... High employee turnover could be a sign of underlying problems, such as poor training, lax management or low employee morale. Much has been written this year about “the Great Resignation,” the trend of ...
... morale. Obviously, you don’t want to spend a lot of time or money on this, but a “lunch-and-learn” seminar or a series of quick meetings could prove effective and affordable. Here are some email management ...
... your company’s cash flow needs and plan accordingly, track your peak sales and production times over as long a period as possible. 2. Engage in careful accounting. Effective cash flow management requires ...
... or accounting department shouldn’t complete the budget alone. Seek input from key employees in every department and at various levels of management. For example, your sales department may be in the ...
... as payroll, accounts receivable and payable, supply chain management, HR and benefits, and on-site security. These systems are often cloud-based, meaning the information is stored online so users can ...
... it a beneficial risk-management tool. Purpose of coverage Specifically, stop-loss insurance protects the business against the risk that health care plan claims greatly exceed the amount budgeted to ...
... for his employer. Discourage employees from doing competitive intelligence on their own. Establish a formal policy, reviewed by an attorney, that includes ethics training and strict management oversight. ...
... of 45 days indicates that the company takes an average of one and one-half months to collect invoices. Promote profitability Liquidity and asset management are critical, but the bottom line is the ...
... to social and performance aspects of their new jobs quickly and smoothly,” according to the Society for Human Resource Management. Traditionally, a comprehensive onboarding program’s objective is to ...
... management team. All too often, managers become trapped in their own information silos and areas of focus. Consider asking everyone in a leadership position to submit ideas for growing the bottom line. ...
... times. Get management involved As is the case for many things in business, success starts at the top. Encourage your management team and fellow owners (if any) to regularly interact with customers. ...