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Posts Tagged ‘Workforce’


Employees Are Feeling Confident. Will It Help or Hurt Your Business?

May 25th, 2012 ::

By Rieva Lesonsky

Employees are feeling better about themselves, their workplaces and the job market in general, according to a recent study by HR and staffing firm Randstad, reported in BenefitsPro. Will their happier outlook mean good news—or bad—for your business?

The survey found 75 percent of U.S. workers feel greater job security, which is a positive sign for small businesses. Also positive: 74 percent say they are proud to work for their current companies, 78 percent feel inspired to do their best work every day, and 68 percent enjoy going to work—up 3 percent from the prior survey in March.

However, these positive attitudes could have negative fallout for employers, as 54 percent of employees believe the job market will turn around this year. While they’re not quite ready to jump ship—58 percent say they don’t think they could find a better job right away—45 percent of U.S. workers say they plan to consider their options once the employment picture improves.

The survey concludes that increased confidence means employers have a chance to re-engage and energize their employees. But it’s also important to treat them right, as newly confident employees are seeking more rewards in order to stay in their current jobs. For example, just 20 percent say they would accept reduced benefits in order to keep their jobs, and only 10 percent say they would accept a demotion.

What does it all mean to you? If you’ve been expecting employees to do more for less since the recession began, now may be the time to ease up so you don’t lose their goodwill. If you still can’t quite afford to offer monetary rewards such as bonuses or raises, figure out other ways you can reward employees that don’t require an outlay of cash. Extra time off, flexible hours, fun activities or other unpaid benefits can keep your team energized and happy to be working for you–even as the economy improves.

Image by Flickr user enokson (Creative Commons)

 

 

The Best (and Worst) States for Small Business

May 24th, 2012 ::

By Maria Valdez Haubrich

Are you considering moving or expanding your business? Then you might want to get out your ten-gallon hat. A recent survey to uncover the most small-business-friendly states, conducted by Thumbtack and The Kauffman Foundation, found Texas and Idaho ranked highest overall.

The 2012 Thumbtack Small Business Survey polled 6,000 small business owners nationwide about conditions in their states including:

  • Ease of starting a business
  • Hiring costs
  • Regulations
  • Training and networking programs available
  • The region’s current economic health

You might be surprised to find that taxes weren’t the only—or even the most important—factor small business owners cared about. Easy-to-understand licensing regulations and helpful training programs were also seen as critical in creating a small-business-friendly environment. In fact, Small businesses said licensing requirements were nearly twice as important as tax-related regulations in determining their state or city government’s overall business-friendliness.

Here are some of the findings:

  • Texas had three of the top five cities (Dallas, San Antonio and Austin), while California was home to the bottom three (Los Angeles, San Diego and Sacramento).
  • Colorado Springs and Washington, DC, had the nation’s healthiest small businesses.
  • Idaho, Nevada and Delaware had the most small business-friendly tax codes; California and New Mexico had the least-friendly tax codes.
  • Nebraska small business owners were the most optimistic about their business improving during 2012, while Iowans were the least optimistic.
  • The South was the most small-business-friendly region of the country, while New England was rated the most hostile.

View the full survey results, including state-by-state breakdowns, here.

Image by Flickr user cote (Creative Commons)

How to Treat Your Interns Right

May 23rd, 2012 ::

By Rieva Lesonsky

The end of the school year is here, and that means it’s time for many small businesses to turn to a valuable labor source: interns. Hiring college students to work in your business, learning the ropes, is a rite of passage for students and small business owners alike, and can give you access to the energy, enthusiasm and tech skills of young people who can contribute a lot to your business.

But a growing number of companies, emboldened by the recession, are taking more than they’re giving from their interns. The New York Times recently reported on the growing practice of companies offering unpaid internships, having interns work 12 hours or more and using them solely for “grunt work” like fetching lunch and filing.

These aren’t just college students, either. The Times reports a growing number of college graduates are clamoring for internships in a tough labor market where the jobless rate for college grads age 24 and under is now 9.4 percent.

Are you exploiting your interns? Yes, entry-level work has always involved some degree of fetching and carrying, but if your internships aren’t offering anything of value, you could be running afoul of the law.

The major area to consider is whether your internships are paid or unpaid. State labor laws regulate this, so you first need to determine whether your state requires paying interns. If your state does allow unpaid internships, you also need to comply with federal Labor Department regulations.

In general, this means that:

  • Unpaid interns must gain some type of vocational education from the internship.
  • The internship is for the benefit of the interns.
  • Interns can’t be used as substitutes for regular employees; instead, they have to be supervised by employees.
  • The employer cannot derive immediate benefit from the intern’s work.

An unpaid internship may seem like a lot of trouble for you in the beginning, but if you handle it right, you can end up training someone who could become a valuable employee in the future. Stay on the right side of the law, and your company will be a desirable place for interns. Run afoul of the law, and you could ruin more than your business’s reputation.

Image by Flickr user Jessica Mullens (Creative Commons)

 

How to Hold Effective Online Meetings

May 15th, 2012 ::

By Thursday Bram

Being able to hold a meeting when the attendees are scattered all over the globe has changed the face of business. You can take on international clients or choose manufacturers in other countries with relative ease. You don’t even need to calculate the long-distance charges anymore: with cloud-based software, holding a meeting, even when you need to share large files, can be free.

But there are certain steps that you need to take to make sure that you have just as useful a meeting online as you would have if you were talking to the meeting attendees face to face. Cloud-based applications continue to evolve, as do the ways we use them, so you need to make sure that you’re up to date.

  1. Test your technical solutions: Technology is wonderful and offers us a lot of easy solutions for holding meetings online — but it doesn’t always perform perfectly. Test the tools you plan to use in advance, preferably with a similar load to what you expect during your meeting. You may not need to conduct tests after you’ve ran a few meetings with a particular piece of technology, but keep an alternative ready, just in case a particular site goes down.
  2. Write out directions for joining the meeting: If your tool of choice does not offer a step-by-step guide to joining a meeting that you can point attendees to, you need to create one of your own. There are a few exceptions: if you choose a solution that just requires attendees to open an app on their tablet or computer and then click the appropriate meeting, you may not need such detailed instructions. But the easier you can make it for attendees to join the meeting , the more likely you are to see things go off without a hitch. Your directions should also include other crucial details, like what time zone the meeting date is set in.
  3. Keep your data under control: One of the benefits to a meeting where everyone shows up in person is that any information that isn’t intended to be made public is a little easier to control — the only potential problem was if someone chose to repeat it. But with many cloud-based technologies, once you share a document, it’s tough to get it back. Make sure you choose a tool like Anywhere Pad that describes its options for controlling access to documents and presentations clearly.
  4. Set an agenda and stick to it: Some people have the bad habit of opening up their meeting in one window and working on something else in another window, so you need a way to keep everyone on track. Other potential issues, like people joining your meeting late or having a connection drop, make an agenda just as important as it was for in person meetings. The best practice is to write up the agenda and send it out in advance, as well as keep it up on the screen during your meeting when you’re not looking at other documents or a presentation. It’s worth sending out a follow up document, as well.
  5. Offer a back channel for the meeting: With a distributed audience, it can be harder for your attendees to catch someone after the meeting to confirm details or ask questions. By offering a way to have private messages or chat while the presenter is speaking, the people attending your meeting can make sure they have all the information they need. You may see an increase in interactions in the meeting, as well.

The etiquette for managing an online meeting isn’t yet carved in stone. You can make the changes necessary to ensure that your meetings accomplish everything they need to. But you do need to take the constraints of operating in the cloud into account. These steps can help you make minor modifications that can have big impacts.

Thursday Bram is a writer for Anywhere Pad.

Image by Flickr user Jessica Mullen (Creative Commons)

How to Cross-Train Your Employees

May 10th, 2012 ::

By Maria Valdez Haubrich

You may have heard of cross-training in regard to fitness, but do you know what cross-training can do for your business? When it comes to employees, cross-training simply means training your team to do more than one job. Cross-training has many benefits, both for you and your employees. Here are a few:

  • Employees gain new skills and feel a sense of accomplishment
  • Employees get better at their jobs when they have to train others to do them
  • You have better coverage when employees are absent or ill
  • Your workforce becomes nimbler and more flexible
  • Your company can provide better service to clients and customers

All of these sound like pretty good things, right? So how do you effectively cross-train employees and where do you start?

Begin by choosing the proper time to implement cross-training. This isn’t something you’ll want to throw at your team during their busy season or most frantic time of the day. Choose an opportunity when there is some downtime so the team can focus on cross-training without worrying about their regular duties. Depending on your business, this might mean cross-training for an hour a day, or doing an intensive cross-training week during the slow season.

Decide who learns what. Employees in the same departments are naturals to learn each others’ jobs. Or you may want employees in different departments, but with related duties, to learn each others’ jobs.

Explain the concept and its value. Some employees may be less than enthusiastic about cross-training because they’ll feel like you’re giving them more work without commensurate pay. Others will feel like it’s an excuse to slack off because someone else will be able to handle their jobs. Explain that this is an opportunity to learn new skills and become more valuable to the company. You want employees to be excited about the concept, so explain how it will benefit them.

Put systems in place and oversee the process. Not all employees are naturals at training, so give everyone a basic system to follow, such as showing them how to create a written “cheat sheet” for key tasks. You’ll also want to observe the training and step in where necessary. Make sure employees get plenty of time to practice their new roles, and give lots of feedback.

Make it ongoing. Hold regular refreshers so employees keep their skills up to date. Also do new cross-trainings when procedures change. Emphasize that learning is continuous and you’ll get more from your staff.

Image by Flickr user aflcio (Creative Commons)

 

 

 

 

HealthCare.gov: Health Insurance Finder Tool: Small Business Resource

May 7th, 2012 ::

HealthCare.gov’s Health Insurance Finder

Created in response to the health insurance reform law, the Affordable Care Act, the HealthCare.gov Health Insurance Finder tool will make it easier for businesses, individuals and families to find affordable health care options. The site is super user-friendly and gives the user a wide variety of options to compare. Watch the Small Business Health Finder video for visual help on how to find the right insurance for your business. Enter in how many employees you have, your ZIP code, what you want the copay to be and some other specifics, and the site narrows your choices for public or private insurance options.

How to Save Money on Your Business’s Health Insurance

May 1st, 2012 ::

By Karen Axelton

Are you struggling with the high cost of health insurance in your business? It seems like every year, premiums go up without fail. Fortunately, there is one way to decrease your costs that could also increase your team’s productivity, satisfaction and happiness: offering wellness programs and incentives.

AccountingWeb recently rounded up the results of several surveys of health and wellness programs in the workplace. WORKING WELL: A Global Survey of Health Promotion and Workplace Wellness Strategies found that 45 percent of companies who measured the results of their wellness programs found that such programs reduced overall healthcare costs. A survey by Highmark Inc. that analyzed wellness programs over a four-year period found companies that had wellness programs saved an average of $332 per participant.

A Department of Health and Human Services Report done in 2010 found that 75 percent of the $2.5 trillion spent on health care each year in this country goes to treat preventable conditions. So it only makes sense that preventing health problems before they arise through wellness programs would decrease health care costs.

Beyond the costs savings, offering wellness or fitness programs to your employees can have benefits including better employee morale, greater productivity, fewer sick days, less turnover among employees and greater success in attracting qualified employees.

What do employees say? According to AccountingWeb, employees whose companies offer wellness programs say they not only have more energy and feel healthier, but also feel more valued by their employers and more bonded with their co-workers.

How can you incentivize employees to stay healthy and well?  AccountingWeb reports that some of the most popular incentives include:

  • Access to such as cholesterol screening, smoking cessation programs and nutrition counseling.
  • Access to fitness programs such as gyms, exercise classes or yoga classes
  • Discounts on health club memberships
  • Healthy snacks at the office such as providing fresh fruit instead of donuts at meetings, or catering healthy dinners instead of pizza when employees work late
  • Holding wellness-related events such as brown-bag lunches where experts come in to talk to the team about health and fitness
  • Offering health-related perks or rewards such as gift certificates for spa treatments or massages

Of course, some of these incentives are easier than others for small companies to offer. Start by checking with your health insurance provider to see what types of fitness and wellness incentives or educational programs they offer. Even if you can’t get your employees free membership in a health club, you may be able to work out some type of discount or set up a barter system where your business barters services in return for discounts on memberships. Also consider teaming with other small businesses to attract health educators to speak at your companies or provide on-site massage, yoga or relaxation classes.

Last, but not least, remember that you need to set the example. Hold “walking meetings,” encourage employees to use their lunch hours to work out or take a walk, and support healthy habits. The results will pay off for you, your team—and your business’s bank account.

Image by Flickr user Mimar Sinan (Creative Commons)

Small Business Hiring Is Up, Study Shows

April 19th, 2012 ::

By Maria Valdez Haubrich

Is your small business getting ready to hire? Looks like plenty of them are. Small business created about 65,000 new jobs in March—the highest single-month growth rate in more than two years, according to the Intuit Small Business Employment Index, which measures employment trends among businesses with 20 or fewer employees.

The March Index showed small business employment increasing at an annual growth rate of 3.8 percent. The average monthly hours worked also rose by 0.5 percent, or 36 minutes, and average monthly compensation increased by 0.7 percent, or $18 per worker, to $2,785 in March or about $33,400 per year.

“This is the strongest small business employment report we have had in a long time,” said Susan Woodward, the economist who works with Intuit to create the Index. “Yet at the same time, the hiring rate has remained flat at just above 5 percent since May 2009.”

Woodward says this indicates that small business employees are staying with their current employers, rather than leaving for bigger firms. In the typical economy, the turnover at small firms is higher than at larger ones because small companies usually pay less. But Woodward says the turnover rate is still lower than normal, indicating “we are not out of the woods yet.” The compensation figures, too, indicate many employees at small businesses are still working only part-time.

Still, the positive numbers continue a trend that Intuit has been seeing for several months. February’s small business job growth rate was 0.4 percent, or 75,000 jobs added at small businesses that month, and January also saw 0.4 percent growth. In fact, jobs, hours worked and compensation have all been climbing steadily since last July.

Overall this month, job growth was strongest in the Mountain, West South Central and East South Central regions of the country, along with the Pacific Northwest. Woodward says hiring is also beginning to pick up in New York.

Image by Flickr user bpsusf (Creative Commons)

 

 

How Businesses Will Handle Rising Health Insurance Costs

April 18th, 2012 ::

By Rieva Lesonsky

It remains to be seen whether all or part of President Obama’s Patient Portability and Affordable Care Act (PPACA) will be struck down by the Supreme Court, and how any changes to the law would affect small business owners.  But as we wait to hear the Court’s ruling, one thing is certain: The cost of providing health insurance is going up. Unless you’ve got money to burn, this is a concern. How can your small business contain the rising costs?

Towers Watson/National Business Group’s annual survey of how large businesses about how they are handling the rising cost of health insurance offers some insights that can help small companies, too. Here’s what you can expect for 2012 and beyond:

There’s good news and bad news. Health care costs are increasing, but at least the rate of increase is fairly stable—5.9 percent in 2012 as opposed to 5.4 percent last year. The average cost per employee of providing health insurance will reach $11,664 in 2012, up from $10,982 last year.

Both employees and employers are sharing the burden of these cost increases. Employees’ share of costs have increased 40 percent compared to five years ago, while employers’ share of costs has increased by 34 percent.

What are employers doing to keep costs from spiraling out of control? In general, big businesses in the survey were planning some big changes to their health care benefits in the coming years. The key trends:

  • 40 percent are focusing on developing a company culture where employees are accountable for their own health.
  • 40 percent are focusing on reviewing their overall benefits mix.

Making Employees Responsible: Companies that encourage employees to take accountability not only for their health but also for the cost of the health care services they use have had a much lower increase in their average health-care cost—just 2.2 percent over the past four years. These companies are providing employees with more information about the costs of different choices, restricting access to narrower networks of providers, and providing incentives to promote healthy lifestyles.

More than two-thirds of respondents in the survey already offer incentives, but in the future, companies say they are more likely to add penalties for unhealthy behavior. (Twenty percent of respondents already use penalties.)

Reviewing Benefits Mix: With the future of the PPACA still uncertain, 34 percent of companies are closely monitoring the outcome of the court’s decision and focusing on compliance. The current options for employers under the PPACA include discontinuing health insurance for employees, offering insurance to only part of your staff, or giving employees a defined contribution they can use to purchase insurance from state Exchanges.

The survey found just 3 percent of employers are somewhat to very likely to discontinue health care plans for active employees in 2014 or 2015 without providing a financial subsidy. But 45 percent of employers are somewhat to very likely to offer coverage to only a portion of their workforce and direct the others to buy insurance through Exchanges.

Other tactics businesses will use to cut costs include increasing employee contributions for dependent or spousal coverage, and adding Account-Based Health Plans (ABHPs) that enable employees to put aside money for health care costs. Fifty-nine percent of companies currently offer an ABHP today, and 11 percent plan to do so next year.

What tactics will you use to keep costs of health coverage low?

Image by Flickr user Images of Money (Creative Commons)

Small Biz Resource Tip: AssistMatch

April 17th, 2012 ::

AssistMatch

What entrepreneur couldn’t use a little more support with day-to-day activities? Hiring sounds grand, but finding the right person and finding space in your office—that’s another story altogether. AssistMatch is a unique temp service that will find you virtual workers who can assist you with your needs from their own fully equipped home offices. AssistMatch virtual assistants have extensive skills in administrative and executive duties and can even answer your phone and send faxes for you—all virtually. You pay only for the time they work for your company, and your don’t have to worry about employer taxes or filing any employee paperwork.