Costs of Losing the Best People

Why don't employers see the huge CASH cost of losing their best people, and give them what they need to stay?

Employers spend a lot of extra money when they lose their best people. Here are some of the incremental hard costs:
- Training costs for a new person
- Recruiting costs

Even bigger are the "hidden" costs:
- Employer's time to recruit
- Lost productivity
- Emotional cost to the team

What would it take to keep the best people?
1. Ask them. They'll tell you.
2. Some money. Less than replacing them.
3. Recognition. Get creative and see #2.
4. Bonus idea: Reward them with something that benefits their significant other and/or family.

Back to the cold hard cash facts. Studies show it costs you 33% of someone's annual salary to replace them. You can keep people for a lot less.

Am I right? Wrong? What's your experience?

Let me know in the comments below.

#wtcfg #humanresources #finance

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Cash Flow Management Software

If you are interested in learning more about cash flow management, then you should follow Barb EasterBlaine Bertsch, and Jeremy (JD) Burke from Dryrun - Cash Flow Management Software. These hyperlinks will take you to their LinkedIn pages.

Why would I recommend you follow someone else and not spend all of your cash flow time on my posts and articles?

A few reasons:
1. They have a great point of view

2. They work with end-users and finance professionals from all over the world

3. DryRun is the best cash flow management software I have seen so far for businesses over about $1 Million in revenue

4. They are educating the marketplace

I'd love feedback on what you think about DryRun software.

Do you use cash flow management software? Or spreadsheets?

If so, I'd love to hear your opinion on your software or why you use spreadsheets.

What do you like? What doesn't work? What else do you need?

Let me know in the comments below!

#tcmp #finance #bestadvice

*I am not...

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Strategic Action Plans

Strategic Action Plans

You know where you are today. You know where you want your business to go. So why is it so hard to change?

Because making real changes in a business takes big, bold shifts in actions, attitudes, and thinking.

You know all of that, so why is it STILL so hard to make changes?!

Because most business owners and managers are so busy working on the day-to-day challenges of running an ongoing business that it is next to impossible to focus on the work needed to create change.

Strategic action plans identify the changes that need to be made in a business and then break them down into achievable tasks that can be accomplished in 1-2 weeks. Most of the time an individual task doesn’t make a major change in a business. But ask yourself, ”What would happen to my business if every week I can implement just two small changes that would move my business in the direction of my ultimate goal?”

Two changes a week would mean 26 changes for your business in the...

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