Job retention is critical for employers due to the high cost of onboarding. Voluntary employee turnover, though, is expected to increase about 30 percent by 2023. The cost of hiring an employee can be as much as a third of their salary, according to a recent Work Institute report. Here are measures you can take to retain your most productive employees and reduce turnover.
Businesses now spend more money on hiring than ever before, as many rely on outsourcing to third-party recruiting firms. The question managers face is: how can the hiring process improve to deliver the best talent? Here’s a look at ways to refine the process.
Entreprenuers have plenty to deal with and get in place when launching a start-up. Some struggle to ever break free of the initial launch beyond the home office space. Oddly enough, many start-ups end up occupying multiple spaces during the early stage of their launch. In some cases, failing to find a home for your business can also lead to you not landing funding for your business launch and expansion.
As a small business owner, you are the chief cook and bottle washer of your business operations.
The coronavirus pandemic brought along several changes in personal and professional lifestyles. Individuals and companies had to adjust to quarantine and isolation measures to contain the virus. The transition from working from offices to remote work or telecommuting is probably one of the significant changes. Pre-COVID, most companies resisted such work models, assuming it will harm company culture and affect productivity.
A survey published by Reuters in 2009 stated that four out of five employees working in the U.S. were dissatisfied with their performance evaluations. Polled workers say they dread them, and many employers feel the same.
The pandemic has dramatically changed many aspects of our lives this year; the ways we now work, travel, shop, and engage with others can seem unrecognizable compared to just a few months ago.
Business resilience determines its success in the ever-increasing volatility of the business environment. Currently, the world is faced with the COVID-19 pandemic that has left 230,104 people dead.
Robots have come a long way since they were introduced in literature over a century ago. Now they participate in real life HR departments to help with recruiting. Here are some of the many ways artificial intelligence is revolutionizing the hiring process.
Well-managed business finances provide an easy snapshot for potential investors, partners, and donors while also providing a mirror from which to glean what is working and what is not and where to prioritize resource allocation. Both of these aspects are important to any business but especially to entrepreneurs on the iterative path of innovation and experimentation, growth-seeking, and future planning.