As a business owner, employee turnover is one of the biggest issues you’re going to face. Many organizations spend thousands of dollars every year recruiting and replacing their employees. While a certain amount of turnover is unavoidable, that doesn’t mean you shouldn’t be taking steps to prevent it.
Performance reviews are starting to regain traction. Here at Dominion, we’ve heard from current customers and prospects alike that a well-constructed platform and methodology around performance reviews is a valuable thing for their business. But despite the best intentions, at the end of the day, the success of the performance review rests on the shoulders of the managers. Their participation and preparedness are the backbone of driving beneficial performance review meetings.
Did you know that 83% of employers have changed their benefits strategy within the last three years? At Dominion, we believe it’s never a bad time to reevaluate your processes. Worst case scenario, you reaffirm that you’re running your business as efficiently as possible. However, many times you’ll find a new software or product that will improve your processes and save you time and money in the long run. So when was the last time you reevaluated your benefits administration process?
Outsourcing payroll is a common practice in the modern business world. After all, there is no denying the time and money you can save by bringing in a third party software to assist with the intricacies of payroll. While processing payroll in-house is definitely a viable solution, whether it’s through manual bookkeeping or a variety of payroll apps, even small business owners are starting to see the benefits of outsourcing.
Job costing and management accounting work hand in hand when it comes to making important financial decisions for a business. In order to accurately predict the success of major business decisions, owners and CEOs rely on data-driven reports from job costing and management accounting.
Performance reviews are in an interesting spot in today’s professional culture. Some organizations have dismissed the practice all together, while others are raving about the successes of the 360-degree review.
If your organization conducts performance reviews you know they have the potential to contribute to the growth and longevity of both your employees and business. What you might not know is that performance review technology can increase the positive potential of the review process.
Vacation policies come with questions. Among the typical paid time off questions such as is it mandatory to offer vacation time, and how much should I offer, another common question is will I need to pay out any unused vacation time? Common practice and state law around paid time off, and vacation time specifically, vary from company to company and state to state. Let’s take a look at how Michigan handles the payout of unused vacation time.
When it comes down to it, there are many costs that are directly associated with absenteeism. Many reasons for employees being absent, such as poor weather or traffic conditions, may seem innocent and justified. However, they can still have a major impact on your bottom line, and as a business owner, it’s important to know the causes and solutions to absenteeism.
Working remotely has gained a lot of traction recently and the trend only appears to be increasing in popularity. But despite remote work’s popularity, some employers remain hesitant about their employees working outside the office. The reality is remote work bears out a number of advantages for employers. Let’s examine how remote work adds value to your company.
Some sort of payroll process is necessary for nearly any business, regardless of its industry. However, there are some industries that need more than just basic payroll software in order to better run their day-to-day processes. Chief among these is the manufacturing industry. Whether it’s assembly work, machine operation, packaging, shipping, or supervising, organizations in this industry need to have a payroll software that can handle the intricacies of running a manufacturing business.
Exit interviews can be uncomfortable. Some departing employees use the opportunity to vent years worth of pent up frustration. And while negative feedback is hard to listen to, if employees are willing to express how they feel about working for your organization, there might be nuggets of wisdom concealed in their frustration. If you’re willing to conduct exit interviews, it’s worth the time to consider a former employee’s feedback about their experience.
Keeping track of applicants for your organization is one of the most important aspects of managing a business, and the best way to do this is to use an Applicant Tracking System. An ATS will help you monitor certain analytics such as how long it takes, on average, to fill a vacant position and how often you’re hiring new employees throughout the year, thereby helping your business run smoother and more efficiently. Not convinced? Read on to see why you should be using at Applicant Tracking System for all your hiring needs.
There has been a new date set for EE0-1 Pay data reporting. The Equal Employment Opportunity Commission (EEOC) released a brief statement on its website stating employers would be required to report employee pay data by September 30th. Let’s take a look at the details of the immediate reinstatement of revised EE0-1.
Saying goodbye can be awkward, especially at work. You might be sad to see a great employee walk out the door for good, or you may be grateful to never have to see their face again. Regardless of the circumstance, conducting exit interviews can provide some important feedback. By treating these interviews with care, you’ll invest in the morale of your existing employees and the reputation of your organization.
By this point I’m sure you know a structured and personalized onboarding process greatly benefits your new hire and your business. But one type of employee can be overlooked in the onboarding process, and that is remote workers. If your company allows employees to work remotely, or hires remote workers, you can’t afford to leave them out of your onboarding process. Let’s examine a few tips to properly onboard remote employees.