According to a study performed by Columbia University, the average cost to replace a worker in the U.S. is his or her annual salary. If an employee earns $45,000/year, then it would cost the company roughly $45,000 to find, hire and train a replacement. The good news is that business owners can help reduce the need for locating “replacements” starting with Employee Loyalty Improvements in the workplace. Among other things, loyal employees are less likely to look for a new job, which saves the company money and time. Continue reading →

Still haven’t jumped into an employee recognition program? Some business owners wrongfully assume that employee recognition isn’t worth the investment. Unfortunately, though, this only ends up hurting their business in the long run. Overlooking or turning a blind eye to your employees can severely affect your business in several ways. Continue reading →