In a proposed plan by the White House, more exempt employees will be eligible for overtime compensation. Not long ago I wrote a piece on the impact of increasing wages through both higher minimum wages and entry level wages in Is Your Business Prepared for the $15-An-Hour Entry Level Worker? Now, you should not only consider the impact of rising wages for hourly workers, but also potential wage impacts related to exempt employees. The proposed plan by the White … Continue reading “More Wage Pressure Could Be On The Horizon!”
Is “Cost Creep” affecting your income statement?
What is “Cost Creep”? How is it measured? How does it affect your community, division, or company? What can you do to stay out in front of it? These are some questions I hope to answer for you. Cost creep, in its basic form, is providing more care to residents than you are being compensated for. This can come about for many reasons, such as: an incorrect loaded hourly rate on which to base monthly service fees (MSF) and … Continue reading “Is “Cost Creep” affecting your income statement?”
10 Critical Steps to Increase Employee Retention
Employee retention is an area most businesses can improve on. In the heat of the moment with deadlines, phones ringing, and customers that need servicing, this is one area where short cuts are often taken. With the average entry level worker costing approximately $7,500 to turnover and executives reaching 200% of their yearly salary and some technical workers up to 400% of their yearly salary, this shortcut can be a costly proposition. Thought we’d start the year off with … Continue reading “10 Critical Steps to Increase Employee Retention”
Conduct a S.W.O.T. Analysis Before You Need a S.W.A.T. Team!
You have the ability to take your business wherever you can imagine. The first step in any journey is planning. The old mantra goes, plan your work and work your plan. Those are great keys to success. Develop a plan and then focus and stick to it. Not that it won’t need tweaking and adjusting along the way, but as long as you can stay focused and true to your mission and goals, you can accomplish anything in life … Continue reading “Conduct a S.W.O.T. Analysis Before You Need a S.W.A.T. Team!”
The Elusive Balance of Life and Business
If you’re like me you’re constantly searching for the optimal balance in life. I do a lot of reading and try to find tips and pointers that work for me. I think one point to stress at the outset is there are many great ideas and theories available, but you have to study and incorporate the ones that are right for you and your situation. The key to balance will be somewhat different for everyone and will change from … Continue reading “The Elusive Balance of Life and Business”