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Actual for You - Is Turnover Back in Vogue? One Trend to Pay Attention to in 2005
Today’s packaging industry offers multitudes of products designed to help you run a more efficient, profitable business. However, the variety of packaging choices can often prove overwhelming to someone who does not specialize in the industry.One of the most innovative products available today is plastic corrugated, also known as corrugated plastic, which is a durable material designed to replace the conventional paper, or cardboard, corrugated products that currently dominate the distribution and manufacturing industries. Corrugated pl
3. Review the Performance Evaluation Process – What is the basis for making personnel decisions, including pay increases, promotions and transfers, terminations, assessing training needs, identif
We just can’t live without! But can we live with what we have? With water quality at an all time low – the needs are great for a simple, effective solution for improved drinking water. With a general increase in awareness of health requirements and an immense demand for simple answers – the providers of this solution are set to become the next millionaires.Prick up your ears because ‘The Wellness Revolution’ is here and, by all predictions, is set to become the next trillion dollar industry. You can see it everywhere, emergi
Many companies have taken credit for the lower level of voluntary turnover that they have enjoyed during the last few years. Although some improvements in turnover are based on positive actions that companies have taken, others appear to be strictly related to the fear of employees to look for other jobs when our economy is limping along. We believe that the old adage, “the devil I know is better than the devil I don’t know”, is a major influence in why employees have stayed where they are for the time being.
If the surveys are a realistic indication of what we can expect, the question arises: what should companies do now to thwart a big increase in turnover of trained employees seeking better opportunities? Our experience has shown that there are five (5) key steps that a company can take to generate positive results. These steps are:
1. Clarify the Compensation Philosophy – What is the labor market that the company needs to compete against for qualified employees? What is the level that the company should pay against that market? What is the best mix of pay elements for their employees? Is the pay program consistent with its Business Plan and Marketing Strategy? Addressing these questions will help the company establish a baseline against which to benchmark pay and pay practices, and establishes the company’s commitment to its compensation programs.
2. Review the Procedures for Determining Pay – What are increases based on? How will they reward varying contributions of employees doing the same job, but at different levels of performance? How equitable is the system, and how consistently is it applied? Ensuring that pay practices are equitable builds trust among employees, provides a measure of comfort with the system, and allows employees to determine how their pay is impacted by their performance.
3. Review the Performance Evaluation Process – What is the basis for making personnel decisions, including pay increases, promotions and transfers, terminations, assessing training needs, identify
Bad things can happen to your business -- fires, floods, tornadoes and hurricanes, are just a few of the many disasters that can wipe out your cleaning business in just a matter of minutes. You have spent years building up a successful cleaning business; don't let failure to plan for the worst ruin it. Although no one wants to think about it, planning ahead can keep your business from going under after a tragic event. Many businesses never recover from misfortune: the Small Business Administration (SBA) reported that in 2006 up to 25 percent
Many companies have taken credit for the lower level of voluntary turnover that they have enjoyed during the last few years. Although some improvements in turnover are based on positive actions that companies have taken, others appear to be strictly related to the fear of employees to look for other jobs when our economy is limping along. We believe that the old adage, “the devil I know is better than the devil I don’t know”, is a major influence in why employees have stayed where they are for the time being.
If the surveys are a realistic indication of what we can expect, the question arises: what should companies do now to thwart a big increase in turnover of trained employees seeking better opportunities? Our experience has shown that there are five (5) key steps that a company can take to generate positive results. These steps are:
1. Clarify the Compensation Philosophy – What is the labor market that the company needs to compete against for qualified employees? What is the level that the company should pay against that market? What is the best mix of pay elements for their employees? Is the pay program consistent with its Business Plan and Marketing Strategy? Addressing these questions will help the company establish a baseline against which to benchmark pay and pay practices, and establishes the company’s commitment to its compensation programs.
2. Review the Procedures for Determining Pay – What are increases based on? How will they reward varying contributions of employees doing the same job, but at different levels of performance? How equitable is the system, and how consistently is it applied? Ensuring that pay practices are equitable builds trust among employees, provides a measure of comfort with the system, and allows employees to determine how their pay is impacted by their performance.
3. Review the Performance Evaluation Process – What is the basis for making personnel decisions, including pay increases, promotions and transfers, terminations, assessing training needs, identif
Imagine your blood racing as the previously closed doors of the executive suites magically open … because you know the secret words.The words that establish trust, build your credibility as the authority, and compel the decision maker to meet with you and only you.The words that get you face-to-face, high-level meetings, trim weeks off of the sales cycle and add tens of thousands of dollars to the size of the contract. Words that repeatedly level the playing field and position you as equal to your executive-level prospects.
If the surveys are a realistic indication of what we can expect, the question arises: what should companies do now to thwart a big increase in turnover of trained employees seeking better opportunities? Our experience has shown that there are five (5) key steps that a company can take to generate positive results. These steps are:
1. Clarify the Compensation Philosophy – What is the labor market that the company needs to compete against for qualified employees? What is the level that the company should pay against that market? What is the best mix of pay elements for their employees? Is the pay program consistent with its Business Plan and Marketing Strategy? Addressing these questions will help the company establish a baseline against which to benchmark pay and pay practices, and establishes the company’s commitment to its compensation programs.
2. Review the Procedures for Determining Pay – What are increases based on? How will they reward varying contributions of employees doing the same job, but at different levels of performance? How equitable is the system, and how consistently is it applied? Ensuring that pay practices are equitable builds trust among employees, provides a measure of comfort with the system, and allows employees to determine how their pay is impacted by their performance.
3. Review the Performance Evaluation Process – What is the basis for making personnel decisions, including pay increases, promotions and transfers, terminations, assessing training needs, identif
Movies make a great past time. Millions of people enjoy movies for their pure value as entertainment devices. But how many people know that movies can teach some of the greatest business lessons possible.Study the business lessons inside some of the most popular movies and you can quickly grow the prospects of your business.Movie Business Lesson #1Star Wars. One of the most important business lessons in Star Wars is the ability to succeed against overwhelming odds through team work. Faced with a galaxy controlling Empire,
2. Review the Procedures for Determining Pay – What are increases based on? How will they reward varying contributions of employees doing the same job, but at different levels of performance? How equitable is the system, and how consistently is it applied? Ensuring that pay practices are equitable builds trust among employees, provides a measure of comfort with the system, and allows employees to determine how their pay is impacted by their performance.
3. Review the Performance Evaluation Process – What is the basis for making personnel decisions, including pay increases, promotions and transfers, terminations, assessing training needs, identif
Had a good discussion with a few analysts (financial) and accounting on the question around differences between Restatement and Recertification of results - what are they, what is the difference etc.?1. Restatement: It will effectively rewite a company's books. Dr. Min Wu of New York Univ of Business has a great paper on Review of earnings restatement. Here are some highlights:a) Restatements typically occur when a company, often in consultation with its auditors or the SEC, determines that the company's financial statements cont
3. Review the Performance Evaluation Process – What is the basis for making personnel decisions, including pay increases, promotions and transfers, terminations, assessing training needs, identifying expectations and accountabilities, etc.? Having a consistent means by which personnel actions are administered provides for fair treatment among employees, and assists managers in applying policies and procedures consistently among their staff.
4. Identify the Top Contributors – What is being done to determine which employees are most valuable and whose loss would seriously harm the company’s ability to operate successfully? What is the company doing to insure that employees are happy, and stay? Employees are a company’s most valuable aspect. Ensuring that the best performers are recognized for the above-par contributions to the organizations will further motivate them to exceed their goals, and can encourage other employees to challenge themselves.
5. Evaluate the Communications Process – Is management able to communicate effectively with employees? Is communication trusted and able to relay appropriate information to employees? Has management communicated its commitment to its employees and to fostering a rewarding work environment? In many instances, the biggest problem is that employees don’t know where they stand in the eyes of management. In addition, they often don’t understand how the pay programs work, or what they need to do to move ahead. This lack of understanding leads to discontent, frustration, miscommunication, problems, and eventually to the feeling that the “grass is greener elsewhere”.
Addressing these issues doesn’t insure that turnover will not increase. But it should certainly provide a strong indication to employees that their organization cares and is taking the necessary actions to improve their working environment.
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