Monthly Archives: December 2020

People are a company's greatest resource. Businesses must invest in their employees and provide them with what they need to grow. If they do, people will be more likely to hit business goals, be fulfilled in work, and offer suggestions to bring the company innovations. The HR or human resources department is well-placed to provide employees with opportunities to develop their skills and bring new things to the table. The Role of Human Resources in a Company HR or human resources is an umbrella term for how a company manages and develops employees to increase performance. In the past, HR focused on [...]

A business will not thrive, let alone survive, without a great product. However, it pays to remember that other crucial elements impact an organization’s success. Human resources need to be top of mind for leaders, as it is the people of an organization that makes it thrive. Companies need to attract and take care of their employees as they are the lifeblood of the company. They make it possible for it to function and achieve its goals. Considering this, as a manager, you need to think of ways on how to effectively lead your people to work towards your company’s targets. [...]

Employees come and go. Businesses experience and struggle with employee turnover at some point. This is an inevitable reality that firms and organizations must face. On top of that, it’s worth noting that the retention crisis will only get worse in the future. This is because the competition for talent is becoming increasingly fiercer. Moreover, millennials—also often dubbed as the job-hopping generation—are comprising a larger part of the workforce. It is for these reasons that you must work on reducing your turnover as much as possible. Having employees leave your company one after another will take a toll on your [...]

When a company does not succeed in engaging, developing and nurturing its employees, employee turnover is likely to occur. The reasons for turnover can vary but the cost will remain the same. It costs organizations between $4,000-$60,000 to replace an employee. This amount varies depending on the annual salary of the role and includes costs such as direct hiring, the hiring managers and HR’s time, productivity loss, overtime, training of the new employee, etc. While some turnover cannot be prevented, some can, and those cases will require your extra attention as a deep-seated issue within your organization could be the [...]