Turnover is a fact of life in the business world. Employees come and go, and while many companies focus on maintaining an efficient and valuable onboarding process, offboarding tends to be overlooked, leaving supervisors and staff members struggling to fill knowledge gaps. When someone leaves an organization, there are usually a lot of loose ends to tie up, and without proper processes in place, both workflow and overall morale can suffer.
Employees, including those of your HR team, are more than mere resources. They are valuable capital investments into your company's future success. Shifts, upheavals and disturbances in the economic landscape challenge small and medium-sized businesses (SMBs) to either evolve or lose competitive strength. As the impact of globalization and ever growing government regulations seek to chip away at the status quo, it pays to reorganize your HR department. By upgrading to a human capital management (HCM) system, you can streamline the employee engagement lifecycle from beginning to end. With a HCM system, your company can eliminate redundant processes and confusion. It can even improve employee retention.
If you’re a small company, your Human Resource Department may have a difficult time creating an apples-to-apples comparison of employee benefits offerings. The problem, of course, is the increasing complexity of benefits structures along with the difficulty in finding accurate competitor information. However, failing to benchmark is dangerous because you simply won’t know where you stand in relation to competing businesses in the marketplace.
Excessive employee absences affects productivity and morale. According to research, absenteeism has reached its highest level since 1999. If your onboarding process isn't crystal clear about expectations regarding employee absences, it may be difficult to reverse the process down the line. Fortunately, you can take practical steps to manage the problem.
Not surprisingly, the highest earners spend the most on healthcare- about $5,074 per patient, per year. The lowest earners, however, aren't far behind, spending about $4,835 per patient annually. These statistics came to light in a 2014 study of employee healthcare spending and utilization by income level. Researchers measured trends among 42,936 employees of four-self-insured employers enrolled in private health coverage. High-income workers were those earning $70,000 or more, while low-wage earners' yearly incomes totaled $24,000 or less.
Since BeyondPay opened its newest office in Philadelphia this past November, the team has been happily making themselves a part of their new community. The new office, located in the WeWork’s Northern Liberties office shared space, has an industrial design, large open floorplan and beer on tap. The space is obviously made for hosting, so BeyondPay wanted put on event with a good cause intended for their new neighbors. On the evening of March 23, 2017 from 6:00 to 9:00 pm, BeyondPay is welcoming all non-profits in the Greater Philadelphia area for an evening of fun at its Grown-Up Game Night: A Non-Profit Networking Event, as a way to give a much deserved night out to those who are dedicating their careers to better the community.
Organizations across the United States are once again experiencing the anxiety over the New Over-Time regulation that was to be effective January 1, 2017. However, in December a court blocked the regulation from taking effect and in January, when President Trump took office, froze the regulation citing further review.
Since labor costs usually comprise the lion's share of business expenses, the importance of matching productivity to those expenditures is crucial. Effective time and labor management should tighten up the cost of doing business while losing no value in the process. What has become evident to HR managers within the last decade is that planning, scheduling, utilizing and measuring your labor by manual processes no longer ensures the highest return on money spent. For businesses of 25 or more employees, competing in a lean marketplace against the tide of ever-increasing regulatory burdens, new HR methods must come into play if your business is to improve. What are some of the key benefits of an effective time and labor management system?
A new year is upon us yet again, which can only mean one thing: tax season is right around the corner. As you and your employees rush to get your documents in order to help make the filing process as easy as possible, it's important for HR leaders to understand that there are certain steps they can also be taking at work to accomplish much the same goal. Whether you're looking for new opportunities to help employees or just want to make sure you're aware of any changes going into 2017, HR leaders and other human resources employees should always keep a few key things in mind.
Your Human Resource Department is an extremely vital part of your organization. This is the cog in the machine that governs your most valuable asset - your talent. Make no mistake, your customers are important. But great employees are the reason your customers are happy and the driving force behind your success or failure. And like any great team, it's not one rock start player doing all the work. A great organization has a lot of employees who work well together. HR management has the job is to understand the players and find ways to step in to create the environment where each individual can thrive, because that's where a cohesive team excels.