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September 22, 2016 by
aliereadvisors

PART ONE:

Employee engagement. That simple phrase can have countless meanings. For each company, the struggle is unique. Many times it baffles you, the business leader. There’s no need to continually apply this undue pressure on yourself. That’s the beauty of a PEO, which can form a unique connection to each of your employees and their specific needs.

While overwhelming for a manager or small business owner, professional employment organizations can easily (and for a relatively low cost) assess your current situation and implement the right strategies and techniques to encourage each of your workers to pragmatically focus and work productively.

If your company is currently struggling with any of the following issues, your management team might be due for a meeting on employee engagement:

  • Productivity
  • Customer ratings
  • Profitability
  • Safety incidents
  • Turnover Increase
  • Absenteeism
  • Shrinkage

The good news is, you don’t have to try to solve these problems on your own. It’s a daunting task, one that you simply don’t have time to handle. We understand the stress and magnitude of running a business, and that’s what we’re here for, to take some of the weight off of your shoulders.

Let’s review the scenarios mentioned above, and how a PEO team can not only solve the problems but boost the constructive elements of employee engagement to their highest possibility in your corporation.

There are many sides to each tier found below, one often having a domino effect on the other. All are, in a sense, intertwined to one another. The center of each, while not always immediately evident, is your employees and their welfare, which is what a PEO is there to guarantee.

Productivity

By reducing your staff’s workload (through additional PEO benefits), it will allow them to spend time on the facets of your company for which they were hired, leaving the arduous insurance work to HR specialists, even taking the burden of 401(k) management off you and your employee’s hands.

Furthermore, by using a PEO to hire additional/replacement employees, you’ll be equipped with top-of-the-market professionals, which will, inherently, increase productivity among other workers currently lagging behind.

Customer ratings

Are you struggling to attain high ratings among new clients? Are your Google search levels drastically plummeting, despite attempts to revive them through SEO methods?

Chances are, at the base of the issue is customer satisfaction. Some underestimate the importance of a single frustrated customer, when in reality, they can have all the impact in the world.

More often than not, an unsatisfied client can be appeased by stellar customer service. Most of the time, it takes only a smiling and understanding face to show the buyer they’ll be taken care of and have no need to worry or leave behind a bad report.

But the trick lies in having that smiling employee to take care of them.

So, if your customer ratings are dropping, it probably has something to do with your employee satisfaction, not just your buyer satisfaction.

PART TWO:

Profitability

less customers = less sales = less profit

Customers are the foundation of every corporation. Without them, there’s no hope for success or profitability. Along the same lines as customer ratings, if your employees aren’t happy, you can be sure they aren’t delivering proper customer service, which, by every measure, affects your sales and profit.

Safety incidents

Workman’s comp. If you’re an independent business owner, multiple safety incidents can ruin any hope of a successful business year. Who’s responsible for safety compensation? You are. Even with general liability coverage. That’s a dreadfully scary thought, considering how expensive compensation can be. Finding a company that fully covers safety incidents is crucial to the progression of your business.

With a PEO, you’ll not only be adequately insured to handle workman’s compensation, but you won’t have to touch a thing. It’s all left to the professional HR managers. With that headache gone, you can then focus on the important aspects of running your business.

Turnover Increase

Turnover increase is a serious problem that must be addressed. Luckily, it’s one of HR’s specialties. Although seeing employees leave can be disheartening at times, there are several plausible benefits.

First, with the help of a PEO, you can hire accomplished, capable representatives fitted to your niche. Secondly, by ridding your business of troublesome workers, their influence and mood can no longer affect others in the office.

These are just a few perks, although overall turnovers can be dangerous. With the help of a PEO, you can not only decrease this rate but also maximize the opportunity for hiring new employees.

Absenteeism

In former days (or even now), you might remember waking up with a smile on your face, then, after quickly realizing the day ahead of you, that smile vanishing. It’s a horrible feeling, dreading your job. I’m sure it’s one to which we can all relate.

Ask yourself, is that how employees of your business feel? If there’s any doubt in your mind, then you have a definite problem on your hands.

What happens when employees dread coming to work? Absenteeism.

Excessive sick leaves. Begging for extra vacation days. Always late in the morning, always trying to leave “just a few minutes early”.

Absenteeism can take a toll on your business. Paying employees who aren’t doing their job? That’s something no business can afford.

Shrinkage

Shrinkage, in terms of inventory loss, has been known to take place in even the most esteemed of companies. A few of the primary causes include, but are not limited to: employee theft, shoplifting, administrative error, vendor fraud, damage in transit or storage, and cashier errors that benefit the customer.

Three of those issues deal directly with staff-related matters. Some, while unintentional, all the same lie within employee engagement.

Along the same lines as productivity, if workers dislike their job, it’s easy to find distractions. Distraction often leads to careless mistakes (such as cashier/secretarial errors), which inevitably lends itself to unwanted shrinkage.

If you don’t have any of these issues, consider yourself blessed. At one point or another, they arise in every business. Don’t be complacent. An ounce of prevention is worth a pound of cure.

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