Social media use is so ingrained in our behavior that employers need policies to manage employees’ online behavior—both on the clock and off. Although businesses that prohibit social media risk more than irking affected tweeters, allowing employees unfettered access can lead to reduced efficiency and heightened risk of liability exposure. In crafting a social media policy, employers should aim for a fair and flexible policy that keeps employees happy and boosts productivity, as well.
Health care is expensive for businesses. Those who go through insurance companies must deal with rising premiums and growing uncertainty. And the ones that self-fund health benefits are only so insulated from increasing costs. In the search to buttress the bottom line, corporate wellness programs are doing a good job of improving worker health so that costs are eliminated before they occur.
One part of the Affordable Care Act (ACA) that has business owners shifting toward offering more voluntary benefits is the Cadillac Tax. Due to go into effect in 2018, this 40 percent levy on “high cost” health care plans was created to offset the costs of the ACA.
Managing employee turnover isn’t the most glamorous part of running a company. Preparing to open up a vacancy can be just as taxing as filling one. Having a strategy to conduct exit interviews can ensure a smooth and amicable transition for both company and employee.
Crafting an effective job description is vital for hiring the right people and managing them once hired.
You didn’t go into business to become a bookkeeper, a retirement plan administrator or a monitor for a government bureau. You have a vision, but too often it’s pushed aside when the tasks of administering your business takes precedence. These things need doing, of course, but business owners must take stock of hidden costs of HR before they’re forced off the path of success.
Businesses today are faced with a complex challenge: how to hire the right people while having the confidence that they will be able to adapt and succeed in an ever-evolving workplace. Business requires visionary leaders who can make tough decisions, empower employees and pivot quickly. To secure and develop these leaders, businesses currently invest millions of dollars of time and energy into leadership development, stabilizing their company’s future in an the marketplace.
One measure of a great company that is often overlooked in the business world is the ability to create and preserve an environment of work-life balance. Sharply contrasting this ideal, many employees are being paid for 40 hours’ worth of work on a weekly basis, yet a 2014 Gallup Study found that Americans work an average of 47 hours per week—and 40 percent of those polled stated they work 50 hours or more.
According to a report by Harvard Business Review (HBR) Analytic Services on The Impact of Employee Engagement on Performance, employee engagement has become a priority for senior managers. These managers report that staff who are highly engaged are usually highly innovative and productive, which increases the the bottom line and reduces the costs associated with sourcing and retaining the best minds in the business.
When employees or staff are out due to illness or injury, it can severely impact your business. The loss of productivity, need to hire a temporary replacement, and workers’ compensation or disability payments can take a toll on your bottom line and disrupt projects. A return to work policy can help mitigate these effects, allowing team members to get back to work more quickly, in a modified capacity. This can save you money, while also improving employee morale and satisfaction.
