Studies show that the problem isn’t bad workers as much as bad bosses, who aren’t just a nuisance — they’re expensive. They cost a company productivity and turnover. Yet for some reason they’re being hired again and again. So why are we so rotten at hiring leaders, and how can we change?
Whether or not your business is in retail products, you can make the most of this momentum to promote your company and offer special promotions to existing customers and leads — making your last quarter more profitable and less stressful.
You live a crowded life. We all do. You probably looked at your smartphone before you rolled out of bed. You immediately checked your email, Facebook, Twitter and Instagram. Maybe you glanced at your phone on your morning commute. Your job demands multitasking, so at work your computer has 25 open tabs — Outlook, Excel, Word, Powerpoint, and on and on and on. As you read this article, the odds are good that you’re also kind of doing something else.
Wages are still stagnant, yet employers have found something else to help attract and retain employees: health-care benefits. A good insurance plan has become a more vital tool than ever for hiring, according to a recent survey from the Society of Human Resources.
Community involvement is key to a smart marketing strategy. One of the best ways to make an impact with your business is to first make an impact in your community. Not only does your business generate valuable philanthropic karma points, but you will be more likely to distinguish yourself from competitors, boost customer loyalty and have a happier workplace.
Some families love being together, some enjoy short visits and others have a hard time just getting through Thanksgiving dinner. So how do families who have decided to go into business together make it work? Recently I had sat down with three families-turned-business-partners to find out.
It’s September, the nationally recognized time to get back to school and learn something new. Even if you graduated long ago, it’s still a great time to introduce new systems to improve your business. Whether you’re a brick and mortar, a solo entrepreneur, exclusively online or fall somewhere in the middle, documenting what you do and how you do it is more important than ever.
There’s an old saying about family businesses: Shirtsleeves to shirtsleeves in three generations. Grandpa hustles and creates the business,Dad takes the baton and then Junior goes down with the ship. According to the Family Firm Institute, just 30 percent of family businesses survive into their second generation, and only 10 percent make it to their third. Why do these firms fail?
I work for a small, established company, and we don’t have policies in place for employee reviews. Actually, we don’t really do reviews at all. I find this odd. Is there a reason a company wouldn’t ask for or provide formal feedback? If I wanted to put a procedure in place for the people I manage in my department, what would I need?
Have you ever walked into a semi-dried lake bed? You start out on firm sand, and little by little the ground gets softer and stickier and deeper until finally the mud pulls your boots straight off your feet. That’s the position of many companies battling today’s marketplace, particularly small-business owners set in their ways and family businesses unable to overcome Dad’s unwavering march into the ground.
Competing with big-league firms for employees is tough — average pay at small businesses runs about two-thirds that offered at other companies. Not keeping up with pay hikes elsewhere can create staff turnover, eating into morale and creating operational problems. Enter profit-sharing plans.
We are all born with preferences for introversion and extraversion. Some of us sit in the middle of the continuum (ambiverts), but people typically fall into one of these two categories. And you might be surprised by how the two different groups perceive one another.
Time, money and significance: These are the three desires that every entrepreneur strives for in a business. Unfortunately, most find themselves caught in the never-ending pursuit of money, squelching the essence of true business ownership and personal freedom. As a result, the enterprise never delivers time back for the things we enjoy doing or the opportunity to make a significant impact on the world around us.
While travel for business always sounds more exciting than it usually is, you still want the trip to be worthwhile. Whether you’re a seasoned business traveler or just an office escapee, making the most of your trips is not only good for the company but for you as well.
Among the counterintuitive gems economists have excavated in recent years is this curious insight: When the economy is humming along and unemployment is low, the U.S. death rate rises. Many in the field have tried to fathom why. And now, UC Davis Graduate School of Management interim dean Ann Huff Stevens and three of her colleagues think they know.
For eons, the construction and government sectors drove Sacramento’s economic engine. You either worked in one of these two areas or you knew someone who did. It was that simple. Remember 2005?
Large retail chains like Costco, Trader Joe’s, QuikTrip and Mercadona pay wages and benefits considered high for their industries. They also use four key operational strategies:
Some of social media’s best qualities are also the very elements that contribute to its complexity: It is immediate, constantly updated, flexible and inclusive. Connecting with audiences in real-time is great — so long as you have the ability to monitor and respond in real time.
Trust is often at the heart of what goes right and what goes wrong. Strong trust leads to constructive conflict while poor trust invites elephants into the room. When a company has a culture of trust, people keep their commitments. In its absence, team members become unreliable and productivity drops.