Here are this week’s links to a few good stories that we found and selected because we feel they might add valuable insights and perspectives for small to medium size businesses.
- “The best way to find out if you trust somebody – is to trust them.” So said Ernest Hemingway. Patty Azzarello uses this quote to open her article Good Things Seem to Happen When You Trust Talented People posted on the TLNT website. Trusting your employees can be powerful for the organization as long as it is thought through and realistic metrics are applied.
- It seems that whenever the topic of the minimum wage is discussed, much is said about the impact on small businesses. In How Small Businesses Are Adapting to New Minimum Wage Laws written by Kelly Spors and posted on the American Express Open Forum website she speaks to the reactions of some small business owners. While Seattle, Washington took a major leap out of the box to eventually increase its minimum wage to $15.00 per hour by 2019, an article on the Huntington Post website – Minimum Wage Would Be $21.72 If It Kept Pace With Increases in Productivity: Study appears to support the move.
- We have often spoken to the benefits of working with a PEO to help improve employee retention rates. Whatever path a small business owner chooses to retain employees, it makes sense to check out Employee Retention – How to Retain Employees on the Wall Street Journal website. Their bullet list includes the following:
- Offering great benefits
- Providing small perks
- Use of contests and incentives
- Conducting “stay” Interviews
- Promoting from within
- Fostering employee development
- Creating open communication
- Management involvement
- Communicating your mission
- Offering financial rewards
- Letting employees know what you expect
- Hiring an HR professional
All of these make great sense, but of course we submit that hiring a PEO makes far more sense than hiring an HR professional who would likely not have all tools needed to help your business grow. A fully staffed PEO can do just that as well as address all of the other needs listed.
To learn more about PEOs, please reach out to Genesis HR Solutions at AskUs@genesishrsolutions.com or 800-367-8367.