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Article Check - Salary & Rewards To Maximise Employee Retention
When it comes to inducting new employees into your business you only get one chance.Get it wrong and you have started to sow the seeds of doubt in the mind of your new starter in the first few weeks.Get it right and it will make a huge difference to how the person settles in. Without being perfectionist, the key is to make sure that every new starter feels excited and positive that they have made the right choice in joining your business.The way to do this is to:1. Get The Practical Stuff RightMake sure you have practical aspects such as a desk, phone and computer ready, with a password. Get their name added to your email system or have a uniform ready for them as appropriate.Will they need b
A new industry of high-technology medical billing has mushroomed under the auspices of its promise to streamline the collections process and leave doctors with more time to care for their patients. Though many high-quality services and systems exist, an overwhelming variety of options and attractive (yet unsubstantiated) performance claims from some providers have charmed busy doctors into making poor strategic decisions for their practices. "It is surprising how many clinics use a 5-year ROI analysis to justify an investment in technology that will become obsolete in 2-3 years," says Dr. Frischer, a Clinical Professor at Stony Brook University and three times named in New York Magazine's survey of the best doctors in the Metropoli
But what is clear is that a team member’s dissatisfaction with pay is very often the catalyst for them to start looking. An individual may already be frustrated with a number of factors, but the financial factors typically act as the ‘trigger’ to update their CV and start applying for new positions.
This means that getting your pay structure right really is a key aspect of retaining the right people.
But when it comes to setting pay levels, it is not necessarily about “paying the most”, but more about ensuring that the way you remunerate your team is fair, consistent and competitive.
Here are 7 tips to making this happen in your business:
1. Know Your Marketplace
One of the keys to retaining customers and customers is to understand what is happening in the external market with respect to competitors, products, services and pricing and then to adapt your own offering to ensure you continue to maintain your competitive edge.
<Today I would like to explore some reasons why a prospective customer may not buy from you. Aside from the normal window shopper, or browser that is just bored and is just looking for the lack of something better to do at the moment. Of course we are looking at these as reasons that apply to your on-line business, however I am sure you will see how they could also apply to an off-line store/business as well. So let’s take a look.1. You are not establishing a feeling of safety when your customer wants to place an order. Keep in mind that this is the internet and you will need to have reminders in the form of seals from known on-line security systems that will put your customers at ease. Always, let me repeat that, ALWAYS have t
But what is clear is that a team member’s dissatisfaction with pay is very often the catalyst for them to start looking. An individual may already be frustrated with a number of factors, but the financial factors typically act as the ‘trigger’ to update their CV and start applying for new positions.
This means that getting your pay structure right really is a key aspect of retaining the right people.
But when it comes to setting pay levels, it is not necessarily about “paying the most”, but more about ensuring that the way you remunerate your team is fair, consistent and competitive.
Here are 7 tips to making this happen in your business:
1. Know Your Marketplace
One of the keys to retaining customers and customers is to understand what is happening in the external market with respect to competitors, products, services and pricing and then to adapt your own offering to ensure you continue to maintain your competitive edge.
1. Eat healthy. When you're trucking over America's roadways, you are limited in you meal choices. I have read that the #1 dinner meal served at truck stops is the chicken fried steak. If you're trying for a healthier diet, try to avoid that dinner. Opt for the salad bar and choose a low-fat dressing or try just using vinegar if the taste appeals to you. Choose grilled (not fried) chicken or fish with steamed vegetables as a side. In an ideal trucking world, you should look into getting a small refrigerator in your truck and stop often at local grocery stores to stock up on fruits and vegetables. You can use a plug-in cooler (truck stops sell them, as well as stores like Wal-Mart) but they do not stay as cold as an a
This means that getting your pay structure right really is a key aspect of retaining the right people.
But when it comes to setting pay levels, it is not necessarily about “paying the most”, but more about ensuring that the way you remunerate your team is fair, consistent and competitive.
Here are 7 tips to making this happen in your business:
1. Know Your Marketplace
One of the keys to retaining customers and customers is to understand what is happening in the external market with respect to competitors, products, services and pricing and then to adapt your own offering to ensure you continue to maintain your competitive edge.
Having been involved in the franchising industry I have seen a lot of well-intentioned advertisements that simply did not pull and often I would cringe when I looked at some of those ads. But it was not just our franchise company franchisees that needed help, truly it is most all small business people.We finally instituted a plan that our franchisees had to fax us a copy of their ad 24-hours prior to sending in for publication, if they did not hear back from us in 12-hours it was automatically approved. The turn around had to be fast, as we did not want our franchisees to miss a deadline or marketing opportunity and we know people wait until the last minute. Also we wanted sales and for them to make money as that is the goal i
Here are 7 tips to making this happen in your business:
1. Know Your Marketplace
One of the keys to retaining customers and customers is to understand what is happening in the external market with respect to competitors, products, services and pricing and then to adapt your own offering to ensure you continue to maintain your competitive edge.
The number of people today posting used car classifieds ads shows an upward spiral. Looking at the used car classifieds they write and guessing the amounts they spend to advertise their product (used car), one will naturally wonder how these people sell their car for a decent price. By closely following the ads, one can find more than 80% of the classified ads make one or more of the seven mistakes listed below.1. Not Describing the CarWhile writing used car classifieds, classic car classifieds or muscle car classifieds, a lot of people tend to miss out the exact model name and year of manufacture in the ad. Include such details in a positive manner and it doesn't take too many words.2. Not Leaving a Phone Number
The very same applies to retaining staff. By keeping an eye on the local ‘market for people’, you have better information to make decisions about how to retain your team.
So get into the habit of glancing at local papers, trade journals and job sites. Who is recruiting? What kind of people are they looking for? What type of skills does there seem to be a shortage of? What is happening to pay levels? What type of innovative benefits are other businesses offering?
2. Be Very Competitive With Your Pay
Whilst retaining good people is not simply about paying more than everyone else, you do need to be competitive. So ensure you know what is happening in the external market and that your pay levels reflect this.
But also ensure that they reflect what you are doing with your business internally. As an example, if you are charging premium rates for your services with an emphasis on offering a quality product with a high level of customer service, then you shou
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