Employee turnover can be a major burden on any organization in terms of both the human cost and the financial burden that comes along with turnover. Whether we’re talking about tangible factors like money spent recruiting and hiring or the lesser recognized expenses like the loss of institutional knowledge within a company, there is no doubt that there are…
AMB Performance Group Blog
Our Coaches pride themselves in being completely knowledgeable in regards to bringing you the latest and greatest in business growth options. We also take great pride in providing you with updates, news of interest, and tips to help you continue taking the wheel of your business and its success.
From handling workplace situations and team building to marketing and social media, you can find the answers you’re looking for to better your business and increase your knowledge base. We are always keeping an eye out for news, tools, and resources, so be sure to check-in frequently.
How to Retain Young Employees
Posted on April 18, 2022
Retaining high performers is likely one of your biggest goals – and concurrently one of your biggest challenges – as a business owner. With many boomers retiring in the wake of the COVID-19 pandemic, which hit the United States in 2020, millennials are being promoted into positions of power and are filling jobs formerly occupied by the generation known…
4 Elements of Employee Retention
Posted on April 14, 2022
How much does employee turnover cost US organizations? The short answer: a lot. It’s estimated that it costs about 1.5 to 2 times the employee’s salary to replace them. Let’s say you are heading a 100-person company with an average pay of $50,000 with an average rate of attrition. You could be looking at $600,000 - $2.6 million in…
Benefits of Retaining Employees
Posted on April 11, 2022
As a business owner, you know it is essential to staff your business with the best and brightest. We all know that attracting and retaining talented employees is a crucial feat, not just for operational efficiency, but also for unlocking the benefits of retaining employees like increased productivity, lower turnover costs, and a stronger company culture. Analyzing processes is…
What are the Job Interview Process Stages?
Posted on March 24, 2022
Attracting and retaining talent is one of your most critical tasks as a business leader. Arguably, it is the most important. Your employees are the faces of your company; they interact with your customers, with the public. They complete the necessary day-to-day tasks that keep the company running, and they also provide the promise of a successful tomorrow. As…
How to Retain Employees Without Money
Posted on March 22, 2022
You have heard it before… time and time again. The only way you can keep workers is to pay them more. Money talks. So the questions revolve around how to retain employees without money. Money doesn't have the most compelling voice. When it comes to elements of an employee retention plan, it's important to think beyond dollar signs.Â
How to…
Disadvantages of High Employee Turnover
Posted on March 16, 2022
Constant turnover at work is more than a nuisance or an inconvenience. It is a one trillion dollar per year problem in the United States. The cost of replacing an employee can be as high as 1.5 to 2 times their salary when you include resources spent advertising the position, screening applicants, interviewing candidates, conducting background checks, and onboarding…
Creating an Employee Retention Plan
Posted on March 14, 2022
Let's talk about how to build an employee retention plan. When you think of your company’s most valuable assets, what comes to mind? When you consider what makes your business successful, do you mentally review a spreadsheet of property holdings, intellectual property, equipment, technology? Or do you think of people? If so, you’re on the right track. Your employees…
Challenges in Attracting and Retaining Employees
Posted on March 10, 2022
Your people are the biggest asset you have when it comes to running a viable business today and positioning it for success going forward. They are the ones who make day-to-day magic; who serve customers; who act as the face of your company; who make the contributions that make a bottom-line difference. Challenges in attracting and retaining employees can…
5 Benefits of Employee Retention
Posted on March 08, 2022
Team cohesion. Workplace environment. Time. Money. The benefits of employee retention are many and varied. Not only does it have a significant impact on the very culture and atmosphere of a company (it’s hard to love your job when you never know who’s going to be sitting across from you month to month), it has a very real effect…
