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Digg it UP - Employee Retention or Employee Turnover - You Decide!
Recently a group of franchise attorneys had come across a purported violation of the New York franchise rules and regulations when an unregistered franchisor had delivered a Uniform Franchise Offering Circular or UFOC to a New York resident, which was not in compliance with FTC rules and regulations or the State of New York.The attorneys and decided that perhaps they should turn in the franchisor who made the mistake. Well I have a problem with all this. Why not simplify the process, educate all the new entrants and remove the barriers to entry? No we cannot do that, what would the Lawyers have to do? All this over regulation was created by lawyers, but now we can study it for a law journal?Why not have the attorneys step away from the flickering flame's cave wall and realize that franchising is about the market place not about the lawyers. Lawyers stifle franchising and cause lost opportunities to make money solving problems and supplying the needs and desires of customers. And that is how I see things.We should not allow franchise attorneys to become the police, the jury and still hold themselves out to be above the law after they have hijacked the franchise laws of our nation. It is unfortunate that attorneys continually elevate themselves and promote themselves to greater and
They then "add" the voluntary gap plan to the "front end" of their benefit plan to cover most of the new "exposure" to the employee. This plan can cover most of the expenses that would have been covered by the "old" major medical plan, up to the new deductible. The result: The TOTAL premium for both plans COMBINED can cost an employer from 10% to 20% LESS THAN THEIR PREVIOUS PREMIUM! Lower premiums—with no significant reduction in benefits! It is almost like having your cake and eating it, too.
It is a simple mathematical calculation. Check it out, and let the numbers do the talking
When there is an opening to fill, a company has four basic approaches at their disposal:• Advertise the position on Internet job sites• Network• Probe the Internet for viable candidates• Use recruitersWhen a company advertises an opening on an Internet job site, they receive hundreds of resumes. It simply is too long of a process and financially prohibitive to review every resume and move through each step of the interviewing and selection process to fill the opening.Since decision-makers know other decision-makers, a hiring manager’s network can be quite extensive. In time, good candidates can be located. The problem with this approach is that the hiring manager may simply be too busy to engage in the time and human interaction required to make this happen.Employers and recruiters utilizing keyword searches scour the job sites in search of candidates to fill job openings. A major segment of these openings are unadvertised. When you post your resumes to a job site, you gain visibility, indirectly, into the hidden job market, and have access to a greater number of jobs.On the downside, since most people searching will post their resume to a number of different sites, the number of potentially viable candidates for any one particular position
Think back...a long time ago…when you had an open mind!
What attracted you to your first job? Maybe you were still living at home and just wanted to make a few extra bucks? Later, when you graduated from High School or College your goals had probably changed. Money was certainly important, but what about those extra "perks" offered by your new employer—enticing weren't they? Maybe you were impressed with being offered all kinds of benefits, from health insurance to a 401k, group life to disability insurance, and even birthdays to vacations days.
Perhaps your needs changed as you transitioned from a single person through raising a family. I am sure you have heard the old saying, "The more things change, the more they stay the same."
That is certainly true when it comes to basic needs!
Today, you may BE the Employer or maybe the Human Resource Manager. Either way, you feel the weight placed upon your shoulders to provide benefits to your employees, to help them feel appreciated, and hopefully somewhat secure. After all, they need you, and you need them.
With today's high costs of providing health benefits, more and more employers are finding it necessary to "re-think" how to tackle this difficult situation.
What's a company to do?
Employers from virtually every industry are asking themselves:
- Do we cut back on the health benefits we offer?
- Do we raise deductibles and/or co-pays?
- Do we transfer more risk and/or costs to our people?
- Do we offer benefits based on employee "class?"
- Do we eliminate health benefits altogether?
Many employers have already made some of these changes, if not all of them, or they are possibly contemplating doing so at some future date.
However, REDUCING BENEFITS, or NOT PROVIDING THEM AT ALL, even for some of their staff, can have a detrimental effect on ALL THREE MAJOR BUSINESS GOALS:
- Increasing Revenues
- Decreasing Expenses
- Increasing Efficiency
Making decisions that could have a negative effect on their overall profitability makes many business owners very nervous indeed!
Can a company actually CONTROL the rising costs of Major Medical coverage?
It is no surprise to most companies that rate increases in the double digits are not at all uncommon these days. These rates reflect the "experience" of the group. Higher "utilization" of the plan often translates into much higher premiums at renewal.
No wonder so many companies are being forced to "re-evaluate" their options!
However, there is a new generation of Voluntary Benefit plans, commonly called "gap" coverage that allows a company to increase their deductible, resulting in a significant reduction in premium. This plan is designed to "match" the changes in the major medical plan.
They then "add" the voluntary gap plan to the "front end" of their benefit plan to cover most of the new "exposure" to the employee. This plan can cover most of the expenses that would have been covered by the "old" major medical plan, up to the new deductible. The result: The TOTAL premium for both plans COMBINED can cost an employer from 10% to 20% LESS THAN THEIR PREVIOUS PREMIUM! Lower premiums—with no significant reduction in benefits! It is almost like having your cake and eating it, too.
It is a simple mathematical calculation. Check it out, and let the numbers do the talking!
The New Mexico State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is:Taxation and Revenue Department P.O. Box 630 Santa Fe, NM 87504-0630 (505) 827-0867 www.state.nm.us/taxNew Mexico does not have a state form to calculate state income tax withholding.Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In New Mexico cafeteria plans are not taxable for income tax calculation; not taxable for unemployment insurance purposes. 401(k) plan deferrals are not taxable for income taxes; taxable for unemployment purposes.In New Mexico supplemental wages are taxed at a 7.7% flat rate.You may file your New Mexico State W-2s by magnetic media if you choose to.The New Mexico State Unemployment Insurance Agency is:Department of Labor Employment Security Division 401 Broadway, N.E. P.O. Box 2281 Albuquerque, NM 87102 (505) 841-8712 http://www.workerscomp.state.nm.us/The State of New Mexico taxable wage base for unemployment purposes is wages up to $16,800.00.New Mexico requires Magnetic media reporting of quarterly wage reporting if th
Today, you may BE the Employer or maybe the Human Resource Manager. Either way, you feel the weight placed upon your shoulders to provide benefits to your employees, to help them feel appreciated, and hopefully somewhat secure. After all, they need you, and you need them.
With today's high costs of providing health benefits, more and more employers are finding it necessary to "re-think" how to tackle this difficult situation.
What's a company to do?
Employers from virtually every industry are asking themselves:
- Do we cut back on the health benefits we offer?
- Do we raise deductibles and/or co-pays?
- Do we transfer more risk and/or costs to our people?
- Do we offer benefits based on employee "class?"
- Do we eliminate health benefits altogether?
Many employers have already made some of these changes, if not all of them, or they are possibly contemplating doing so at some future date.
However, REDUCING BENEFITS, or NOT PROVIDING THEM AT ALL, even for some of their staff, can have a detrimental effect on ALL THREE MAJOR BUSINESS GOALS:
- Increasing Revenues
- Decreasing Expenses
- Increasing Efficiency
Making decisions that could have a negative effect on their overall profitability makes many business owners very nervous indeed!
Can a company actually CONTROL the rising costs of Major Medical coverage?
It is no surprise to most companies that rate increases in the double digits are not at all uncommon these days. These rates reflect the "experience" of the group. Higher "utilization" of the plan often translates into much higher premiums at renewal.
No wonder so many companies are being forced to "re-evaluate" their options!
However, there is a new generation of Voluntary Benefit plans, commonly called "gap" coverage that allows a company to increase their deductible, resulting in a significant reduction in premium. This plan is designed to "match" the changes in the major medical plan.
They then "add" the voluntary gap plan to the "front end" of their benefit plan to cover most of the new "exposure" to the employee. This plan can cover most of the expenses that would have been covered by the "old" major medical plan, up to the new deductible. The result: The TOTAL premium for both plans COMBINED can cost an employer from 10% to 20% LESS THAN THEIR PREVIOUS PREMIUM! Lower premiums—with no significant reduction in benefits! It is almost like having your cake and eating it, too.
It is a simple mathematical calculation. Check it out, and let the numbers do the talking
Interviewing well is an art and yet I find so many people pay very little attention to this aspect of the job search process. It is in fact likely the single most important step.If you are called for an interview, the assumption must be that it is your job to lose. If you have been called, you have many of the skills needed for the job and your qualifications are enough of a match that if the fit is right, they could hire you. People are busy and companies value their time. They are not going to spend the time and resources to have you come in for an interview if they don't think you can do the job. So, your job at this point is create rapport, show how you can contribute to their bottom line, determine if the job and company are a fit for both of you and then express your enthusiasm. The question is, how?Building RapportThis happens from the moment you receive a call to set up an interview. Be aware that every contact you have is evaluating you. They are paying attention to how you talk on the phone, your tone of voice, your energy, etc. When you first meet in person they are looking for eye contact, your presence, and how you speak. Interviewers, whether HR personnel or decision makers, are looking for a connection and your personality and personal presentation will make
- Do we cut back on the health benefits we offer?
- Do we raise deductibles and/or co-pays?
- Do we transfer more risk and/or costs to our people?
- Do we offer benefits based on employee "class?"
- Do we eliminate health benefits altogether?
Many employers have already made some of these changes, if not all of them, or they are possibly contemplating doing so at some future date.
However, REDUCING BENEFITS, or NOT PROVIDING THEM AT ALL, even for some of their staff, can have a detrimental effect on ALL THREE MAJOR BUSINESS GOALS:
- Increasing Revenues
- Decreasing Expenses
- Increasing Efficiency
Making decisions that could have a negative effect on their overall profitability makes many business owners very nervous indeed!
Can a company actually CONTROL the rising costs of Major Medical coverage?
It is no surprise to most companies that rate increases in the double digits are not at all uncommon these days. These rates reflect the "experience" of the group. Higher "utilization" of the plan often translates into much higher premiums at renewal.
No wonder so many companies are being forced to "re-evaluate" their options!
However, there is a new generation of Voluntary Benefit plans, commonly called "gap" coverage that allows a company to increase their deductible, resulting in a significant reduction in premium. This plan is designed to "match" the changes in the major medical plan.
They then "add" the voluntary gap plan to the "front end" of their benefit plan to cover most of the new "exposure" to the employee. This plan can cover most of the expenses that would have been covered by the "old" major medical plan, up to the new deductible. The result: The TOTAL premium for both plans COMBINED can cost an employer from 10% to 20% LESS THAN THEIR PREVIOUS PREMIUM! Lower premiums—with no significant reduction in benefits! It is almost like having your cake and eating it, too.
It is a simple mathematical calculation. Check it out, and let the numbers do the talking
Do you know any high achievers, if you do, you know they surround themselves with exceptional resources.Successful investment advisors surround themselves with best of everything, including but limited to: the best people, the best training, the best strategies, the best tactics, the best resources and the best opportunities.The reason why? Success people don’t want to sit around and try to re-create the wheel. They realize that someone else has already spent hundreds of hours and literally thousands of dollars doing all the grunt work to be successful.High Achievers want to do everything faster, cheaper, and smarter then their competitors every chance they get. They do not want to waste time or money spinning their wheels trying to find out what work and what doesn’t.You always will hear people say, if I knew then, what I know now I could have been earning $20, $30, or $50,000 month 10 to 15 years ago. High Achievers does not have that problem. They seek, discover, and attach themselves to resources that will help them achieve their vision.Of course you have to have a vision or goal is mind to begin with and most successful people do, no matter if they are an executives, entrepreneurs, or professional athlete. As an investment advisor your goal can be anything
Making decisions that could have a negative effect on their overall profitability makes many business owners very nervous indeed!
Can a company actually CONTROL the rising costs of Major Medical coverage?
It is no surprise to most companies that rate increases in the double digits are not at all uncommon these days. These rates reflect the "experience" of the group. Higher "utilization" of the plan often translates into much higher premiums at renewal.
No wonder so many companies are being forced to "re-evaluate" their options!
However, there is a new generation of Voluntary Benefit plans, commonly called "gap" coverage that allows a company to increase their deductible, resulting in a significant reduction in premium. This plan is designed to "match" the changes in the major medical plan.
They then "add" the voluntary gap plan to the "front end" of their benefit plan to cover most of the new "exposure" to the employee. This plan can cover most of the expenses that would have been covered by the "old" major medical plan, up to the new deductible. The result: The TOTAL premium for both plans COMBINED can cost an employer from 10% to 20% LESS THAN THEIR PREVIOUS PREMIUM! Lower premiums—with no significant reduction in benefits! It is almost like having your cake and eating it, too.
It is a simple mathematical calculation. Check it out, and let the numbers do the talking
Industrial paper shredders are used to shred large volumes of paper. These are perfect for use in large companies, outsourced shredding companies, large corporations, banks, businesses, and warehouses. Industrial paper shredders can manage all your paper shredding needs in a cost effective, secure, and convenient way. Industrial paper shredders are able to destroy substantial workloads more efficiently. They are available in crosscut and strip cut versions.Industrial paper shredders are generally designed to shred about 2,000 sheets of paper at a time. They can also shred large number of computer printouts, cardboard boxes, carbon ribbon cassettes, file folders, plastic bottles, floppy disks, CD?s, aluminum cans, cartridges, and more. In short, Industrial paper shredders can cater to the shredding requirements of an entire organization.A number of manufacturers provide paper shredders for industrial use. Ameri-Shred Corp, Dahle, MBM, Kobra, Offis Life, and Olympia are some among them. Popular models of industrial paper shredders include Kobra Cyclone and Dahle XC-100. These are suitable for a variety of applications such as high security shredding, pharmaceutical, and commercial shredding. Most suppliers also offer online services and warranty programs to the buyers.Most industri
They then "add" the voluntary gap plan to the "front end" of their benefit plan to cover most of the new "exposure" to the employee. This plan can cover most of the expenses that would have been covered by the "old" major medical plan, up to the new deductible. The result: The TOTAL premium for both plans COMBINED can cost an employer from 10% to 20% LESS THAN THEIR PREVIOUS PREMIUM! Lower premiums—with no significant reduction in benefits! It is almost like having your cake and eating it, too.
It is a simple mathematical calculation. Check it out, and let the numbers do the talking!
There is ANOTHER MAJOR BENEFIT to making this move: Much of the "front end" exposure is absorbed by the gap plan, and does not show up in the major medical experience. Renewal premiums, then, often drop to single digits. So, the company not only saves premium dollars immediately, but possibly for years to come! Pretty cool.
This can have a positive effect on turnover, primarily for those employees that are already on the major medical plan, in other words, the more "highly" compensated.
BUT, most employers' turnover problems come from the "lesser" compensated! This includes those who are NOT QUALIFIED to participate, or CANNOT participate because they simply cannot afford it.
What is the root cause of Turnover?
I do not have to tell you how employee morale can affect a company's bottom line. I am sure you see it in your everyday life.
Have you ever noticed that when you go out to your favorite restaurant, you can almost "sense" the morale of your server by their very attitude and the quality of the service you receive? There is probably a very strong correlation between that restaurant's benefit program and the server's job satisfaction—and it shows up right at your table!
Don't get me wrong—I'm not picking on food service—it's just a little more "visible" there. It also shows up with customer service personnel, sales people, line workers, fork lift operators, and, oh yes, it even shows up in break rooms! The truth is: It shows up EVERYWHERE—INCLUDING a company's BOTTOM LINE!
It's very simple: Satisfied employees stay. The others go.
What is the actual cost of Turnover anyway? And why should I care?
In every study I have researched, and information I have received from some of the most experienced and respected human resource managers anywhere, the answer is the same:
VERY EXPENSIVE!
It seems that the number STARTS at $3,500, at a minimum, to replace ONE $8.00 per hour employee! That's almost THREE MONTHS WAGES SPENT—for just one lost employee! The cost goes up exponentially for the more highly compensated people. This includes advertising for the job opening, interviews, screening, training the new hire…Oh, you know the rest.
Therefore, many employers are turning to Voluntary Benefits to provide more VALUE! But, Voluntary Benefits are just what they say they are!
Voluntary benefits are FIRST voluntary to the employer who takes the time to find out what kinds are available, decides which ones best suit his or her company's objectives, and then VOLUNTARILY decides to make them available to their employees.
Voluntary benefits are THEN voluntary to the employees, who can pick and choose among the choices offered, based on his or her personal needs.
Oh, and ONE OTHER IMPORTANT CONSIDERATION: It is painfully obvious that losing
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