As of April 16, small business relief funds offered through the Paycheck Protection Program (PPP) had been depleted.
On April 27, PPP officially reopened at 10:30am EDT. The program was refunded with another $310 billion available to small business owners. If you haven’t already, contact your bank or preferred lender! If you need more help and clarification on what PPP is, if you qualify and how to ensure your loan is forgiven, keep reading…
The $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law on Friday, March 27.
The legislation includes a number of business-boosting relief programs, the largest of which is the Small Business Association’s (SBA) Paycheck Protection Program or PPP.
As of Wednesday night (April 15), the SBA is reporting that 1,562,000 PPP applications have been approved, totaling over $329 billion.
The good news is that loan applications have officially been approved by the SBA, and money should be in the accounts of more than 1.5 million small business owners shortly.
One PPP loan tracker puts the total estimated loan disbursement figure at $16.4 billion as of Wednesday night.
If you’d like more on these loans and other relief available through the $2 trillion CARES Act, continue reading…
Your employees are one of the most important assets in your business. Whether you are in sales, construction, marketing or any field, the employees are the nexus between your company and the marketplace. In this hyper-connected and competitive world, you can’t afford to lose any good employees you have on board. And the replacement cost of your high-potential workers is too high. That’s why you need to keep a tight ship and keep your employees from quitting.
Here are 7 things you can easily incorporate to stop your best talent from walking out the door:
1. Provide Competitive Pay
In a survey of 2,000 people by Paychex, respondents said the main reason people leave their jobs is money (69 percent said that low salary did or would make them leave).
Even in the most satisfying work environment, if your employees can’t pay their bills every month, they are going to look for new career opportunities somewhere else. You need to be able to offer competitive pay to your employees. This will not only keep them from leaving but it will make your company more attractive when hiring new people.
Bear in mind, wages change all the time, you have to be up-to-date with any changes; otherwise your rivals may offer a little bit more money and steal your best employees.
2. Give Employees Regular Feedback
Another important factor in the decision to quit is a feeling that the employee is not valued. Your employees want (and need, as well) feedback that their employer cares about them as employees. People feel the need to be heard and want to know if they are doing a good job. You don’t need to overwhelm them with constant commentaries on their work, but every once in a while, you might want to tell someone they are doing a good job. This will make them feel appreciated and will create a good work environment.
If your employees never hear from you, they might feel like they do not belong in your company and will look someplace else where they might be appreciated. It might not seem like much, but good feedback goes a long way.
3. Set a Good Example and be Accountable
Nobody likes their boss, but everyone needs a leader. When you have people working for you, you need to take action and steer the team to their highest performance, like a leader. You don’t want to boss everybody around yelling orders, never doing any actual work. Even if it means rolling up your sleeves and going the extra mile, you need to set a good example. This is like an investment. If your employees see you working hard, that sets the tone. They will work harder. If it seems like you don’t care about the job, they will either slack off or look for a different place that cares about their business.
If you make a mistake, you need to be accountable. If you look for excuses, your employees will do the same when they make a mistake.
4. Be Consistent
This is incredibly important. Many supervisors think that all they have to do is hire people and pay them to work. The supervisor is available to the new hire for a week or two, and then withdraws completely. This is the worst strategy possible. A supervisor needs to be consistent with his work approach, even more than his employees. In the same way that you have to set a good example, you have to show you are consistent in your work and management style.
If you only show up half the time, don’t leave your office, or seem not to care, one day you are going to find some of your best talent will have left for a boss that shows he cares about their work.
5. Support Diversity
A diverse workplace is Integral to a strong, productive and creative workplace. If all your employees are the same, you will face problems that you won’t be able to overcome. You need different types of workers to create a dynamic workplace; otherwise, your company will feel monotonous and boring. You can also scare off a candidate if everyone currently employed is the same. And that one different person might be the best employee; you wouldn’t want to lose that person.
6. Offer Ongoing Learning Opportunities
A growing trend that helps retain employees and improve the quality of work is to offer development opportunities. Several educational institutions are offering their services to companies that want their employees to grow career-wise. If your company allows attending seminars or financially helps their employees to go to business school, this will give your employees an extra incentive to stay in their job and you will eventually reap the rewards with an improved workforce!
If you are not offering training to your employees, you are going to be behind competition in this fast-changing marketplace. Nowadays, not offering any learning opportunities inside or outside of the workplace is like having non-competitive pay. People expect to have them or will go to where employers offer it.
7. Don’t let Toxic Workers Poison Talented Employees
This is crucial. Even if you offer the best wages in the market, pay for your employees’ tuition, and have the best leader/boss around you can’t let toxic workers impact your company. They will make your best employees leave out of pure contempt. It might not seem like a problem at first, but eventually, people get tired of the same person’s harmful behavior. If you don’t fire noxious individuals because you are afraid of the economic cost, you eventually will face bigger problems as your top employees start to leave.
You need to keep your employees happy and productive. To do so, you need to offer good wages, career opportunities, and a diverse workplace. You need to be a good leader and avoid lethal people inside the work environment. If you apply these seven concepts, you will have few problems with a discontented workforce heading for the door.
If your high performers are quitting, let Flexicrew help find strong replacements quickly. Don’t wait! Contact one of our professional recruiters today!
Employee turnover or attrition is one of the major challenges for businesses nowadays. While involuntary turnover is usually not a cause of much concern; it is the voluntary attrition that requires close monitoring. Human Resource professionals spend considerable efforts into analyzing the causes of attrition and devising methods to lower employee turnover. Following are some of the predictors of employee turnover trends and what can be done to combat them to lower employee turnover:
Job Satisfaction Levels
This is perhaps the most common reason people leave their jobs. They often have certain expectations and if things do not work accordingly, employees feel their individual needs are not being met. As a result, employees become disengaged or “checked out.”
Some ways in which this can be handled are-
Ensuring proper role clarity. Employees need to understand their job descriptions properly.
Role alignment with individual career aspirations.
Avoiding any kind of role conflict if possible.
Relationship with Manager
There is a reason why it is said that people do not leave jobs, they leave their managers. If there is a lack of supervisory satisfaction, then it can be a predictor of higher employee turnover.
To handle this, some of the steps that can be taken are as follows-
Managers should be trained on how to handle teams.
‘Skip-level’ meetings are a great way to ensure effective communication channels between leader and subordinates.
If an employee raises an issue with their supervisor, proper steps should be taken by the HR department to address the issue. This will help to lower employee turnover.
The teams that employees work in become their families at the workplace. And if there is no team bonding, employees might lose motivation to come to work. An effective way to ensure better team dynamics is through employee engagement activities and team-building exercises. Events such as company picnics or team parties are great places where people can connect and build their networks. This, in turn, creates an environment which motivates people in their work, thus leading to lower employee turnover.
Misalignment with Role
This happens when the hiring is not done carefully enough, resulting in a skill set mismatch. In such a case, an employee will feel out of place in their role and decide to leave. Companies can lose good workers due to this.
To prevent this from happening, care should be taken during the hiring process as mentioned below-
Recruiters need to ensure that they choose candidates with the required skills for the job.
Proper learning and development sessions also help to lower employee turnover in the future.
These are the predictors which usually indicate employee’s engagement levels and hence give an idea of whether they might leave or not. Some of these behavioral indicators are absenteeism, performance, punctuality, etc.
If noted, these can be addressed in the following manner to ensure lower employee turnover-
If absenteeism or lateness is high, then the manager or HR can have a one-on-one discussion to get to the root cause of the problem. Often, these problems can be solved with a little bit of flexibility.
Should performance become an issue then the employee must receive proper feedback and the necessary support to improve.
Employee attrition can become a big problem if not dealt with in a timely manner. At the same time, there are so many steps that can be taken to lower employee turnover. Businesses must care for their employees to become successful; after all, employees are perhaps the biggest asset they have.
If your firm experiences high employee turnover, contact Flexicrew to help improve your recruitment efforts.
There are many reasons why an employee quits. It can be because they feel unappreciated or less valued by their employers. It can also be because they are no longer happy with their jobs or their compensation package. Whatever the reason, it is a fact that a business can suffer from financial losses in case one of your star employees decided to quit. It can also hurt your company operations if not addressed immediately.
Here are 5 Warning Signs that an Employee is Thinking of Quitting:
1. Less Interest In Satisfying Their Manager
If you noticed that one of your employees seems to not care about their appearance anymore, it can be a sign that he is about to quit. Normally, motivated employees dress for success all the time. It is to impress their managers and also to feel energized while doing their job. This type of employee cares about what his superior will think about his work. He will do anything to have everything perfect before submitting his output. But when it changes from excellent to mediocre… that’s a warning.
2. Work Performance has Decreased
Most of the top performers try to exceed expectations for them. They tend to even compete with themselves since they are already the best. But as time goes by, you may notice that their performance is no longer one of the best. When the employees work performance suddenly goes downhill, there is a problem for sure. This is what happens if the motivation and drive to perform well is gone. The employee will no longer do their best, especially if they don’t get appreciated for doing so.
3. Less Enthusiasm for the Company’s Mission
Every company has its mission. This is to guide every employee on how they should act and perform their tasks. If you noticed that an employee does not even know the gist of the company’s mission, then that’s a goner. Employees who plan to stay longer to the company will learn what the company mission is. They will also make it their guide as they go to work every day. But if someone does not even show interest, then it means that he is just passing by.
4. They Communicate Dissatisfaction with their Job More Often
New employees seem to find their new job to be a perfect fit for them. It can change as time goes by though. More tenured employees may start finding a lot of unsatisfying things about their workplace, colleagues and just about everything. These people will complain even at the start of their shifts. They often can be seen chatting with other employees discussing how bad their job is. They start to be vocal about it to anyone which can affect other employees negatively as well.
5. They Show a Negative Change in Attitude
Employees who are on the verge of quitting seem to be more impatient than others. They may even bad mouth the company even to their company’s clients or customers. It can result in a bad impact for the company. From being the sweetest person around, they may suddenly become hostile to the management. Even if there are no changes from how the company runs, they will still find something wrong. They may also try to avoid handling new projects as they are planning to leave anyway.
What to do about it?
It may actually vary from one employee to another. But there are still universal actions you can take to resolve this problem.
Talk to the Person Involved
Since you have already noticed the changes when it comes to the person’s performance, it is best to talk to them. Sometimes a pep talk may help and make the individual feel better.
Provide Better Options
If it happens to be one of your top performers, it can make sense to discuss better compensation for them. Since the person did well in the past, formulate a better incentive package. It can become a distraction if they feel they are not being rewarded for a job well done anyway.
Approach the Issue Professionally
Whatever you do or offer, if the person has already decided to leave, there’s essentially nothing else you can do to change their minds.
When an employee is thinking about exploring other options, you may notice it right away. It is all up to you if you still want to keep that person on your team or just move on to your next top performer.
In today’s challenging labor market, employers feel more need than ever to hold onto talent. Why, however, is this such a major challenge? Largely thanks to the worldview of millennials, who expect things fast, search for experiences, and are simply not willing to stay in a job long enough to wait for the benefits. Bad news is, with generation Z soon to come into their prime, the situation isn’t bound to fix itself any time soon, because if you thought millennials were an HR-handful, the follow-up is even more so.
The solution is – invest in retaining your employees.
5 Steps to Retaining Employees:
1. Ensure Supervisors can Connect with Workers
What we mean by connection isn’t painful, theory-X monitoring and control. That would be bound to drive the young workers out the door from day one. Without a doubt, it’s a supervisor’s role to keep the finger on the pulse, but there is more than one way to approach it. Entrusting responsibility, avoiding micromanagement and being on the lookout for ‘teacher’s pet’ scenarios typically ensures that the sense of hierarchical authority doesn’t switch from respect into contempt or envy.
2. Set Up Workers for Success
Easier said than done? Truly, theories are filled with approaches that use fear as the predominant push factor, while the mindset of success gets ignored. Is it right? Not quite so. Although workers do tend to respond to fear well, and at times a crisis may be exactly what one needs, the dominating company environment should be that of positivity, success, brighter future on the horizon, and belief in each one of the employees. Flexicrew believes you can do this and is at times much more effective. We hope you will get yourself together for this one… It’s all about attitude.
3. Competitive Pay and Benefits
Almost every employee feels they are underpaid. This is hardly a feeling that goes away, simply because belief in monetary self-worth is rooted in each one of us living in the modern world. Certainly, you should aim to recognize achievement and hard work, and make sure to reward it accordingly, but what if you are a smaller business and resources are running on the lower side? You would like to reward your employees, but financials are so tight you are worried you can’t afford to do it left and right. Luckily, it’s not all workers look for. Medical insurance, a gym discount, free pizza on Thursdays, ability to occasionally work from home for young mothers, a ping pong table in the back of the office for employees to enjoy during break times – you would be surprised what a difference a relatively inexpensive benefit can make for employee retention percentage increase.
4. Employee and Work Team Recognition
Everyone talks about team work, and make no mistake, a good team is the absolute key to the success of your business. Sometimes it may, however, seem difficult to encourage it to go the way you want it to. One of the main issues is – in many workplaces, an ego of an employee still stands above the success of a team as a whole. This is human nature. If an employee isn’t feeling his skills are recognized, he may free-ride team tasks, and be reluctant to contribute as much as he could have. How do we deal with this? We uncover personal motivation. For some it’s a bonus, for another – public recognition (studies have proven that this particular procedure resulted in a better employee job satisfaction percentage than a higher compensation). And for someone else – it’s a simple pat on the shoulder and a ‘good job’ aimed his way.
5. Offer Workers Means to Provide Input and Feedback
Last but not least, each one of us wants to be heard. Having a voice is crucial for a healthy job environment, so make it happen today. Suggestion boxes, anonymous supervisor evaluations, monthly meetings with the question on the agenda: “What should we do better?” The best suggestion which ends up implemented can even be rewarded! At the end of the day, no matter if you are a business owner, a manager or an HR specialist, it’s all about asking yourself which environment would an employee happily be in X hours per day / Y days a week for at least 2 years.
And of course, start taking these baby steps today.
For more advice on retaining employees, give Flexicrew a call 866-720-FLEX (3539) or connect with one of our branches.
Thanksgiving is a time we give thanks for family and friends and it’s equally important to show employee appreciation. Although you should express gratitude to your staff all year, Thanksgiving is a perfect time to boost your attempts to show them how much you are grateful their contributions.
And, as one of the Southeast’s top staffing agencies, Flexicrew Staffing knows that saying ‘thank you’ is much more than just a feel-good exercise. It can make a measurable impact on productivity, worker engagement and profits. Also, the way you show employee appreciation is frequently the way they will treat your customers.
Equally, It’s important to define how employees want to be recognized, given their work environments and their job roles.
6 Ways to Show Employee Appreciation at Thanksgiving
To help you get started, here are six ways to show employee appreciation:
1. You’ve got to express your thanks
Each member of your team wants to know they are appreciated and that there is meaning and purpose to what they do. And a simple ‘thank you’ for efforts or contributions or even going the extra mile is the easiest, fastest and least costly way to show employees you care and notice their contributions. So get into the habit of saying ‘thank you.’ When was the last time you thanked an employee for a job well done? And realize that recognition is best when it is specific and timely.
Another good way to show employee appreciation is in writing. A simple way say ‘thanks’ is to jot a handwritten note. Just be specific with your employee and add at least one mention of a major strong point, behavior or completed assignment that you really appreciated and why.
2. Shine light on top performers
Send out an email to your entire staff recognizing certain employees for their excellent performance. You can promote their performance, too, in your company newsletter to customers. Don’t hide their success under a bushel basket.
3. Casual conversations
Schedule a casual meeting with each employee to talk more about performance. But don’t simply talk about your goals and expectations.
Keep it low key. Attempt to get to know them better. Ask about their career hopes and aspirations and how you can help them achieve more. Find out how they think things are going on the job and find out what you can do to give them more support.
4. Describe opportunities for career or job growth
Show your employees how much you trust and respect them by offering growth opportunities. By expanding access to opportunity, not only will you enhance their skills, but their loyalty as well. Whether you recommend a stretch assignment, you can enhance their personal growth while also rewarding employees.
5. Employee appreciation day
By all means, if you want a formal event, plan an employee appreciation day once a month. Then you would highlight one or two staff members who have made an especially big impact that month. Not only will you recognize a top performer, but you’ll also stimulate others to work harder and expand their performance. Look at it as a meaningful way to foster employee engagement, thank employees for their hard work and build employee camaraderie.
6. Reward system
Develop a program where every time an employee meets a goal or completes a project, they can earn points towards prizes.
Start to Show Employee Appreciation
In short, don’t assume your staff knows how much you value and appreciate them. Your responsibility is to show it – and these six suggestions are useful ways to start. You will strengthen the emotional relationship between your organization and the people who deliver your results.
Do you need more help finding top performers for your team?