Employee turnover is very expensive. It can cost as much as 50% of an annual salary to replace only an entry level worker. For a worker on the executive level, it can cost 400% of an annual salary.
Even though turnover is inevitable, there are ways to lower the turnover rate and to keep your employees working for your company. It is important that your employees like working for your company and feel motivated. According to Yahoo Finance, one way is incentivized goals for working hard and producing good results. It can be an extra bonus in the paycheck, or a paid vacation to Costa Rica. Not only will it motivate the workers to work hard, but it’ll also keep them around. Acknowledging accomplishments is also important. Everyone likes to know when they are doing a good job and praising employees for excellent work raises morale. You should also keep your employees in the loop about company news. Nothing makes employees feel unvalued like not telling them about important developments in the company.
Darius Fisher is a good “fixer” for helping professional people establish a good online reputation. He is the president and co-founder of Status Labs, a premier online reputation management agency. He helps those who are in need of reputation repair, like those who used to keep a low online profile until a scandal draws them out in the light. That isn’t to say that he protects the immoral people in business. Mr. Fisher is adamant about the standards in his clients. But he also believes there are two sides to every story and that news and blog articles only tell one side.
Mr. Fisher emphasizes preparation and investment in an online reputation as well. Little preparation leaves people as targets for attacks from trolls or bad press. But with the right measures, like keeping your personal information private and building a “fortress” of good press to mitigate possible scandals in the future.
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