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Tag: Strategic Planning

How does the Employee Turnover Rate Effect the Bottom-line?

Turnover rate

If your employee turnover rate is high, then your bottom-line will be significantly affected. Unexpected resignations cost between 100% & 300% of the person’s salary to replace. The costs that feed in to these percentages include recruitment costs, lost knowledge and productivity, down time to hire and train new hires and so on. What is

What is pay for performance, and does it work?

Pay for performance

Pay for performance is extra pay the employee receives when certain work goals, targets, piece rate items, or key performance measures are achieved. It is used as a motivational tool. For example: Increase revenue by 10% by end of financial year to receive $5,000 Pack 12 bottles of wine per box to receive a 10

Employee Assistance

employee assistance

Have you heard of Employee Assistance?  It is a great tool for managers, and comes in handy when an employee tells you something that crosses the boundaries between work and personal problems  i.e. their personal financial problems, gambling issues, personal relationship problems…what do you do? You want to be compassionate, however set some boundaries about

Employee Engagement

According to a Towers Watson Study, employee engagement is the willingness to put additional discretionary effort into work (extra time, brainpower and energy), beyond what is considered ‘enough’. Engaged employees have the desire and commitment to do the best they can and make a measurable contribution to an organisation’s performance. In other words your employees

Which yields the best ROI: Fixing staff weaknesses or growing their strengths?

Motivation

  It has been drummed in to us from a young age that we “Grow the most in our area of weakness”. For example, when looking at a school report what do we naturally gravitate to? The lower scores, this is often where the most energy is focused for development. Research by the Gallup Organisation