as you never get anywhere without a serious commitment. You’ll really want to focus on working smart, however. Hard work for no reason is foolish when you have much better ideas and techniques staring you in the face. Business life can be a real hassle if you get things wrong and have to go through laborious days. Here are just a few ways to make your days, weeks, and months a lot more favorable for you: 

Get The Right People Around You  

Who you share your time with in business matters so much. If you have all of the wrong people, then you could be on a downward slant over the next few years. If you have good people with the right attitude and intentions, then you’ll likely become a lot more successful. In terms of using the right people, we’re talking about networking, hiring staff, bringing in specialists, soliciting advice, and so many other areas. Business is an interpersonal game, so make sure the right groups and individuals work with what you’re trying to achieve. 

Embrace Technology A Lot More Than Perhaps You Are Right Now 

If you’re already someone who wants to milk every platform they have, then this idea won’t worry you too much. There are so many pieces of ai powered software around that will help you with what you’re trying to achieve. Analytics, ads, management, and so many other areas can be bolstered with good programs. 

Set Up Genuine Plans With Achievable Goals 

This sort of goes without saying because you’ll likely have plans for the tasks ahead. This is more the idea of creating more structured plans for areas that are perhaps freer and less structured. Setting goals for everything you do can lead you to understand more about what needs to be done. It also gets everyone even more motivated. 

Take Care Of The People Working With You 

In terms of those you’re with, you’re going to need to treat them properly. It’s amazing what can happen if you neglect how they feel and the work they put in. The best leaders will always hone in on each individual and check in with them. 

Outsource Certain Jobs That Are Tedious

Sometimes, there are particular tasks that – although they need to be done – take up lots of unnecessary time and stress. If you are outsourcing admin, for instance, it makes life a lot easier for you as you all can focus on the productive and progressive side. 

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Current Trends in Business That Every Entrepreneur Should Work Towards Achieving

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The world of business is changing and with it the trends that entrepreneurs should be working towards. Entrepreneurship has become a lifestyle as opposed to just a paycheck. With an entrepreneurial mindset, you can do anything. Check out these current trends in business that every entrepreneur should work on achieving:

E-Commerce

E-commerce has been a significant trend for the past few years, and you can expect it to continue being so. E-commerce has multiple benefits, including increased revenue, high availability of products, and a more significant customer base.

E-commerce allows businesses to be present on all digital platforms, which helps them reach out to more customers quickly. In addition, it makes it easier for companies to reduce overhead expenses as there are no physical stores that have rent costs associated with them or inventory levels that need maintenance constantly. Statistically, e-commerce has grown rapidly in the past few years from 25% – 30% year on year.

Financial Apps and Software

The software aspect comes into play when considering how businesses manage their finances moving forward. Companies must adapt to technology. Otherwise, they will find themselves left behind by competitors who embrace emerging technologies such as cloud computing and mobile apps. It is also easier to make purchases using these apps and communicate with the sellers. Incorporating such software with equipment and partnerships with a payment processing company will diversify the business activities and set you up for expansion.

These apps allow them to move away from traditional forms of financial management such as spreadsheets and accounting software to financial management apps such as Xero. With these new apps comes the ability to monitor business finances from anywhere, which can help businesses grow faster than what they would ordinarily be able to manage with slower conventional processes.

Blockchain Tech

Blockchain tech is the current trend in business that every entrepreneur should work towards achieving. You can apply this technology to many different industries, and entrepreneurs need to find their niche within this growing market. It’s also critically important not to overlook blockchain tech when deciding which cryptocurrency or token you want your company associated with.

Both positive and negative factors are involved in choosing one solution over another, but it all comes down to finding what works best for each situation. For example, today’s most valuable aspect of blockchain tech is its promotion of secure transactions between parties while eliminating third-party transaction fees (or at least significantly reducing them).

It means that businesses operating on a global scale could potentially enjoy significant savings in maintaining financial records. Transparency is also an important selling point for blockchain tech. The decentralized nature of its design makes all transactions public and easily accessible by anyone who has access.

Fraud and Cyber Crime

Another current trend that every entrepreneur should work towards achieving is fraud and cybercrime. In today’s modern world, the internet has brought the business community closer together as it allows you to reach a global market from almost anywhere with an Internet connection. Unfortunately, this means those who want to take advantage of this have access to millions of more potential customers, making it easier for fraudsters to steal money from unsuspecting victims.

Businesses that are not careful can fall victim to several types of cybercrime, including phishing, spoofing, pharming, and identity theft. These crimes are increasing at an alarming rate as more people use the internet for business purposes which means scammers often target them.

Conclusion

Today, business is becoming increasingly challenging. The traditional ways of doing things don’t work anymore, and it’s time for entrepreneurs to adapt to stay relevant within the industry. However, the industry itself is evolving rapidly, and it’s challenging to keep up with the changes that are happening every day. Fortunately for you, this post is here to help you understand the current trends that every entrepreneur should work towards achieving.

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Employee Training and Development Becomes One of the Most Disruptive Megatrends That Is Shaping the Future of Work

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Employee training

There is no question about the effectiveness of employee training and development. It’s incredibly important to help your staff advance their skills and knowledge to help grow a business, but the impact of employee learning has often been understated and even neglected. However, companies are now suggesting that employee training and development is one of the biggest megatrends that have completely transformed the future of work. It has overhauled how businesses should be developing and engaging with employees, and it’s leading to an incredibly diverse and talented workforce that is capable of wonderful new things.

Part of the problem of employee training and development is that it’s difficult to measure its impact on the workplace. Employee performance often isn’t a quantitative measurement that is easy to read and link to their output. This is one of the reasons why the effectiveness of employee training and development has been questioned by management experts.

Thankfully, new strategies have been developed to help measure workplace learning and its impact on companies. Below, we’ve included a helpful infographic that covers some of the most important measurements, such as return on investment and how it is calculated in the context of employee learning and development. It should put the effectiveness of employee training into perspective and will help you better understand when training is needed and how development actually improves your business and its productivity.


Infographic by: Ezra Coaching
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