Why startups should offer retirement plans to their employees

Many startups and small businesses think offering their employees a 401(k) plan isn't in the cards. The budget is tight, most startups think they're too small, and they don't think they can afford the administrative care. This is no longer true. It is possible for your startup to provide a retirement savings plan, and it can be affordable. In this article, we look at why startups should offer retirement plans to their employees.  You'll attract top talent You're more likely to recruit and h...
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5 reasons why not providing employee training costs your startup money

With unemployment rates at record lows, many large companies are recommitting chunks of their budgets to employee training. Why? This is to increase retention rates and enable their companies to keep their best and brightest team members. Yet, small businesses and startups may find themselves reluctant to provide employee training. Let's look at five reasons why not providing employee training costs your startup money.   #1: A more competitive workforce If you want to be competitive in your...
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7 ways startups can show appreciation for their employees

Sure, there's an "official" Employee Appreciation Day , but why wait? Showing your staff appreciation every day goes a long way towards improving employee morale and creating a top notch company culture. This not only improves employee retention, but when word gets around about what a great company you are to work for, your hiring chances explode. There are many ways you can make your employees feel valued every day. In this article, we look at seven ways startups can show appreciation for their...
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10 tips to help you reduce employee turnover

According to data from the US Bureau of Labor Statistics , three million people have voluntarily left their jobs every month since June 2017. If you're an employer, that is worrisome news. As a startup, you're going to spend some money and a whole lot of time hiring new staff and onboarding them. You want employees who stick around. To help you with employee retention, we look at five tips to help you reduce employee turnover. #1: Analyze turnover rates If you've been in business long enough, yo...
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5 ways to improve employee motivation & productivity with e-learning

One of the major reasons why people leave their jobs or feel unsatisfied with their current work position is routine. Doing the same thing every day, even if you're good at it, can kill productivity and leaves the person behind the job feeling stuck. Another reason behind the work routine is micromanagement. When you don't trust your employees with empowering tasks, you take away from their confidence. In time, this leads to boredom, a no-creativity work environment and finally, low productivity...
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Why your startup needs an employee handbook

An employee handbook is vital to the success of your startup. But, perhaps you're wondering why your startup needs an employee handbook and when it's appropriate to create one. Two of the simplest reasons you need one are for the creation of processes and policies and to facilitate benefits administration. Let's look at these reasons as well as a few others, but first, let's discuss when you need one.   When do you need a handbook? While there's no one-size-fits-all answer, it's the best pr...
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Managers: this is when your constructive criticism is needed (and when it's not)

Feedback is crucial for making sure everyone delivers his or her best performance at work. Employees need to know what they are doing well and not so well and, when it's delivered with the right intentions and in a way that's helpful, feedback is a valuable part of their learning and development. Since the purpose of giving feedback is to improve a situation or a person's performance, you need to think carefully about why you're giving feedback and how you're going to approach it. "Where and whe...
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Find the coaching in criticism

Most of us find it hard to take criticism, as our natural tendency to feel offended and react emotionally often overrides our need to learn and grow. While your manager can learn the skills required for giving effective feedback, you also need to learn how to receive it. Because no matter how good someone is at giving feedback, how you react to it is up to you. Here Sheila Heen and Douglas Stone explore the emotional triggers and how to manage them better so you can accept feedback, seek coachin...
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Self-assessment: 5 tips for writing your performance evaluation

Despite being a yearly rite of passage in many organizations, performance reviews are rarely popular. It's one of the tasks managers dislike the most and employees dread having to evaluate their own performance. However, apart from matching your accomplishments with business objectives, the review process can help you map your achievements against your career goals, plan your professional development and identify opportunities for learning and growth. To help you get the most out of your ne...
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