Holly Schroeder, President & CEO of SCVEDC
The start of a new year brings the inevitable personal New Year’s resolutions. While those are often fleeting, this can be a great time for employers to assess their priorities and take action to build a great team. Here are my recommendations for five New Year’s resolutions that will help strengthen your business in 2020 and beyond.
1. Hire locally
Studies show a strong link between hiring locally and employee retention and employers understand that a big part of job satisfaction is a good work-life balance. Workers with shorter commute times are also more likely to stay at a job and work more productively in jobs that offer better work-life balance.
2. Foster diversity
While we are on the subject of hiring, there is strong evidence that companies that foster diversity are more likely to be successful. All businesses should be proactive about encouraging diversity on their teams and providing ample mentorship and support, so women and minorities have equal access to management opportunities and upward mobility within your organization.
3. Focus on employee training and staff development
With unemployment rates holding steady at an all-time low, it can be difficult to find the employees you need. That’s why training your existing workforce is vital. It not only helps them grow in their knowledge and skills, but it increases the likelihood that they will stay with your company.
4. Get up to date on employment law
With employment laws ever changing it’s vital to stay ahead of the curve. All employers should attend Poole Shaffery & Koegle’s 2020 Employment Law Update on Thursday, Feb. 4. Topics include independent contractor classification, meal and rest period claims, overtime, sexual harassment training and arbitration agreements. Plus, you’ll get a preview of new laws for 2020. We are encouraging all employers to take an Employment Law Survey in advance of the event.
5. Show your appreciation
While it might be obvious that employees who feel appreciated for their work are happier, you may not realize that happy employees are on average 12% more productive than their less satisfied counterparts. Recognizing your employees for their efforts also builds trust and a deeper connection to both the leadership team and their peers. Finally, employees who feel appreciated are also more likely to stick around. ν
If you’d like more information, contact the SCV EDC at (661) 288-4400 or [email protected].