{"id":17959,"date":"2023-10-18T22:21:42","date_gmt":"2023-10-18T22:21:42","guid":{"rendered":"https:\/\/mysourcefunding.com\/startups\/employee-retention-a-worthwhile-long-term-investment\/"},"modified":"2023-10-18T22:21:43","modified_gmt":"2023-10-18T22:21:43","slug":"employee-retention-a-worthwhile-long-term-investment","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=17959","title":{"rendered":"Employee Retention: A Worthwhile Long-Term Investment"},"content":{"rendered":"
\n

Sean Manning is CEO and Founder of <\/em>Payroll Vault<\/em> Franchising LLC, as well as a CPA and Thought Leader in the Financial Field.<\/em><\/p>\n

A lot of elements go into the growth and prosperity of a business: time, effort, knowledge and money, to name a few. Many of these elements come from those who run the business and serve the customers\/clients. As the founder of a payroll service franchise that specializes in serving small businesses, I can say from experience and observation that having a loyal, dedicated team for a business is a vital component of its longevity. But how does retaining employees help keep a business afloat, and how can an employer keep them satisfied?<\/p>\n

The Cost Of Dissatisfied Employees<\/h2>\n

It probably comes as no surprise that the COVID-19 pandemic has had a huge impact on the workplace. Numerous companies had to switch to hybrid or fully remote working very quickly, and as a result, many employees found they preferred the change in work environment. When it came time to return, there was a push to retain the \u201cnew normal\u201d of hybrid or fully remote work, something that not all companies were willing to consider.<\/p>\n

As much as some employees have found they prefer a hybrid or fully remote work arrangement, job engagement is a bigger factor. An employee\u2019s sense that their effort is valued and that they\u2019re accomplishing something with their work can increase fulfillment and encourage a sense of loyalty and dedication. Feeling engaged at work is 3.8 times as influential on employee stress as their work location. In other words, while some employees might prefer to work from home, they don\u2019t mind the trip to work if it\u2019s to a job they feel has value.<\/p>\n

<\/fbs-ad><\/p>\n

The result of this, combined with a variety of other factors like rising costs of living and shifting priorities, has many employees feeling dissatisfied with their current jobs and checking out job listings. Gallup\u2019s 2023 State of The Workplace report shows that 6 out of 10 surveyed employees in 2022 were engaging in \u201cquiet quitting,\u201d where employees don\u2019t feel invested in their jobs and do the bare minimum to get by.<\/p>\n

Satisfied employees are loyal employees who are much more likely to stick by the company. Some employers may think that a high turnover rate isn\u2019t an issue if they can hire new people. However, there are downsides to refilling positions. When a long-time employee quits or retires, their employer loses the experience and familiarity that this employee brought to the company.<\/p>\n

A new hire has to be trained, go through a learning period and get familiar with their coworkers. If it\u2019s a position that involves direct customer service, they\u2019ll need to get to know your customer base and develop a rapport with the regulars. A constantly shifting workforce may also lead to a staff that doesn\u2019t develop a team spirit because their coworkers aren\u2019t likely to stick around long, which can affect how well they work together.<\/p>\n

Satisfaction Provides Stability<\/h2>\n

We\u2019ve established that a loyal staff is a valuable asset, so how can an employer encourage employees to stay and feel engaged with their jobs?<\/p>\n

\u2022 Recognize employees for their hard work and productivity.<\/p>\n

\u2022 Research the industry average pay for various positions and stay competitive with other companies that may be hiring.<\/p>\n

\u2022 Communicate with staff members happy to find out what they want from their jobs. From one-on-one discussions between supervisors and employees to company-wide surveys, listening to staff makes many of them feel valued and respected, even if not every request can be granted.<\/p>\n

\u2022 Compensate staff in different ways. Benefits such as a good health care plan, use of company vehicles, and a retirement fund can encourage employees to stick with the company through the tough times.<\/p>\n

\u2022 Look at existing staff when positions open and offer promotions to those who are interested. Career advancement matters to ambitious employees. This can encourage employees to not only stick with their company but to also go the extra mile and develop the skills that make them good candidates to become the next supervisor or whatever position is next up the company ladder for them.<\/p>\n

\u2022 Offer training opportunities to pick up useful career skills. This can encourage ambition and show employees the company is willing to invest in their future.<\/p>\n

\u2022 Establish perks and flexibility. This can make a company a place employees want to stick with. From hybrid or remote work options to wellness packages or fitness reimbursements, sometimes the little luxuries that take the edge off workplace stress can make all the difference to an employee.<\/p>\n

A loyal, dedicated staff is a solid framework for building a company\u2019s future. With an experienced team that works well together, sharing the load, mentoring newcomers and aspiring to improve themselves, a business can grow with the seeds of profits and successes and persevere through the difficult times, remaining standing when other companies fall.<\/p>\n

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sean Manning is CEO and Founder of Payroll Vault Franchising LLC, as well as a CPA and Thought Leader in the Financial Field. A lot of elements go into the growth and prosperity of a business: time, effort, knowledge and money, to name a few. Many of these elements come from those who run the […]<\/p>\n","protected":false},"author":1,"featured_media":17960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[77],"tags":[],"class_list":{"0":"post-17959","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-startups"},"yoast_head":"\nEmployee Retention: A Worthwhile Long-Term Investment | Brandiary<\/title>\n<meta name=\"description\" content=\"Sean Manning is CEO and Founder of Payroll Vault Franchising LLC, as well as a CPA and Thought Leader in the Financial Field. A lot of elements go into\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mysourcefunding.com\/?p=17959\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Employee Retention: A Worthwhile Long-Term Investment | Brandiary\" \/>\n<meta property=\"og:description\" content=\"Sean Manning is CEO and Founder of Payroll Vault Franchising LLC, as well as a CPA and Thought Leader in the Financial Field. A lot of elements go into\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mysourcefunding.com\/?p=17959\" \/>\n<meta property=\"og:site_name\" content=\"Brandiary\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-18T22:21:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-18T22:21:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/10\/1697667702_0x0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"823\" \/>\n\t<meta property=\"og:image:height\" content=\"548\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=17959#article\",\"isPartOf\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=17959\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4\"},\"headline\":\"Employee Retention: A Worthwhile Long-Term Investment\",\"datePublished\":\"2023-10-18T22:21:42+00:00\",\"dateModified\":\"2023-10-18T22:21:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=17959\"},\"wordCount\":854,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mysourcefunding.com\/#organization\"},\"articleSection\":[\"Startups\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mysourcefunding.com\/?p=17959#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=17959\",\"url\":\"https:\/\/mysourcefunding.com\/?p=17959\",\"name\":\"Employee Retention: A Worthwhile Long-Term Investment | Brandiary\",\"isPartOf\":{\"@id\":\"https:\/\/mysourcefunding.com\/#website\"},\"datePublished\":\"2023-10-18T22:21:42+00:00\",\"dateModified\":\"2023-10-18T22:21:43+00:00\",\"description\":\"Sean Manning is CEO and Founder of Payroll Vault Franchising LLC, as well as a CPA and Thought Leader in the Financial Field. A lot of elements go into\",\"breadcrumb\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=17959#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/mysourcefunding.com\/?p=17959\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=17959#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/mysourcefunding.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Employee Retention: A Worthwhile Long-Term Investment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/mysourcefunding.com\/#website\",\"url\":\"https:\/\/mysourcefunding.com\/\",\"name\":\"Brandiary\",\"description\":\"Latest Business and Startup News and Updates\",\"publisher\":{\"@id\":\"https:\/\/mysourcefunding.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/mysourcefunding.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/mysourcefunding.com\/#organization\",\"name\":\"Brandiary\",\"url\":\"https:\/\/mysourcefunding.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png\",\"contentUrl\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png\",\"width\":381,\"height\":100,\"caption\":\"Brandiary\"},\"image\":{\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png\",\"contentUrl\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/mysourcefunding.com\"],\"url\":\"https:\/\/mysourcefunding.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Employee Retention: A Worthwhile Long-Term Investment | Brandiary","description":"Sean Manning is CEO and Founder of Payroll Vault Franchising LLC, as well as a CPA and Thought Leader in the Financial Field. A lot of elements go into","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mysourcefunding.com\/?p=17959","og_locale":"en_US","og_type":"article","og_title":"Employee Retention: A Worthwhile Long-Term Investment | Brandiary","og_description":"Sean Manning is CEO and Founder of Payroll Vault Franchising LLC, as well as a CPA and Thought Leader in the Financial Field. A lot of elements go into","og_url":"https:\/\/mysourcefunding.com\/?p=17959","og_site_name":"Brandiary","article_published_time":"2023-10-18T22:21:42+00:00","article_modified_time":"2023-10-18T22:21:43+00:00","og_image":[{"width":823,"height":548,"url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/10\/1697667702_0x0.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mysourcefunding.com\/?p=17959#article","isPartOf":{"@id":"https:\/\/mysourcefunding.com\/?p=17959"},"author":{"name":"News Room","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4"},"headline":"Employee Retention: A Worthwhile Long-Term Investment","datePublished":"2023-10-18T22:21:42+00:00","dateModified":"2023-10-18T22:21:43+00:00","mainEntityOfPage":{"@id":"https:\/\/mysourcefunding.com\/?p=17959"},"wordCount":854,"commentCount":0,"publisher":{"@id":"https:\/\/mysourcefunding.com\/#organization"},"articleSection":["Startups"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/mysourcefunding.com\/?p=17959#respond"]}]},{"@type":"WebPage","@id":"https:\/\/mysourcefunding.com\/?p=17959","url":"https:\/\/mysourcefunding.com\/?p=17959","name":"Employee Retention: A Worthwhile Long-Term Investment | Brandiary","isPartOf":{"@id":"https:\/\/mysourcefunding.com\/#website"},"datePublished":"2023-10-18T22:21:42+00:00","dateModified":"2023-10-18T22:21:43+00:00","description":"Sean Manning is CEO and Founder of Payroll Vault Franchising LLC, as well as a CPA and Thought Leader in the Financial Field. A lot of elements go into","breadcrumb":{"@id":"https:\/\/mysourcefunding.com\/?p=17959#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mysourcefunding.com\/?p=17959"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/mysourcefunding.com\/?p=17959#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mysourcefunding.com\/"},{"@type":"ListItem","position":2,"name":"Employee Retention: A Worthwhile Long-Term Investment"}]},{"@type":"WebSite","@id":"https:\/\/mysourcefunding.com\/#website","url":"https:\/\/mysourcefunding.com\/","name":"Brandiary","description":"Latest Business and Startup News and Updates","publisher":{"@id":"https:\/\/mysourcefunding.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mysourcefunding.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/mysourcefunding.com\/#organization","name":"Brandiary","url":"https:\/\/mysourcefunding.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/","url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png","contentUrl":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png","width":381,"height":100,"caption":"Brandiary"},"image":{"@id":"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/image\/","url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png","contentUrl":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png","caption":"News Room"},"sameAs":["https:\/\/mysourcefunding.com"],"url":"https:\/\/mysourcefunding.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/17959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17959"}],"version-history":[{"count":1,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/17959\/revisions"}],"predecessor-version":[{"id":17961,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/17959\/revisions\/17961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/media\/17960"}],"wp:attachment":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}