Companies that partner with a payroll services company grow 9% faster compared to other small businesses. Every business owner is constantly seeking innovative ways to grow their company and their bottom line.
Employee turnover in your business is expensive. It can cost as much as twice an employees annual salary to replace an employee, not to mention lost wages, talent, and ideas when you don't keep employees within your company. Fortunately, there are strategies you can use to help prevent turnover and maximize satisfaction--and these ten key strategies can help.
Simply stated, innovation is the cornerstone of growth. In a competitive economy, the ability to create and manage innovation directly correlates with a company’s longevity. Just look at Blockbuster compared to Netflix!
As Hurricane Florence approaches the U.S. coast, it reminds us that natural disasters can strike quickly and often leave behind an overwhelming wake. Often times once the disaster has passed, we forget about it and continue with our daily lives until the next one occurs. But as evidenced by the tragedy in Puerto Rico, sometimes we never know just how devasting the damage will be and what the long term effects upon our lives and businesses might be.
Most companies know that the key to productivity and a successful overall bottom line is employee engagement. Traditional employee engagement has focused on creating a sense of stability, offering a path to career advancement, and investing in learning and development opportunities along the way. And though these are all still important components in today’s workforce, the emergence of the Millennials into the workplace necessitates a new approach for engagement.
A professional employer organization (PEO) provides comprehensive HR solutions for small and mid-size businesses. Payroll, benefits, HR, tax administration, and regulatory compliance assistance are some of the many services PEOs provide to growing businesses across the country. Small businesses that work with a PEO grow 7 to 9 percent faster, have employee turnover that is 10 to 14 percent lower, and are 50 percent less likely to go out of business.