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Archive old records: Securely store or dispose of records in accordance with data retention policies and legal requirements. Confirming accurate payroll data and completing necessary forms ensures compliance with legal requirements, maintains financial precision, and cultivates trust between your organization and its employees.
Instead, strategic HR encompasses big-picture, wide-reaching activities that prepare the organization for the future, add long-term value and enable the business to thrive. In this blog, we’ll discuss the human capital needs that arise as companies grow and how HR is an important partner in addressing these needs. Higher turnover.
Seasonal workers also help organizations experience: Lower levels of burnout : A higher headcount during busy times means employees experience less stress and a more manageable workload. Reduced turnover : Happier employees generally lead to a lower resignation rate.
These efforts attract high-quality candidates and improve candidate engagement, reduce hiring time, and boost the organizations reputation as an employer of choice, ultimately leading to better retention and long-term workforce success.
Quick look: A whopping 96% of employees want the opportunity to enhance their skills, yet two-thirds of employers report confusion about how to create a proper learning and development program. Gallup has found that organizations with engaged employees experience: 81% less absenteeism. The right partner for professional development.
The speed at which the business landscape is evolving means employers must quickly adapt to remain competitive; gone are the days of researching emerging trends and bookmarking them for later. Trend 9: Strengthening employer branding A strong employer brand will be necessary to hire and keep top talent in 2024.
In response to rising employee turnover in the industry, many are adopting real estate HR strategies designed to support their workforce and improve retention. High turnover rates, however, impact industry leaders’ ability to maintain such valued teams. Quick look: Real estate companies need dream teams to sell dream homes.
Total rewards include compensation, benefits, well-being initiatives, and recognition, and help companies increase productivity, retention rates, and talent acquisition success. Additionally, organizations with recognition programs had 31% lower voluntary turnover rates.
Yet, it’s not all doom and gloom, as brokers and their clients have access to professionalemployerorganizations (PEOs) to help them reinvigorate employee participation and provide the support necessary to help them do their best work.
World Health Organization In this article, we’ll have a look at some of the important workplace stress statistics and the measures that we can take to mitigate stress. It also contributes to a high degree of absenteeism in an organization. Source: Gallup Job stress costs U.S.
The need has extended to finding a fully managed HR solution, complete with risk and compliance services , as well as recruiting and retention assistance, to help clients reach their growth goals. Therefore, it’s no surprise the exploration of working with a professionalemployerorganization (PEO) has spiked in popularity.
Below, explore what National Wellness Month is all about, the significance of promoting employee health and wellness, and discover how partnering with a professionalemployerorganization (PEO) can help your business achieve these goals. What is National Wellness Month?
A benefits specialist has the power to create a compelling benefits package that will attract and excite candidates—ultimately reducing the company’s costs associated with turnover. outsourcing some of their daily administrative burden to a professionalemployerorganization (PEO) could provide much-needed relief.
Rather than being left behind on the latest in HR compliance, trends, and operations, why not offer clients the benefit of a professionalemployerorganization (PEO) partner with its own premier solution? Though benefits largely contribute to employee engagement, purpose and professional development are also key drivers.
Here, we explore the many potential benefits of 401(k) plans for SMB employers, including improved employee retention rates, more successful recruiting, and decreased tax liability. And that makes sense, as 401(k) plans are the most common employer-sponsored defined contribution (DC) plan in the U.S.
While this news might startle employers, several alternatives to non-compete agreements can help them stay protected and simultaneously encourage employees’ career growth. Additionally, business leaders can boost retention by improving their benefits packages, workplace culture, internal advancement opportunities, and more.
In this blog, explore the HR trends that charter schools are adopting to empower their dedicated staff. While students organize their backpacks and supplies, charter schools are reviewing their approach to human resource responsibilities. Quick look: Each new school year comes with a new checklist of responsibilities.
When staff feel empowered, organizations can achieve increased productivity, reduced turnover, higher profits, and more. Below, explore what defines the employee experience, the advantages it brings to both teams and employers, and how partnering with a professionalemployerorganization (PEO) can improve it.
Research has shown a lack of attention to the matter results in a lack of productivity and performance and an increase in burnout and turnover. With the help of a professionalemployerorganization (PEO), brokers and their clients can find solutions which speak to their employees’ specific needs.
Companies that prioritize ethical practices and community involvement often see stronger brand loyalty, enhanced talent attraction and retention, and better bottom lines. Increased customer retention : Many people want to feel like theyre supporting a business that helps, not hinders, the world.
ProfessionalEmployerOrganizations (PEOs) help businesses manage essential HR tasks like payroll, employee benefits, and compliance. PEOs act as co-employers, sharing employment responsibilities and ensuring businesses stay compliant with labor laws and tax regulations.
And leaders of growing organizations are in a unique position to face these hurdles. In this blog we’ll cover: What are the challenges of midsize businesses? One solution is a professionalemployerorganization (PEO) , an HR outsourcing option that performs the most comprehensive set of HR functions.
The National Association of ProfessionalEmployerOrganizations (NAPEO) has historically reported the positive impact PEOs have on small- and medium-sized business (SMB) growth relative to other small businesses working without a PEO. Some employees even favor a robust benefits plan over an increase in salary.
Quick look: Over half of workers wish their employers surveyed them more often, and the data these surveys provide can allow business leaders to boost employee retention, morale, and productivity. And employees want to be heard – 58% of them say they wish their organizations surveyed them more often. Lower absenteeism.
It can improve recruiting and retention efforts across all demographics, help potentially lower an organization’s tax liability, and increase productivity and engagement. Additionally, turnover can lead to decreased productivity for the duration of the recruiting period and a possible decline in employee morale.
Here, explore the different types of internal recruitment, the business benefits of hiring from within, tips on developing an internal talent pipeline, and how a professionalemployerorganization (PEO) can help busy small businesses do it all. An organization’s most important asset is its employees.
Quick look: A strong corporate culture is tied to improved market performance, reduced turnover, enhanced innovation, and more. However, doing so takes time and resources that some organizations may not have to spare. That’s where a professionalemployerorganization (PEO) can help.
In this blog, explore the HR trends that charter schools are adopting to empower their dedicated staff. While students organize their backpacks and supplies, charter schools are reviewing their approach to human resource responsibilities. Quick look: Each new school year comes with a new checklist of responsibilities.
Increased demand for specialized skills, evolving work preferences, and a focus on culture have fueled this newfound independence and made employees more selective when choosing their employers. These awards signal that an organization goes beyond providing just a paycheck and actively invests in creating a fulfilling work environment.
Therefore, in order to protect their investments, it’s wise for companies to engage in strategic retention efforts. Because when job satisfaction is low, retention rates usually follow, and Gallup reports the cost of replacing an employee can equal as much as one-half to two times the employee’s salary.
Quick look: The National Association of ProfessionalEmployerOrganizations (NAPEO) recently released a market research survey illustrating the substantial rise in firms partnering with PEOs. Conceptually, professionalemployerorganizations (PEOs) have been around for decades.
In this blog – the second part of our employee pulse survey series – we will explore how to harness survey data to create beneficial and meaningful change. When properly executed, they can provide useful insights into how workers are feeling about their roles and the organization as a whole.
Here we will discuss National Wellness Month, the importance of promoting employee health and wellness, and how partnering with a professionalemployerorganization (PEO) can help employers achieve these goals. What is National Wellness Month? The importance of employee wellness. Improve employee morale and loyalty.
From turnover rate to revenue per employee, let’s explore the 14 most critical HR metrics for today’s SMBs. Over the past several years, data-driven human resources (HR) has become essential to maximizing a company’s HR function and uncovering valuable information about an organization and its workforce. Turnover rate.
Quick look: Partnering with a professionalemployerorganization (PEO) has been an increasingly popular business strategy over the past decade. Reports show the number of employers using PEOs has grown nearly 40% since 2008, and Guardian’s 11 th Annual Workplace Benefits Study shares insights into why.
In this blog, brush up on your knowledge of the latest HSA guidelines as well as how these accounts can better a client’s business and become an integral part of their DEI plan. Turnover is costly; it can cost one-half to two times an employee’s salary to replace them. Lean on your network to make a difference.
As a broker-friendly professionalemployerorganization (PEO) , ExtensisHR prioritizes informing its broker partners about the latest market developments. Honing employer branding In 2024, a strong employer brand will continue to help clients stand out in a crowded labor market.
Brokers who partner with professionalemployerorganization (PEO) experts can help SMB leaders create and implement cost-effective, long-term strategies by applying employee benefit services tailored to fit each company’s specific needs. Uncover hidden retention costs. The experts at ExtensisHR are ready to chat.
Quick look: While professionalemployerorganizations (PEOs) are known for services like benefits and payroll, they can provide so much more. Employee retention and performance management. Applauding staff who are doing well – and aiding those who are struggling – can improve employee retention. Employee surveys.
In response, companies have started to introduce and/or improve women-specific benefits to coax them back into the workforce as part of their retention strategies. Yet, the expansion of such benefits serves as an all-around recruiting and retention advantage.
Here, dive into the many potential benefits of 401(k) plans for SMB employers, including improved employee retention rates, more successful recruiting, and decreased tax liability. And that makes sense, as 401(k) plans are the most common employer-sponsored defined contribution (DC) plan in the U.S. Boost employee retention.
To better understand modern workforce demands, here’s an overview of other key findings from the report and how working with a professionalemployerorganization (PEO) partner can help employers respond effectively. 80% of HR professionals cited labor shortages as a top concern in 2022.
Therefore, professionalemployerorganization (PEO) brokers are being called upon to expand options for small- and medium-sized businesses (SMBs) in new and customized ways. A tuition reimbursement program highlights the importance of professional development, and in return, strengthens employees’ skills and knowledge.
While strategies, technologies, and products play vital roles in achieving success, leadership coaching is an often-overlooked aspect that can significantly impact employee engagement, profitability, and retention rates. In contrast, inadequate management techniques can be costly. An astounding 84% of U.S.
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