You Can Increase Your Average Employee Retention Rate

You Can Increase Your Average Employee zurckhalten satzYou Can Increase Your Average Employee zurckhalten RateDo you still work for your first employer? Probably not. In fact, the Bureau of Labor Statistics reports that the average person has been at their job for 4.2 years. In other words, while some people stay for a long time, turnover is real and expected. Many businesses worry about their employee retention rate, as turnover can be expensive. The employee retention rate is not the same across all industries. Youd expect that a university that offers tenure to professors has a higher retention rate than the local McDonalds, which is often considered a starter job.People will come and go from both jobs but not at the same rate. How Do You Calculate the Employee Retention Rate? Retention is how many employees stay under your employment. Frequently, Human Resources professionals talk about turnover, i.e. how many employees leave their employment with you. If you have 100 employe es and 5 quit, you have a turnover rate of 5% (5/100) and a retention rate of 95% (95/100). Salary.com reported that in 2018 (downloadable pdf), the total retention rate for all industries was 80.7% which includes voluntary and involuntary terminations. This means that 19.3% of people left a job in 2018, for whatever reason. Most of these were voluntary terminations, with 14% of people choosing to leave their job. Employee Retention Rate by Industry Retention rates vary by industry, which is expected. Salary.com found the following employee retention rates Banking Finance 83.3% Healthcare 79.6% Hospitality 69.2% Insurance 87.2% Manufacturing Distribution 80% Not-for-Profit 82.5% Services 82.8% Utilities 89.7% Is a Low Employee Retention Rate Bad? Naturally, companies want to minimize their turnover, as it is quite expensive to replace employees. Employers need to recruit and train every new employee before they can start working as efficiently as the previous person. For s ome jobs, this training period is brief, but for others, you can expect a long period of six months or more before the new hire performs at an acceptable level. This, however, does not mean that all turnover is bad. You dont want your business to remain static and new people bring new ideas. Additionally, if your industry relies a lot on low-skilled (and thus, low paid) labor, when employees leave, it might mean you have successfully trained them for positions in which they will earn more money. While this can take a toll on your business, employees moving up into better-paying jobs is great for those individuals and the community at large. Is a High Employee Retention Rate Good? It depends. High employee retention rates can also indicate that your employees are stuck in their jobs. Stagnation can happen when the economy is bad- -there are no other jobs to go to- so employees stay with the company, regardless of their engagement level. As the economy improves, people will leave for better jobs. This type of turnover is bad for your business- the first people out the door tend to be the employees who have the best skill sets and who are the most in demand by other employers. How Can You Keep Your Employee Retention Rate High? Given the dire consequence of losing your best employees whenever labor markets rebound, youre probably wondering, how you can keep your employee retention rate high? Organizations with high employee retention rates have best practices that you can apply in your own organization. These are five key recommendations you can implement to increase your employee retention. Offer a competitive salary and benefits. Never assume that because your pay and benefits were fair three years ago that your pay is fair now. This is especially true in expanding industries such as software development and nursing or in cities that are experiencing growth. You should benchmark your jobs against the market every year and make sure that you pay your em ployees market rates. As a portion of a complete compensation package, employees also appreciate access to bonuses, profit sharing, activities, and events. Train your managers. Youve heard the saying that people dont leave jobs, they leave managers. This is true even though other circumstances such as feeling properly compensated may also affect employee decisions more. Make sure your managers are well trained in not only management techniques such as effective communication and soft skills but also in employment law. You dont want to lose employees because they are reporting to bad managers. Provide growth opportunities. Most people arent happy doing the same job for their entire lives. They want to grow in their careers and earn more money and have more responsibility. If you promote people from within your organization and provide opportunities such as transfers and lateral moves, people can feel confident staying with your company. This is critically important because the 2017 Society for Human Resources Management Employee Job Satisfaction and Engagement survey pinpointed aspects of employee growth and development amongst five of the top issues contributing to employee job satisfaction. Take employee suggestions seriously. Ask your employees for feedback and listen to what they say. If they tell you about a problem, ignore it at your own risk. They expect you to fix whatever is broken. Or, they expect a rational explanation for why the problem is not fixable and a chance to make improvements. Respond to all complaints of bullying, harassment, and other legal violations promptly and properly. Seek legal assistance and advice when necessary. Your employees should know how to report bad behavior and they should know that youll take care of the behavior if they do. If you ignore sexual harassment complaints, for instance, people will quit rather than tell you about problems. If you ignore bullying, people will quit to escape from their tormenter. The Bott om Line Employee retention is important for every business to understand. Understand what your employee retention rate is and how your rate compares to others in your industry and your region. If your employee retention rate is below average, work to fix it. Your employees and your bottom line will both benefit.

The Best Answers to Temporary Job Interview Questions

The Best Answers to Temporary Job Interview QuestionsThe Best Answers to Temporary Job Interview QuestionsInterviewing for a temp job? Its important to frame your responses to einstellungsgesprch questions carefully so that youll impress the hiring manager notlage only with your skills, but with your aptitude for a temporary role. A temporary job is one in which you remain in the position for a limited period of time. Temp jobs occasionally, but not always, turn into permanent positions. Temps (also known as seasonal workers) are sometimes hired through temp agencies, or they can be hired directly by a company. Temps work in a variety of fields, from administrative to legal to construction to manufacturing. In a temp job interview, its important to focus on your flexibility, your high comfort level with working in new environments, your ability to communicate and work well with a variety of colleagues, as well as your availability for temporary jobs. All job interviews go more smooth ly when the interviewee prepares ahead of time. To ace a temporary job interview, concentrate on the attributes that make you an excellent hire for a temp job, as well as a high-achieving employee in general. Discuss Salary Beforehand Often with temporary jobs, there is not a lot of room to negotiate salary, especially after the offer is made. If you are working with a temp agency, discuss your salary needs with the temp agency beforehand. Dont Ask for a Permanent Job Even if you would prefer a full-time position rather than a temp job, theres no need to mention it in the interview. Thats because of the temp agency, or the employer if they are hiring direct, wants to hire temporary workers who can commit to the job only for as long as needed. That being said, if you are asked if you might like a long-term position should one open up, you can answer yes, but still emphasize that you are excited about the temporary position. Focus on the Role Emphasize that you can fill th e specific role of the temporary position. Be koranvers to thoroughly read the job description ahead of time. Highlight the skills and experiences you have that will help you fill this role. Even more so than in an interview for a permanent job, you want to prove that you have what the employer needs. Because you will not be a long-term employee, focus more on how you can accomplish the required tasks, rather than your interest in the company or the companys culture. Highlight Key Temp Job Skills Beyond highlighting your skills that are related to the specific job, you can also highlight qualities that would make you a good temp worker. For example, emphasize your flexibility and availability (see below for more information on this). Also, emphasize your ability to work and get along with a variety of colleagues. If you are a quick learner, say so. Provide an example of a time when you demonstrated any of these skills. These qualities are needed for any temp job and will help yo u stand out. Know Your Availability Employers who are looking to hire temporary employees may want them to start right away, or to commit to a set schedule on the spot. Be sure you know your availability before going into the temporary job interview, so that you can answer without delay. Be Flexible Emphasize your flexibility. If you can work nights or weekends (if that is something the job might require), be sure to state this. Again, mention if you are able to start right away. Often, temp jobs require working a flexible schedule. Also, emphasize that you are a flexible worker who is comfortable working in new environments and with new people. That is something many companies are looking for in a temp worker. Temp Job Interview Questions and Answers Review common temporary job interview questions and sample answers you can use to get ideas for your own personalized responses. Are you more interested in long-term or short-term placements? - Best AnswersDescribe your ide al co-workers - Best AnswersDo you think a temporary job will be a good fit for you? - Best AnswersHow easily do you assimilate into a new environment? - Best AnswersHow would your colleagues describe your personality? - Best AnswersIf a permanent position became available, would you be interested? - Best AnswersWhat hours are you available? - Best AnswersWhat interests you about working a temp job? - Best Answers Would you be willing to work different shifts? - Best Answers Prepare for Common Interview Questions While you should prepare for your interview by practicing answers to the questions listed above, you also likely will be asked some common interview questions. Be sure to practice and prepare answers to both common interview questions and temp job interview questions.

Learn How to Start a Horse Boarding Business

Learn How to Start a Horse Boarding BusinessLearn How to Start a Horse Boarding BusinessIf youre interested in starting a horse-mainboarding business, youll first need to have extensive experience working with horses, or be willing to hire people that have the requisite experience. Having an experienced barn manager on staff is key for most boarding operations. The ideal horse boarding operator has a good reputation and background working with horses, trainers and owners. Choosing a Horse Boarding Site If the boarding location you pick doesnt already have proper facilities and equipment on site, you must be willing to add these items as needed. Boarding operations need to have at least one barn with stalls, safely fenced paddocks and fields, mowing equipment, a tractor, water troughs, a riding arena or trails, tack rooms and areas to store feed and bedding. A boarding stable must be in compliance with state and local regulations, such as maintaining a business license and operati ng in accord with the zoning regulations that apply to the specific piece of property. Its your responsibility as the owner/proprietor to research all the regulations and licensing requirements prior to opening your stable. Boarding stable owners should consider securing a liability insurance policy to protect against lawsuits that might result from any injuries occurring on the property. Most banks will require proof of such a policy before theyll lend any money toward the purchase or rehabilitation of any horse boarding facility. Horse Boarding Services and Staff Boarding stables usually offer some combination of full board, partial board, or pasture board services to clients. The full board usually includes a stall, turnout and all daily care such as feedings and stall cleaning. The partial board usually includes a stall, but the horse owner is responsible for daily care such as stall cleaning and turnout. Pasture board does not include a stall, but the horse is kept in a fie ld that often has some sort of shelter access such as a run-in shed. What types of board you offer will determine your staffing needs. Full-service boarding facilities require additional staff such as grooms and barn managers. Pasture board operations can get by with fewer staff members. Some boarding facilities specialize in catering to one particular discipline, such as English riding or Western riding, while others seek boarders from all backgrounds. Some facilities also choose to offer specialty care for stallions or horses in training. Build Reputation via Relationships It is important for the owner of a boarding facility to develop a relationship with a local farrier and equine veterinarian. These relationships are often mutually beneficial, as your farrier or vet may refer more clients to you down the road. It is also critical that you find good, reliable suppliers for quality hay, bedding, and grain. It may also be wise to develop an agreement with a riding instructor to offer lessons at your facility. This can increase overall interest in your facility and bring in a trainers established clientele to your location. Many boarders expect to have access to an instructor and riding arena. Price Your Services It is also critical that you price your facilitys services competitively. This will involve a bit of local market research, which you can easily accomplish via phone calls or the internet. You want to offer a good mid-range price, perhaps with some sort of initial discount or other incentives to get your first boarders in the door. It is also wise to develop a boarding contract outlining all services that will be provided and the type of board being established for their particular horse. This should be signed by the client at the beginning of the boarding relationship. You may also wish to outline additional services that may be available and the costs for those extra options. Advertise Your Horse Boarding Business In addition to the stan dard advertising online and in local print publications, try to advertise your boarding operation at local equine businesses such as tack shops, feed stores and show grounds. Large horse shows or other equine events often print up programs with local advertisers, and this is another great way to gain exposure. Over time, your best form of advertising will be referrals from satisfied clients. One happy customer can recommend you to dozens of friends and acquaintances in the equine industry.