It’s important for businesses to consider the cost of employee turnover, because it impacts your bottom line. Many companies forget how much it actually costs when an employee leaves and that employee has to be replaced.
Sheila Birnbach, President & CEO of Birnbach Success Solutions, recently shared a turnover worksheet, during a Maryland Chamber seminar, to help members calculate the cost of a turnover.
Watch the video below to follow along with Birnbach as she outlined what to consider when calculating the cost of employee turnover. Here is a PDF of the sample she reviews in the video. Here is a blank copy you can use for your business.
For more information from Sheila Birnbach, visit click here or call (301) 530-6300.
When reviewing candidates for your organization, there are characteristics you should look for before you hire them, as well as characteristics that you, the employer, should project. Here are some insights from David Utts, CEO of Executive Skillworks:
What to look for in prospective employees?
Connection – When a candidate walks into an organization, they should be walking into something they care about. If you make the right fit, you’re going to have someone that will be with you for a long time.
Willingness to Learn – A candidate should want to learn more about your business to be successful at the job.
People Skills – A candidate should have the ability to relate to customers, colleagues and other people they engage with.
Attitude – Look for candidates with a positive attitude. This will benefit staff moral and make it more likely that they deal positively with stressful situations.
What prospective employees are looking for from your organization?
Engage – By understanding what your company is about and why you’re in business will help you engage more with your employees. Help the prospect understand the values of your organization.
Expectations – Set clear expectations and let the prospect know how they can make and immediate impact in your organization. Always give feedback and support your employees.
Caring – Genuinely caring about your employees. If you are not truly invested in your employees, you’re not showing leadership.
Professional Development – Make it clear that their growth is a priority for your organization. When employees grow, so does your company.
Whether you are a small business or a large business, it is important to have these characteristics within your organization. Not only does it build loyalty and values, but it also makes a great work environment. For more tips from David Utts, visit www.executiveskillworks.com or call (410) 381-9155.
Attracting and retaining top talent and building a strong team can be the difference between success and mediocrity. Join the Maryland Chamber’s Business Development Council for its next educational seminar to learn talent management essentials that will help take your company to the next level.
The event will be held from 8 a.m. to 10 a.m. on Wednesday, April 6, at the Hilton Baltimore BWI Airport.
Event registration is $30 for Maryland Chamber members and $50 for nonmembers. Register online or contact Gail Lemke at (410) 269-0642, (301) 261-2858 or glemke@mdchamber.org.
Earlier this year, the IRS announced a plan to audit 6,000 businesses over the next three years in regards to misclassification of independent contractors, which the federal government claims costs it billions of dollars in revenue each year. The Department of Labor’s proposed budget for 2011 includes $25 million to help it hit its audit goal.
The IRS isn’t forgiving of “honest mistakes.” Understanding labor laws is the duty of all employers, but getting the information and staying in compliance is not always an easy task. There’s simply too much to know.
That’s why the Maryland Chamber of Commerce is offering the 2011 Maryland HR Library, which includes two publications by our member attorneys at Shawe Rosenthal LLP. These manuals cover the entire employment law cycle from pre-hire to post-termination, including the difference between an independent contractor and an employee. Publications include the Maryland Human Resources Manual and Model Policies and Forms for Maryland Employers.
These timely resources also cover important topics such as:
Recruiting and hiring
Wages and hours
Discrimination
Recordkeeping and posting requirements
And many more!
In addition to the hard copies, you’ll also receive free digital copies of the manuals! This means you can search for answers without ever cracking a book and personalize and print policies and forms with a simple click of a button. Plus, you’ll stay current all year long with the FREE weekly Maryland e-newsletter HR Update!
Order before December 15 and you will receive both manuals for $126.40. That’s $66 off the regular price. Just provide the code MDNEWS11M. Orders received after December 15 will return to $192.
To place an order or for more information, visit our publisher’s website or call toll-free (866) 439-2227. Books will be shipped on December 15.
So far, our series of posts on the hiring process has covered writing good job descriptions, finding innovative ways to identify candidates, screening applicants and interviewing prospective employees. Now that you’ve chosen a final candidate and preparing to make an offer, it is important to consider conducting background screening and a drug test. HR Anew [...]
Interviewing a candidate is one of the most important steps in selecting a new employee. The encounter with the candidate can give you a sense of how they will conduct themselves in your workplace, and often it is apparent very quickly whether the candidate is the right fit for the position. If you’ve narrowed down [...]
Now that you’ve done your recruitment and posted your job ads, it’s time to start sorting through the applications you receive. Reports have said that due to the current job market, employers are flooded with resumes from potential applicants. Keeping this in mind, it is important to narrow your applicant pool to the top candidates, [...]
For small businesses, finding the right employee for a position can be a daunting task and present several challenges. Smaller firms may have difficulty gaining enough visibility to attract top talent and traditional recruiting methods, such as posting on job boards or classifieds, can often flood them with overwhelming amounts of applications, many from unqualified [...]
The preparation of a job description is just as important to your organization on a long-term basis as actually bringing someone new on board. Well-constructed job descriptions can serve as a reference for future hiring practices, salary determination, and performance evaluations. But most of all, they make sure the right person is chosen to fit [...]
Learn more about Maryland’s Hiring Incentive Rebate for Employers (H.I.R.E.) during a free webinar on Wednesday, May 26, from 2 p.m. to 2:30 p.m. This webinar, presented by Elisabeth Sachs from the Department of Labor, Licensing & Regulation, is designed for business owners and HR managers to learn how the new Job Creation & Recovery Tax [...]
Attracting and retaining top talent and building a strong team can be the difference between success and mediocrity. Join the Maryland Chamber’s Business Development Council for its next educational seminar to learn talent management essentials that will help take your company to the next level.
