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Add You - Why Employees Leave
One of the things that a franchisor has to offer a potential franchisee is their brand name. A strong brand name means the built-in potential customers for the franchisee and his franchise outlet. Each franchisor must stipulate how their trademarks and proprietary information within the confidential operations manual will be used during the term of the franchise. It is far better in my opinion to be upfront with this issue into address it in the franchise agreement prior to the signing or exchanging of any monies for the franchise business. It is for this reason that I developed a clause to put into our franchise agreement, which was a little different than most other franchisors. Below is a copy of that clause;3.11.1 Proprietary RightsFranchisee acknowledges the exclusive right, title and interest of Franchisor in and to the Marks. Franchisee agrees that the Service Marks, Confidential Operations Manual, and System are Franchisor’s sole and exclusive property. Nothing in this Agreement or any other agreement will give Franchisee or others any right, title, or interest whatsoever in or to the Service Marks, Confidential Operations Manual, or System as it exists or as it is developed. Franchisee’s license to use the Service Marks is non-exclusive. Franchisor, in its sole discretion, may operate under the Service Marks and may grant licenses to others to use the Service Marks on any terms and conditions Franchisor deems appropriate. Franchisor may make reasonable effort
c. When you have qualified candidates, pay them to shadow a capable employee in the same job for one day, and then get feedback from both of them.
d. Ask the prospective employee to identify the needs and expectations they have of the job and the company. Spell out the needs and expectations the company has of them, and then compare what both of you have written. How close are you?
e. Continue to review the mutual needs and expectations you have of each other at least once a month during their first three months.
Our experience has shown that measures like these tend to increase employee loyalty, effort, and retention.
Reason #4: Compensation not competitive.
Are your wages, salaries and benefits competitive with what other employers pay? If they’re not, you can expect to lose people unless there are other compelling reasons for them to stay for slightly lower wages. Conduct a comparison
Knowledge of accounts can make life much easy. If you are to invest in a new business or joining your forefather’s business, planning to take some loan, looking for job in any marketing company, desire to be the manager of a multinational company or have the onus to manage your own assets and liabilities, knowing some basics of accounts becomes mandatory.Broadly, accounting is bifurcated into two categories-Cash Bases AccountingAccrual AccountingThe Cash Based accounting pertains to the management of an individual’s personal monetary transactions. In this case, he keeps a track of the money he withdrew, deposited, gave or received from someone etc. This accounting comes to life when actual cash transactions take place.The Accrual Accounting requires an accountant who notes the transactions even if no money has been actually exchanged. This method works on the principle of comparing or seeing the ratio of the expenses to expenditure. If the expenditure is more, you need to cut down your luxuries, if not then it’s always good to have some savings for future. This type of accounting tells you the amount that you owed; this might not match with the figure of your bank balance.In the language of accounting there are several key terms that one needs to be familiar with. Some of the crucial ones are discussed below-The Assets- the assets are generally those possessions of an individual that have a good market value or are quite valuable. Assets
Here are 10 of the most common reasons employees leave; we haven’t ranked them in their order of importance with the exception of the first one, which is usually the largest single reason employees leave.
10 Common Reasons Employees Leave Employers
1. Poor relationship between the employee and their immediate boss.
2. Lack of a career advancement plan.
3. A poor match between the employee and the job or the employee and
the company.
4. Compensation not competitive.
5. No direct link between strong performance and increased rewards.
6. A need for stimulating, meaningful work.
7. Lack of appreciation, recognition, and rewards.
8. Insufficient coaching and feedback.
9. Quality of the people the employee works with.
10. Insufficient alignment of how the employee’s work achieves
organizational objectives, and how the employee can be a greater
success.
Reason #1: Poor relationship between the employee and their immediate boss.
There’s a clich? that says, “People leave managers, not companies.”
Their boss may frequently criticize them while withholding praise and appreciation for quality work; demean them in front of others; pile on more work as a reward for being productive; refuse reasonable requests for time off or other matters; and act disagreeably. What can you do?
a. Make employee retention part of their job descriptions and base at least 25% of bonuses on employee retention.
b. Provide training in how to give corrective feedback-and in how to praise and recognize employees.
c. Help them understand the high cost of employee turnover and how it affects their performance and department.
d. Train them to conduct “stay interviews” with their employees so they find out why they continue to work there, what would entice them to leave, what they like most about their jobs, and what other skills they want to learn.
e. Consider coaching for supervisors and managers who need it; our experience is that most can make improvements.
Reason #2: Lack of a career advancement plan.
Many employers now have many Generation X (those born between 1965 and 1980) and Generation Y (born between 1981 and 1994) employees in their workforce.
Both of these generations are much more determined to add skills, training, and expertise to better develop their careers and stay more marketable and promotable.
Their supervisor or manager is often the person best qualified to help them identify and develop new skills since they’re the ones who are most familiar with the employee’s work, preferences, and performance on a daily basis. Your company will likely need to learn how to help employees develop career plans, and then train managers to work on these plans with their direct reports.
If two jobs and companies are fairly similar, and one employer offers career advancement help while the other does not, which employer do you think is more likely to attract and retain qualified employees?
Reason #3: A poor match between the employee and the job or the employee and the company.
Many new hires start with a fair amount of enthusiasm when they begin a new job with a new employer. However, when the new hire, the job, or the employer haven’t been well-matched, many will leave while the employer incurs expensive replacement costs.
How can you increase the number of successful new hire “fits?”
a. Use exit interviews, preferably by a third party who can promise confidentiality, to find out why they left.
b. Be certain job descriptions are accurate and up-to-date, and identify the skills and competencies the job requires, not just the tasks. Be able to state what is required to be successful in the job.
c. When you have qualified candidates, pay them to shadow a capable employee in the same job for one day, and then get feedback from both of them.
d. Ask the prospective employee to identify the needs and expectations they have of the job and the company. Spell out the needs and expectations the company has of them, and then compare what both of you have written. How close are you?
e. Continue to review the mutual needs and expectations you have of each other at least once a month during their first three months.
Our experience has shown that measures like these tend to increase employee loyalty, effort, and retention.
Reason #4: Compensation not competitive.
Are your wages, salaries and benefits competitive with what other employers pay? If they’re not, you can expect to lose people unless there are other compelling reasons for them to stay for slightly lower wages. Conduct a comparison
Are your products or services geared towards only one target market? You can increase sales and profits by increasing your target markets. Below are some creative ways to increase your target markets by using your existing products and services you're selling right now.REDESIGNYou can increase your target markets by redesigning your products and services. For example: you're selling a book called "Internet Marketing Tips For Accountants" You could rewrite part of your book and call it "Internet Marketing Tips For Lawyers". You've now increased your target markets by redesigning your book.ADD-ONYou can increase your target markets by adding on other product or service with your main one. For example: if you're selling a football magazine you could add a free football when someone buys a subscription. You're now targeting people who want the football magazine and those that want to play football out in the yard. Sometimes they buy stuff just to get the freebies.TEAM-UPYou can increase your target markets by doing a cross promotion with a similar non-competeing businesses. For example: your business sells tennis rackets and you find another business to cross promote with that sells tennis balls. You could combine your racket and their balls in one package. You are now targeting people that need tennis rackets and balls.
organizational objectives, and how the employee can be a greater
success.
Reason #1: Poor relationship between the employee and their immediate boss.
There’s a clich? that says, “People leave managers, not companies.”
Their boss may frequently criticize them while withholding praise and appreciation for quality work; demean them in front of others; pile on more work as a reward for being productive; refuse reasonable requests for time off or other matters; and act disagreeably. What can you do?
a. Make employee retention part of their job descriptions and base at least 25% of bonuses on employee retention.
b. Provide training in how to give corrective feedback-and in how to praise and recognize employees.
c. Help them understand the high cost of employee turnover and how it affects their performance and department.
d. Train them to conduct “stay interviews” with their employees so they find out why they continue to work there, what would entice them to leave, what they like most about their jobs, and what other skills they want to learn.
e. Consider coaching for supervisors and managers who need it; our experience is that most can make improvements.
Reason #2: Lack of a career advancement plan.
Many employers now have many Generation X (those born between 1965 and 1980) and Generation Y (born between 1981 and 1994) employees in their workforce.
Both of these generations are much more determined to add skills, training, and expertise to better develop their careers and stay more marketable and promotable.
Their supervisor or manager is often the person best qualified to help them identify and develop new skills since they’re the ones who are most familiar with the employee’s work, preferences, and performance on a daily basis. Your company will likely need to learn how to help employees develop career plans, and then train managers to work on these plans with their direct reports.
If two jobs and companies are fairly similar, and one employer offers career advancement help while the other does not, which employer do you think is more likely to attract and retain qualified employees?
Reason #3: A poor match between the employee and the job or the employee and the company.
Many new hires start with a fair amount of enthusiasm when they begin a new job with a new employer. However, when the new hire, the job, or the employer haven’t been well-matched, many will leave while the employer incurs expensive replacement costs.
How can you increase the number of successful new hire “fits?”
a. Use exit interviews, preferably by a third party who can promise confidentiality, to find out why they left.
b. Be certain job descriptions are accurate and up-to-date, and identify the skills and competencies the job requires, not just the tasks. Be able to state what is required to be successful in the job.
c. When you have qualified candidates, pay them to shadow a capable employee in the same job for one day, and then get feedback from both of them.
d. Ask the prospective employee to identify the needs and expectations they have of the job and the company. Spell out the needs and expectations the company has of them, and then compare what both of you have written. How close are you?
e. Continue to review the mutual needs and expectations you have of each other at least once a month during their first three months.
Our experience has shown that measures like these tend to increase employee loyalty, effort, and retention.
Reason #4: Compensation not competitive.
Are your wages, salaries and benefits competitive with what other employers pay? If they’re not, you can expect to lose people unless there are other compelling reasons for them to stay for slightly lower wages. Conduct a comparison
Product Possibilities in the Brick and Mortar World and on the NetBudgeting for a business can be a challenging task. Indeed, at times it can be difficult for a business enterprise to keep afloat with all of the various expenses that it can be hit with during the course of a year. With that said, many enterprises are turning to business web site builder software programs to assist in saving money on their overall operations.In this day and age there are an ever growing number of resources through which a person can make the purchase of business web site builder software programs. These website building software programs are readily available in both the brick and mortar world and on the Internet and World Wide Web. By shopping around you will be able to find exactly the business web site builder software programs that will best meet your needs both today and well into the future.In the brick and mortar world, a typical office supply store -- particularly the major chain office supply outlets -- carry a decent selection of different business web site builder software programs. In addition, many computer software stores carry business web site builder software programs on their shelves -- particularly with an ever increasing number of people starting their own businesses in this day and age. There are also catalogue operations that allow a person to purchase business web site builder software programs and related products through the mail.The Internet is
e. Consider coaching for supervisors and managers who need it; our experience is that most can make improvements.
Reason #2: Lack of a career advancement plan.
Many employers now have many Generation X (those born between 1965 and 1980) and Generation Y (born between 1981 and 1994) employees in their workforce.
Both of these generations are much more determined to add skills, training, and expertise to better develop their careers and stay more marketable and promotable.
Their supervisor or manager is often the person best qualified to help them identify and develop new skills since they’re the ones who are most familiar with the employee’s work, preferences, and performance on a daily basis. Your company will likely need to learn how to help employees develop career plans, and then train managers to work on these plans with their direct reports.
If two jobs and companies are fairly similar, and one employer offers career advancement help while the other does not, which employer do you think is more likely to attract and retain qualified employees?
Reason #3: A poor match between the employee and the job or the employee and the company.
Many new hires start with a fair amount of enthusiasm when they begin a new job with a new employer. However, when the new hire, the job, or the employer haven’t been well-matched, many will leave while the employer incurs expensive replacement costs.
How can you increase the number of successful new hire “fits?”
a. Use exit interviews, preferably by a third party who can promise confidentiality, to find out why they left.
b. Be certain job descriptions are accurate and up-to-date, and identify the skills and competencies the job requires, not just the tasks. Be able to state what is required to be successful in the job.
c. When you have qualified candidates, pay them to shadow a capable employee in the same job for one day, and then get feedback from both of them.
d. Ask the prospective employee to identify the needs and expectations they have of the job and the company. Spell out the needs and expectations the company has of them, and then compare what both of you have written. How close are you?
e. Continue to review the mutual needs and expectations you have of each other at least once a month during their first three months.
Our experience has shown that measures like these tend to increase employee loyalty, effort, and retention.
Reason #4: Compensation not competitive.
Are your wages, salaries and benefits competitive with what other employers pay? If they’re not, you can expect to lose people unless there are other compelling reasons for them to stay for slightly lower wages. Conduct a comparison
Norman Woodland, a 27-year-old graduate student at Drexel Institute of Technology in Philadelphia developed the first code system that automatically read product information during checkout. Woodland and his friend Silver were awarded a patent for their application titled Classifying Apparatus and Method on October 7, 1952. Many experts are of the view that the Woodland and Silver bar code was the basis of what would soon become a global phenomenon.In the beginning, barcodes were developed to store data in the spacing of printed parallel lines. The idea was to help grocery stores speed up the checkout process and keep better track of the inventory. However, the system soon picked up and became a success story.Barcodes form the basis of identification in almost all types of businesses in the modern world. Barcodes are variously called as Universal Product Codes or UPCs. These are machine-readable codes and come in strips, generally comprising of a series of short black lines of varied thickness. These codes are read by optical scanners called barcode readers or scanned from an image by special software. A laser reader or scanner can translate the barcodes into the corresponding alpha-numeric digits, which are used to uniquely identify a piece of property. Barcodes are used world over to implement Auto ID Data Capture (AIDC) systems that improve the speed and accuracy of computer data entry.At present, we have codes in several patterns of dots, concentric circles and
If two jobs and companies are fairly similar, and one employer offers career advancement help while the other does not, which employer do you think is more likely to attract and retain qualified employees?
Reason #3: A poor match between the employee and the job or the employee and the company.
Many new hires start with a fair amount of enthusiasm when they begin a new job with a new employer. However, when the new hire, the job, or the employer haven’t been well-matched, many will leave while the employer incurs expensive replacement costs.
How can you increase the number of successful new hire “fits?”
a. Use exit interviews, preferably by a third party who can promise confidentiality, to find out why they left.
b. Be certain job descriptions are accurate and up-to-date, and identify the skills and competencies the job requires, not just the tasks. Be able to state what is required to be successful in the job.
c. When you have qualified candidates, pay them to shadow a capable employee in the same job for one day, and then get feedback from both of them.
d. Ask the prospective employee to identify the needs and expectations they have of the job and the company. Spell out the needs and expectations the company has of them, and then compare what both of you have written. How close are you?
e. Continue to review the mutual needs and expectations you have of each other at least once a month during their first three months.
Our experience has shown that measures like these tend to increase employee loyalty, effort, and retention.
Reason #4: Compensation not competitive.
Are your wages, salaries and benefits competitive with what other employers pay? If they’re not, you can expect to lose people unless there are other compelling reasons for them to stay for slightly lower wages. Conduct a comparison
Well actually no it’s not usually but it can be far better if you know what to expect and how to manage your new business.Every new business owner starts off, full of hope, excitement and enthusiasm. How do you make sure that you are not on of the 80% of small businesses that fails in the first few years?1. Remember you won’t get a regular wage to start with. It takes some time for a new business to become profitable. Don’t panic, make sure that you have enough money in the bank to make your bills for the first 6 months. How do you do that? Make sure that you build this cash flow requirement into your initial planning, loan requirements and cash flow.2. Your business takes a lot of planning. The 6 months before you start your business and the 6 months after the start really requires a great deal of organizing and planning. Plan what your business will look like, how it will operate, where your market is and what you should sell at what price. That should be in your business plan – you DO have a business plan right? As you start your business, revisit your plans and update them as necessary.3. Become disciplined. Plan out your work day and produce a regular “To Do” list that you keep updated. Make sure that your plans are reflected in your work schedule. Ensure that you put in regular hours and that your “office” is manned when people want to contact you. Don’t procrastinate, do things when they need to be done.4. L
c. When you have qualified candidates, pay them to shadow a capable employee in the same job for one day, and then get feedback from both of them.
d. Ask the prospective employee to identify the needs and expectations they have of the job and the company. Spell out the needs and expectations the company has of them, and then compare what both of you have written. How close are you?
e. Continue to review the mutual needs and expectations you have of each other at least once a month during their first three months.
Our experience has shown that measures like these tend to increase employee loyalty, effort, and retention.
Reason #4: Compensation not competitive.
Are your wages, salaries and benefits competitive with what other employers pay? If they’re not, you can expect to lose people unless there are other compelling reasons for them to stay for slightly lower wages. Conduct a comparison of your wages and benefits every two to three years.
In addition, are you only paying minimum wage? If you are, then you’re susceptible to losing people to other employers for increases as low as 5% in their hourly wages!
Reason #5: No direct link between strong performance and increased rewards.
Do your employees know what they can do to improve their performance and productivity and to earn more as a result?
If they don’t, they’re likely to reach a plateau which consists of doing work that’s good enough to keep the job, but without expending extra effort.
Developing a work-compensation link isn’t easy, but companies have been doing it in one form or another for a long time. For example, salespeople who receive a base salary and commissions or bonuses for higher sales.
Or, gain-sharing plans where employees receive a percentage of production gains over a certain level.
The logistics of developing such a program are too lengthy to be covered here, but you can research or get outside consulting help on how to build direct links between increased performance and increased rewards/compensation in your organization.
Reason #6: A need for meaningful, stimulating work.
I must admit I don’t know how some people do the jobs they do: repetitive, boring, little thinking required, little chance for advancement.
Some jobs will always have these elements no matter what we do to redesign them. How can we make many jobs more meaningful and stimulating?
1) By acknowledging the value of the job, and more importantly, the person doing the job. Every job is beneficial to the organization and other employees in some way, yet it amazes me when managers don’t recognize the hard work some employees do.
If my boss thinks the work I do is important and tells me (and others), then I will often place a higher value on the work that I do-and on myself.
2) Ask the employee what the significance is of the job they do. If they say, “Just cleaning the building,” help them understand it’s much more than this. For example: “You help 103 other employees have a clean and more enjoyable place to work, and a building we’re proud to show to customers and visitors.”
This isn’t untruthful, it just sounds odd because many jobs-especially lower level ones-are talked about in negative terms.
3) Can you give the employee more choice in how they perform the job? Review what the job must accomplish as an end result and any safety or legal matters, and then ask them how to change or redesign the job.
Reason #7: Lack of appreciation, recognition, and rewards.
We won’t spend a long time on this section other than to underscore its importance since there are already so many books and resources available on delivering rewards and recognition.
We recommend conducting employee surveys once a year provided you actually act on the results; these will give you a lot of information about how well employees feel appreciated and recognized.
In terms of appreciation, research conducted by Gallup found that effective supervisors and managers praised each one of their employees a minimum of once every five working days.
What’s the best way of expressing giving praise? By thanking the employee and specifically telling them what they did right or well.
Answer this question about appreciation: How many people have ever complained to you that their boss gives them too much sincere praise and recognition?”
Reason #8: Insufficient coaching and feedback.
It’s surprising, but research shows many employees don’t get the positive feedback they need to know if they’re doing a good job--and what it is they’re doing that’s right. So they can continue to do it.
In addition, they often don’t get the corrective feedback they need to improve their performance.
Most people
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