THE REASON EMPLOYEES ARE QUITTING IN DROVES
The numbers paint a disheartening picture of the average workplace. If you’ve been a manager for a long time, it can be difficult to imagine how frustrated an undervalued member of your team can feel and how these feelings can spread throughout your organization, leaving all your employees discontent. It’s imperative to listen and respond to your employees’ concerns. It takes more than instituting an open- door policy and relaxing work requirements —
According to a survey conducted by Randstad, 60 percent of American employees either quit or strongly considered quitting their jobs last year. That’s a number that should terrify any business owner. However, instead of panicking, consider this record-breaking moment in U.S. employment history an invitation to take a long, hard look at your organization. Are members of your team waiting for the perfect moment to bail? And if so, why? It’s not because the majority of employees are ruthless careerists or disloyal money- grubbers. If we look at Mental Health America’s 2018 Workplace Health Survey, it mostly boils down to the fact that over half of American employees feel unappreciated, unsupported, and disrespected by management. In fact, 21 percent of respondents said that instead of being paid what they deserve, they’re nickel-and-dimed when raise season arrives, and 77 percent believed that instead of being lifted up for their accomplishments, employees were forced to toil away in the corner, feeling invisible. Sadly, scarcely more than 34 percent of respondents believed they could rely on the support of their managers and colleagues.
two characteristics of healthy workplaces, as rated by respondents. You need to commit resources to eliminating the problem. Start with the highest-level leaders of your business. Work with them on how to interact with the rest of your team in more human, empathetic, and responsive ways. Training and assessments are a good start, but you may also need to revamp the mentality and core values of your company.
In a world where finding a new job is easier than ever, managers cannot afford to ignore the needs of their employees. Evolve and acknowledge the emotions in your workplace or risk losing all that you’ve invested in your top performers.
DO YOU HAVE A PLAN? SECURING THE LEGAL SIDE OF YOUR BUSINESS
tough to think about some of these events, but once you’ve done the work, you can have peace of mind knowing your business will be in good hands. SUCCESSION PLAN Your succession plan may be part of your estate plan; it could also be a timeline for passing down your business to a family member. When the time comes, make it easy to transition your business to a person of your choosing. Don’t leave it in the hands of the state or a family member who may not be best equipped to tackle the job — put a plan in writing. ASSET PROTECTION For many businesses, it’s no longer if but when you’ll find yourself on either side of a lawsuit. Using legal tools and financial plans, your attorney can help you develop protections for your hard-earned assets. Do yourself some favors this year — make the legal side of your biz airtight. At Reib Law, we are here to help you do just that by creating a plan that aligns with your goals and values. Give us a call today, and find out what you can accomplish in the first quarter.
The day you started was the best day to address the legal aspects of your business, but the next- best time is today. It’s vital to start working on the legal aspects of
your business and life right away. Do you have an estate plan in place? Do you have a transition plan for your business? Is your business structured in such a way that, if a liability event were to happen, your assets would be at risk? If any of these questions left you scrambling, don’t panic. The start of the year is the ideal time to get some of these plans in place. Instead of waiting until the third quarter to think about them, let’s start working on these tasks in the first quarter to get them resolved this year. Here are three aspects to consider. ESTATE PLAN Have a plan in place for your loved ones. We may ask you some tough questions to help you establish an estate plan that encompasses all your assets. We need to know as much as possible to help you create the best plan. I know it can be
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