How to take control of employee turnover
According to the U.S. Bureau of Labor Statistics, the national quit rate (the percentage of gainfully employed who left their jobs voluntarily) is near a five-year high that is back to pre-recession levels, indicating rising confidence in finding new opportunities.
An improved economy means high performers have more employment opportunities than ever. Before they begin exploring greener pastures, ask yourself: Am I recognizing their hard work and contributions? Do I know what makes them tick? Am I offering competitive pay, benefits, flexible scheduling and professional development opportunities that other companies provide?
The cost of employee turnover is high and burdensome. Sierra HR Partners is available to discuss retention strategies that fit your business model.
Attracting and retaining your talent
As our local economy continues to recover, we’re observing new job creation, and people feeling more comfortable in pursuing new opportunities. Are you ready for this shift?
According to a recent study by the Society of Human Resources Management (SHRM), the three biggest HR challenges over the next 10 years are retaining and rewarding the best employees (59%), developing the next generation of corporate leaders (52%), and creating a corporate culture that attracts the best employees to organizations (36%).
One key component of attracting and retaining your valuable staff is a competitive compensation and benefits package. Do you know what your competitors are offering?
If not, you should. Sierra HR Partners has successfully conducted comprehensive salary studies for a variety of industries. As a neutral third party, we are in a unique position to obtain confidential wage, benefits and operational data, while ensuring confidentiality of participating organizations.
What California’s minimum wage increase means to you
California now holds the title for the state with the highest minimum wage in the country.
Effective July 1, 2015, employers were required to pay employees at least $9/hr. Effective January 1, 2016, it increased again to $10/hr. This means several important things for you as business owners and managers, including but not limited to:
- Evaluate your current salary structure to determine how the increase will affect pay ranges for all positions.
- Exempt commission salespeople need to earn at least $15.00/hr. under wage order 4 and 7.
- White collar overtime exemption requires a minimum monthly salary of $3,466.67 (based on a 40-hour work week).
We recommend taking several steps to ensure compliance with the new law including assessing your wage, employee classification and timekeeping practices.
Remember: As a valued HR Business Partner, we are here to assist!