Training costs are often among the first budget items to be reduced or eliminated. Smart companies, however, recognize the vital role logistics training plays in keeping their teams ahead of the competition, and choose to manage their training budget carefully.
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The Power of Flat – How organizations without managers succeed in the real world
by Minda Zetlin
It’s the kind of small inefficiency found in every business. One group of supply chain employees collects, breaks down, and disposes of wooden palettes—while another purchases palettes. But to simplify processes and cut costs, management from a large cosmetics company invited all employees to join a leaderless work group. Reusing the palettes was 1 of 500 changes the group identified—and it saved the company US$150 million per year.
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Advice for small business owners on successfully starting a business
by Michelle Benjamin
The idea of starting your own business and being your own boss is a concept that many of us find exciting. According to the Small Business Administration (SBA), over 600,000 new businesses are started each year in the United States. The SBA also reports that approximately one-third of those businesses will fail within the first two years. So as a new business owner, what can you do to make sure that your business is not one of those that fails?
5 ways to attract the right new hires in 2014
By Adrienne Burke | Profit Minded
If you’ve ever made a hiring mistake—and who hasn’t?—you know the consequences can be painful. Many of them— including the estimate that a bad fit for even the lowest paid job will cost an employer $25,000—are presented in a National Business Research Institute infographic. And a widely cited statistic attributed to the U.S. Department of Labor, which has long offered employers guidance on good hiring practices, puts the cost of a bad hire at 30 percent of the employee’s potential annual salary.
Select a reliable and trustworthy workforce solutions provider
Many small to medium sized businesses are choosing to utilize a workforce solutions company in an effort to reduce their operating costs. Today, there is a wide range of solution providers available offering services from temporary workers to human resources to payroll and accounting services. Like any other business category, there are good providers and not so good providers. Follow this advice to make sure your decision to use a workforce solutions provider is successful and has a positive impact on the corporate bottom line.
Michelle Benjamin’s Article Featured on ThomasNet.com
As the U.S. manufacturing industry struggles to find fresh talent, retaining and rewarding existing workers becomes increasingly important. While there are many ways to keep staff engaged and happy, one often-neglected method is the performance review process.
Manage the budget and cut expenses while maintaining employee morale
As a manager, you are consistently asked to reduce spending and to do more with less. As we move toward the end of the fiscal year and begin the budgeting process for next year, here are some ideas for cutting expenses while still being able to be productive and keep your employees engaged and content.
With the start of a new government fiscal year upon us and the end of the calendar year right around the corner, it is time to review and approve the budget for the upcoming year. Businesses are always looking for creative ways to reduce their costs while continuing to offer the same (or better) level of service and support to customers. Funding for training programs is unfortunately one of the first areas of the budget to be subjected to cuts. Annual training programs are beneficial to both the employee and the business, so instead of reducing the budget, why not utilize a training consortium to receive the maximum benefit from your training dollars? A training consortium benefits your business in the following ways:
For U.S. manufacturing facilities to become and stay competitive, they need to cut waste, streamline their processes, and have well-trained employees. Though there has been a significant job loss within the manufacturing sector, the overall amount of goods being produced has remained fairly constant. This is the result of an increase in automated manufacturing processes and less manual effort by employees.
Expert advice for giving a bad performance review to a good employee
As a manager, one of the most impactful management tasks is creating and delivering performance reviews to your direct reports. This is a task that needs to be done on a regular basis so that both management and employees are aware of how they are performing in line with corporate goals and expectations. This task becomes more difficult when the employee is not performing at an acceptable level. The following advice should assist you in delivering a negative review in a positive light.