Capital Advisory Group, Inc. May 2018

In February, you might have looked at your pay stub and noticed that you were getting more money back. “More money in my pocket,” you thought. With the lower tax withholdings that went into effect in February, many people saw this shift in their paychecks, and it felt like a good thing — though it may not be. It looks like a tax break now, but come next April, you may be singing a different tune. While the lowered tax withholding looks like a good thing on paper, you may need to take a second look at your W-4 and re-evaluate your withholdings to make sure you don’t get penalized for it come tax season. To make sure you’re paying enough toward taxes, determine if you need to take more out of each paycheck to contribute to taxes. Talk with us at Capital Advisory Group to determine the right amount for your income bracket. In 2018, some of the biggest changes we’ve seen in 30 years were made to the tax code. It’s prime time to re-evaluate your status and start planning for next year. While it may seem early, if you begin strategizing now, you’ll have time to see a change in your taxes come April. It’s time to start planning now, especially if you weren’t happy with how you ended up this season. If you have questions about tax planning and how to maximize your tax strategy for the coming year, make an appointment with Capital Advisory Group. We’ll talk to you about what you can do right now to make next tax season a breeze and pay the lowest amount of taxes legally possible for your situation. Time to Re-evaluate YOUR PAYCHECK AND YOUR TAXES LOWERED WITHHOLDINGS MAY IMPACT


Retain Customers

When you have high employee turnover, chances are that you have higher-than-average customer turnover.This is a detail that too many companies overlook. If your business is customer-facing, your employees must build relationships with customers, and these relationships are key to retaining your customers’ patronage. When a customer-facing employee leaves your company, customers have to start over and build a relationship with someone new. Not every customer will be willing to do that.Their sense of loyalty has been eroded, and it gives the customer the perfect opportunity to look elsewhere for similar products or services. While employee retention is not the sole factor in customer retention, it does influence it, so examining your staff turnover rate is always a good idea.The costs associated with replacing an employee are high. You have to find the right candidate and train them. Couple that cost with the cost of losing a client, and you lose a significant amount. According to a 2015 ERE Media study, to replace an entry-level employee, it costs about 30–50 percent of that employee’s annual salary. Need to replace a midlevel employee? It costs about 150 percent of their annual salary. Get to senior or highly specialized employees, and the cost reaches about 400 percent of their annual salary. On the customer side of things, a Bain & Company study found that it is 5–25 percent more expensive to get a new customer than it is to retain a current customer. Considering all of these costs, why wouldn’t you do everything you can to retain good employees? Employee retention is critical for morale.When you lose one employee, it’s not uncommon for others to follow. Of course, it’s also critical to understand why employees decide to leave.This is where in-depth exit interviews can provide valuable data. Know exactly why employees are leaving, and you can fix the problem. Additionally, consult with current employees on what the business can do better.The more you know, the more you can do. Right now, there are people on your team who are thinking about leaving your company. A 2017 Gallup survey found that 51 percent of workers are thinking about leaving their current company.The biggest reasons include a lack of advancement opportunity, poor work-life balance, and high stress. A 2017 Mercer Global Talent Trends study found that 34 percent of employees plan to leave their current position within the next 12 months. Realizing the value of your employees contributes to the success of your business.When you’re proactive and willingly cultivate a positive work environment, you retain employees. All you need to do is remember this simple equation: Happy employees = happy clients.


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