A resignation letter from a top talent can be costly for a business. A 2017 report by the Employment Benefits News revealed that it could reach up to 33% of the person’s annual salary. The more senior the employee is, the more expensive it gets for the company.
The cost comes from many factors, including looking for replacements and eventually training them. During this period, one employee down means reduced productivity and efficiency for the entire team.
Although companies cannot keep anyone who pursues better opportunities, they can explore many options to decrease the likelihood. Here are three ways to hire and retain the best people:
1. Screen Employees Thoroughly
An underperforming, incompetent, and overall terrible employee is a liability for the company. It also demoralizes the entire team and reduces engagement and motivation. If you want to avoid having one, the screening process must already be thorough.
The HR department can consider the following ideas:
Spot the lies on the resume. Besides a smart interview technique, recruiters can work with a team that can perform back-door background checks.
Provide a personality test for applicants, such as the Adam Milo exam. The result will not be the only criterion for hiring, but it helps the business find the best fit among the candidates.
Use an applicant tracking system (ATS), which will immediately narrow down the choices by screening out candidates that didn’t meet the initial qualifications.
2. Improve Benefits
No doubt about it, salary matters to all employees. One reason employees lie on their resume is to have a shot at a higher pay grade someplace else. But talents these days also expect benefits. Many companies cannot provide what would truly count to them.
In a 2016 survey by HSRM, employees valued paid time off with a total satisfaction rating of 71%. In the Philippine setting, this translates to medical, vacation, maternity, and paternity leaves. Some businesses now offer a paid “holiday” on the employee’s birthday.
Next on the list is healthcare, which is understandable since medical care costs a lot of money. In the Philippines, a night in a private hospital can be worth over P2,000. A visit to a specialist might mean spending P500.
Other valuable benefits are:
Flexibility (e.g., ability to telecommute or work from home)
Pension or retirement plan
Family-friend benefits (e.g., scholarships or childcare)
Wellness program
3. Create a Conducive Work Environment
There are two ways to do it: design and reduction of workplace conflict. In a survey of 1,600 employees, over 55% of them valued air quality while half said they wanted a more comfortable light. Other factors essential to them are:
Water quality
Comfortable temperature
Connection to nature
Comfortable acoustics
Healthy food options
Tech offices of Google and Amazon became templates for other workplaces not only because they’re cool but also because they are employee-oriented. Google, for example, provides sleeping pods and cubicles, which are ideal for introvert workers. Amazon combined natural elements, with plants helping reduce stress levels.
Employers also need to reduce or avoid workplace conflict. Any tension can impact an employee’s mental well-being. As their stress increases, it can affect their performance and productivity. In a US survey, around 34% of employees take time off work because of burnout.
Amazing employees are the lifeblood of any business. While they will have the final say about their career, doing everything to keep them will be beneficial for the organization.
Property has long been a popular choice of investment. If you have decided that you would like to diversify or begin your investment portfolio by purchasing a property, there are a lot of decisions that need to be made. One of the key decisions is whether to invest in commercial or residential property. It can be a challenge to figure out which one is going to be right for you.
It is important to be aware of the key differences between investing in residential and commercial property. Of course, you will already be aware that the former means that your tenants are going to be living in the property you have purchased, while the latter is an investment in business premises. Read on to discover more about the key differences between both options in further detail.
Investing in residential property
With residential properties, you can expect a more stable investment. This is because residential tenants are going to be available irrespective of the economic climate. If the economy was to take a downturn, the same may not be said for business tenants. A lot of people also find residential leases much easier to understand. The process is a lot more straightforward, which is ideal for those looking to make their first property investment.
Commercial property investment
While commercial property investment can be lucrative, it comes with more risks. Not only do you have to consider the impact of the economy, but also you probably won’t get as much financial assistance in terms of bank loans. Most banks are willing to lend around 75% or more for the housing market, yet 60% or less for the commercial market. Plus, there are many clauses with regards to the contract, so you will need a good lawyer on your side to help you navigate your way through this. If you do decide to go down this route, you need to have enough cash reserves to handle the higher risks, as well as greater experience and knowledge.
In terms of tenants, it is fair to say that both commercial and residential properties can be exposed to bad tenants. While luck has a lot to do with it, there are now stringent procedures in place for screening tenants to make sure you do not fall foul of a bad lodger.
Hopefully, you are now aware of the key differences between commercial and residential property investment. No matter what route you go down, it is so important to make sure that you seek the right legal advice and that you also update your will as well. This is imperative otherwise probate disputes can easily arise between your family members.
So there you have it: an insight into the differences between investing in residential properties and commercial property investment. Both can be great opportunities to make more money, and so it is all about figuring out what is going to be right for you and your current financial situation.
Whether you’re a relatively new driver or someone that has experience on the road, trucks are probably the scariest vehicles you’ll encounter behind the wheel. Trucks are extremely heavy, they have limited vision and could easily crush your entire vehicle with you inside of it. It’s essential that you avoid colliding with trucks or getting into any accidents involving them, hence why it’s a good idea to learn about defensive driving.
But what exactly is defensive driving and how does it work?
Defensive driving is essentially a series of driving techniques that will help you avoid getting into accidents in the first place. It’s all about reading the flow of traffic, understanding your vehicle and looking out for different cars on the road instead of just yourself. Considering a truck weighs 20 to 30 times more than a regular car and has limited vision, you and the driver of the truck are equally responsible for avoiding an accident.
So in this post, we’re going to take a look at some helpful defensive driving tips that will help you avoid large vehicles so you can stay safe on the road.
1. When driving behind a truck, make sure you leave plenty of space
We’re taught to always leave plenty of space between you and the car you’re following. After all, nobody wants to risk damaging the car they invested in. However, when it comes to trucks, you should try to leave a bit more space because they’re much larger and slower vehicles.
2. Know the truck’s blind spots
If you can’t see the driver’s face in their side mirrors then they can’t see you unless it’s an advanced model with cameras all around it. Make sure you avoid the truck’s blindspots if you want to stay safe when driving near them.
3. If a truck is turning, be cautious
Trucks take forever to turn and they take up a lot of space on the road when they do. If you notice that a truck is turning, slow down, keep your eyes on it and make sure you leave plenty of space between you and the truck.
4. If you have to pass a truck, do it quickly
Tire blowouts aren’t exactly uncommon and if you’re beside a truck when that happens, it could fall onto your car and crush it. If you have to pass a truck, make sure you do it as quickly and safely as possible instead of lingering next to it.
5. Never drive distracted, especially around trucks
Distracted driving is a big problem on the road regardless if there are trucks around or not. However, when you’re around a truck and are on your phone or talking to your friends, there’s an even bigger chance that you might end up in a motoring accident that involves the truck. As a basic defensive driving technique, make sure you avoid any kind of distractions in the car.
The last thing we want is to end up in an accident on the road involving a truck, especially if we have friends and family members in the back. We hope that these tips have been helpful to you and wish you safe travels anytime you’re behind the wheel.
Not all of us are aware that our future will be here before we even know it. Sure we are all encouraged to live in the here and now, make the most of every moment, but we also have a duty to ensure that our future selves are going to be money savvy and prepared, for when life changes. After all, once the wages have gone, how will you fund the lifestyle you have grown accustomed to? There is a lot to think about to protect yourself as well, and while you have the chance, it is always a good idea to think about what’s in store. With that in mind, here are some of the things to think about.
One of the first things you could consider doing right now, if you haven’t already, is getting on the property ladder. Having a property is one of the biggest purchases and investments you will likely make in your life, but it is also one of the ones that can help you in the future. Property tends to increase in value, especially if you make improvements or even step up the ladder. The sooner you do it, the sooner your mortgage will be paid off. Your property can then provide you with money for your retirement. For example, you may sell it and downsize to free up equity. You might consider staying and doing something like equity release to enjoy some of them value from your home. It provides you with more options than you could know, so if you haven’t thought about getting on the property ladder start considering it sooner rather than later.
Having a will in place
It is also extremely important, even now, to consider having a will in place. Especially if you are already on the property ladder, have savings or even assets. This is so if something were to happen to you, the estate would be decided exactly how you want it to be. Websites like bopprelawfirm.com can help with this. It can really help friends and family in the process. It may sound unnecessary now, but time does move quickly and really none of us have any idea of what is actually around the corner when it comes to our lives.
Putting a little way each week now
Ever wondered if there was anything else you could do that was a little more practical and in your control? Saving little and often could be it. Some people consider things that they could do without for the week. It might be one take out coffee or choosing to take your own out instead. It might be that take out meal you have once a week or a vice like drinking or smoking. Using the money spent for these things and saving them each week won’t feel like you are missing a lot of money, in some terms it would have already been spent, but over the months and years these small amounts will really add up. It could even be put towards things like a holiday.
Let’s hope that this has given you some food for thought to help you take control of your future finances.
Mental health is a topic that deserves as much attention as possible. Regardless of who you are or what you do, you will likely be affected by mental health problems in some way or another. We already know the strong links between sports and your mental health, but regular people can be plagued by issues as well.
One of the biggest concerns is that it’s hard to solve issues with your mental health. More often than not, people turn to things that almost form a crutch of sorts. This means that their solution isn’t a proper solution at all. It just exists to almost distract yourself from the problem while you either make it worse or let it fester. Sadly, alcohol is one of the most common mental health crutches. There’s an ugly link between the two, and that’s what we’ll discuss today.
Why do people with mental health problems turn to alcohol?
We’ve all had a drink or two at some point in our lives. As such, we all know the effects that alcohol has on the body and brain. In essence, it is a drug that changes the way you feel and act. When you consume enough alcohol, you become elated and happier. You no longer care about your normal struggles – at least, not initially. As the effects wear off, you may experience a comedown of sorts.
Nevertheless, you can start to see why people turn to alcohol when they have mental health problems. It offers them a temporary release from their issues and lets them enjoy life without worrying about those nagging pains in the back of their mind.
What are the dangers of using alcohol as a mental health crutch?
Obviously, alcohol is not a prescribed medication that you can take to solve your problems. While it may offer temporary relief, the long-term effects are far more damaging. It’s an addictive substance, meaning the more you consume, the more your body starts to depend on it. Before you know it, you’re drinking every day to ward off the bad thoughts in your head. You drink without thinking about it, and you go about daily tasks while drunk. The next thing you know, you’re hurting other people because of this habit. You may end up in a DWI incident and find yourself in court with a criminal defense lawyer trying to keep you out of jail. Put simply, using alcohol as a solution to your problems can end up ruining your life forever.
Furthermore, there are very strong links between alcoholism and mental health. Effectively, people who develop a dependency on alcohol will end up with more mental health issues. So, it’s not so much a solution as an accelerant of your existing problems! This leads you in a nasty spiral where you drink to escape your problems but end up compounding them and making them even worse.
In conclusion, there’s a very ugly link between alcohol and your mental health. If you suffer from any issues, then see a medical professional or talk to your friends/family. Don’t turn to alcohol or drugs to try and escape from reality. It may feel like you get some relief, but this can quickly push your life downhill.
Recent Comments