The Most Under-Valued Tip for Managing Employee Retention

The Most Overlooked Method of Improving Employee Retention

Virtually every company measures turnover. For some industries – including hospitality, customer service and retail – typical turnover rates can be as high as 40 percent. One HR manager stated that his organization prepares for high turnover by making sure the jobs are simple to learn so they can quickly incorporate new individuals when they’re hired.

Employee turnover

Employee turnover

While this strategy may be true for some companies, research reveals that it’s not actually a good approach. No matter the position they’re in, permanent employees offer far more value than the ones just cycling through.

Studies reveal that the total cost of losing just one employee can cost a company literally thousands of dollars.

What’s the best way to decrease employee turnover?

Paying your staff what they’re worth is a start. According to experts, a lower salary will drive a higher turnover rate. On the other hand, overpaying them won’t offset a negative work environment. The truth is that several businesses with hired part-time help, such as restaurants, home health care businesses and retail stores, only have so much to spend on their employees’ salaries. The margins in these businesses can be super thin.

Positive work environment

Positive work environment

One of the most crucial areas to consider in decreasing employee turnover is the general work environment. It’s your job as a supervisor to create a positive, collaborative working atmosphere where all members actually want to work as a team. This also includes providing them with a certain amount of flexibility in their schedule.

How employee scheduling software decreases turnover

Since budgets are often too restrictive in terms of higher employee compensation, tools such as Hello Scheduling can provide something they truly desire and for free, and that’s flexibility in their work schedule.

Flexible schedule

Flexible schedule

Schedule flexibility begins by considering the availability of your employees. By using Hello Scheduling, employees will have the ability to log into the company’s system from virtually any computer, mobile phone or tablet in order to enter their availability. Because you’re in charge, you can readily approve or deny their requests. Once you approve their requests, Hello Scheduling will make sure that employees aren’t accidentally scheduled for particular shifts if they are unavailable.

Planning employee shifts

Planning employee shifts

Employees have greater flexibility in their schedule if they can request unavailability when needed.

Once the work schedule is set, Hello Scheduling lets your employees trade shifts with their co-workers, giving them even more flexibility. Trading shifts, or shift swapping, means that an employee can simply trade his or her shift with another coworker’s shift. After a shift is swapped, you’ll instantly receive a notification that some of your employees wish to trade shifts, whereby you can either deny or approve the request.

Also, Hello Scheduling has what’s called “offer up shift” capability. Using this key feature, employees are able to offer their shifts to the entire organization. Any employee who is able to work that particular shift will receive an email that the shift is “offered up.” Unless another employee is willing to take the shift, the original employee is still expected to work it, however.

Key ideas

Key ideas

Other key ways to avoid employee turnover include the following:

Respect every employee in your organization.

In the end, the most enduring and successful organizations are ones that have a deep respect for all their employees (and clients) and a focused mission, while putting their time, money and energy into creating a very engaging and positive work environment. They’re careful to choose the right individuals who’ve proven their work ethics and offer them opportunities to move up the ladder once the time is right.

Appreciate employees

Appreciate employees

Treat your employees as if they’re irreplaceable and valuable.

Employee retention is nothing more than just a symptom of a bigger problem, but it must be taken seriously. Once your employees are firmly established, it’s likely that the only reason they’ll ever leave is because their positions weren’t challenging enough for them.

For example, one outstanding employee can offer much more value overall than three or four average employees. Great employees will work efficiently, please customers, and gain your confidence. If you consider just how much time and money you’ll eventually lose if you must replace one of your star employees, you’ll soon discover how seriously investing in them is one of the smartest moves you can make.

Employee development

Employee development

Let your employees know where they stand.

Take the time to outline clear and challenging career goals for your employees. They want to know what lies ahead of them in terms of taking their job to the next level. Also, perform annual reviews to discuss these important topics and to ensure that you’re both on the same page. This will encourage them to ask you questions concerning their careers and make them feel like an integral part of the organization. If you have ideas on this topic to share, please visit our Delicious page here and leave your comments or suggest some useful links to explore on this topic.

Tangible Property Regulations Edits Could Hurt Businesses

IRS Changes to Tangible Property Regulations Could Hurt Small Businesses, say Experts

 

The new Internal Revenue Service (IRS) regulations on the deduction and capitalization of expenses related to tangible property regulations could hurt small businesses, say tax experts. Still, there is improvement that could also benefit small business owners when it comes to amounts paid to improve a unit of property.

Tangible Property Regulations

Tangible Property Regulations

 

As a consequence, the wise business owner is encouraged to contact a local real estate broker or IRS expert to inquire ask whether new “tangible property regulations” will hurt or event help when it comes to paying the IRS.

Another aspect of the changes to IRS tangible property regulations is linked to how the IRS is actually stating that new regulations will help rather than hurt small business owners. At the same time, tax experts are wary of the IRS when it comes to the impact of any new taxes or guidance for small business owners. For instance, concerned citizens have written to the IRS asking about the many challenges and obligations that small business already faces in this uncertain economy.

IRS regulations

IRS regulations

 

New IRS regulations may burden business owners

The concern about new IRS regulations that are linked to change to tangible property regulations are still somewhat confusing, state officials with the American Institute of CPAs (AICPA).

For example, the long list of AICPA concerns for small business owners include:

– How will these new IRS regulations provide guidance for such things as capital expenditures such as repairs, business supplies and even maintenance for business properties?

– Will the IRS change current guidance and rules for deductible business expenses?

– Does the IRS have a plan to help business owners make adjustment for such things as inflation?

– How will the IRS calculate adjustments when it comes to prior-year tangible property costs?

In general, today’s already busy and often stressed out small business owner has a real need-to-know when it comes to new IRS tax increases. The best advice, say tax experts, is to consult with a local real estate agent or tax attorney.

Internet Tax Freedom Act

Internet Tax Freedom Act

 

Internet Tax Freedom Act impacts small business owners

While there has been a lot written and reported in the media and online about the Internet Tax Freedom Act, there is little written today about how this act prevents state and local governments from simply taxing users for Net access. In turn, there is concern from small business owners who feel they are already “taxed to death.”

While there is hope that the new Republican-controlled Congress will find some way and means to give small business owners a new permanent Internet Tax Freedom Act in 2015 that will save them money, there are still real fears that more IRS tax is on the way for small businesses.

Moreover, there is more good news on the horizon for investors and small business owners, states the Center for Audit Quality (CAQ). According to a CAQ survey, “investor confidence” in such things as US capital markets has claimed steadily. However, the country is still facing a post-Recession period when there are clear and present dangers for those betting on Internet business growth with their investment portfolios.

 

Burdening small businesses

Burdening small businesses

Tangible Property Regulations hurt small businesses?

The new IRS regulations for tangible property state that a “unit of property” is still defined as a building and its various components. However, there are many longtime business owners commenting online about not being able to decode “just what the IRS wants or requires?”

Overall, there are many knowledgeable real estate brokers who specialize in commercial property rentals for small business who can help with a “reality check” on if tangible property regulations will either help or harm your small business.

On top of all this, when it comes to your tax filings for yourself or clients, consider e-filing this year.  When considering solutions to efile 1099 forms online, I recommend using services like eFile4Biz.com.  They’re an industry leader, and whether you use them or not, their service can be an excellent benchmark to measure other providers quality.

They handle everything – the e-filing, printing and delivery of your forms to recipients as well.  Choosing to file 1099 online and w-2 tax forms will save you tons of running around and stress involved with organizing forms and postage, including running around to drop off the mail.  Their video is shown above, if you want to learn more. Stop by our WordPress page, and post your comments or resource links to debate this matter further.

Why File For Insurance Reimbursements Using The HCFA CMS 1500 Form

Do you work in a doctor’s office?

Working in the patient care field, you probably bill insurances companies. In most offices, the HCFA CMS 1500 form is the most widely used. Previously called the HCFA 1500, it’s now knows simply as CMS 1500. The revised cms 1500 version 02/12 claim form got its name after the Centers for Medicare and Medicaid Services, which implemented the standard. Countless Medicaid Agencies require this billing form.

Dentists have to file a CMS 1500 for patient care.

Dentists have to file a CMS 1500 for patient care.

The very basics.

This basic form is used to claim reimbursements by suppliers and providers. Basically, it needs to be sent within one year of performing any service. Some folks try to use copies, but quickly realize the unique ink makes it impossible.

Especially surgical procedures usually require a CMS 1500 form for reimbursement

Especially surgical procedures usually require a CMS 1500 form for reimbursement

The process is easy… but shortcuts don’t pay.

For speed sake, payers use OCR tech to scan all forms, and process payments. If you use poor quality – or the wrong type of ink – you’ll receive errors. So, submitting your forms without error means using the exact document, ink quality, and correct patient data. Ignore these steps, and a rejection is almost inevitable.

The conclusion:

Aside from this, waiting to re-send the correct form will delay reimbursement. An option for offices that submit several of these at a time is cms-1500 claim form software. Ultimately, you need a quality form from a reliable provider. This guarantees your medical office has a smooth stream of reimbursements from its form submissions.