Employee Retention Strategies

employee retention strategiesThere are two main problems concerning human resources today. The first one is the unemployment rate which causes grossly underqualified people to apply to your company and the second is employee retention. For business owners, retaining your best employees may pose as a challenge.

Entrepreneurs know how competitive hiring is in the business sector and the fear of employees jumping the fence to join a competitor is more palpable now more than ever. It is hard to find good employees but it is even harder to promote company loyalty. Once you find top quality people to work for you, you have to ensure that you can keep them because retaining quality employees is one of the keys to ensure the growth of your business.…

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Optimize Your Marketing Efforts Without Hiring a Team of Know-It-Alls

email marketing One of the keys to success for every small business is a really smart marketing program that keeps existing customers in the fold and continually incites prospects to join. The program should include the most cost-effective ways to raise brand-awareness, leverage your expertise and share deals.

Although many are still hesitant to move away from snail-mail or the telephone, others are rapidly discovering that email marketing is one of the most effective means of generating sales.   Research conducted in 2009 by the Direct Marketing Association (DMA) found that email outperforms all other forms of direct marketing.

If you’re new to email marketing, or want to crank it up a notch, here are three tips to help you build and grow your email marketing list without having to look for additional budget.…

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Frugal Business Spending: A Must In A Tough Economy

frugal business spendingIn these tough times, the biggest impact of the economic downturn is being felt by the small business sector. This is largely because of the fact that there are fewer resources available to counter the effects of an uncertain economy. The best way for a small business to thrive nowadays is by cutting costs. Practicing frugality in your business does not mean that you are sacrificing the quality and service level of your company. Cost cutting on certain aspects of your business could just be the economic stimulus needed to let you bounce back from an economic spiral.

Basically, there are six areas you can start spending less on but still retain the quality of your products and services.…

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The Importance Of Hiring The Very Best Employees

hiring the best employees possibleAs small business owners, we wear many different hats.   Among which, hiring the right people, and helping them achieve their highest potential, are two of your most important responsibilities.   But which one is MORE important?

This is an oft-debated topic – at big companies and small – about whether it’s more important to:

A.           Hire the best people, or

B.           Get the most from your people

Many large companies spend a lot of time and energy teaching their managers about choice (B) – getting the most from their direct employees – while devoting surprisingly little attention to the recruitment of “A Players.”

Why is that?  …

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Getting Into The Foursquare Frenzy

social networking on FoursquareMany business owners are now relying heavily on social media to help market their products and services. You may already have a business account with Twitter, Facebook and LinkedIn. You may also see that with these sites, your sales went up higher than you expected. But you should not stop there. People regularly think of ways to let them connect with others who share the same interests and you have to be updated so that your business can thrive.

The latest addition to social networking media, which can help promote small businesses, is the Foursquare iPhone app. It is a well-known belief that the best marketing strategy is by word of mouth and Foursquare has it down pat.…

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The “Secret” Customer Service Weapon for Small Technology Companies

customer service telephone communicationsTechnology companies are, unfortunately, almost as well known for having poor customer service as they are for their actual products.   Why is that?

Small business expert Anita Campbell cited poor customer service for web apps as one of three key issues that needs to be overcome before cloud apps can become ubiquitous in small businesses.   Shame on us web software companies for allowing an easy-to-fix item like this onto the list!

This truth stings quite sharply, for a couple of reasons:

1.           It’s true

2.           Most cloud app companies are small companies (not large ones)

Crappy customer service is almost expected from large companies – in software, and beyond.  …

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The Impact Of Fraudulent Applications For SBA Loans

SBA loan fraudulent applicationsThe Small Business Administration (SBA) should be commended for their help in sustaining the small business sector with their microloans. However, a recent report by the Government Accountability Office (GAO) shows that the funds which should be distributed to businesses that need it, actually go to ineligible ones. The HUBZone certification which businesses need to qualify for a loan is a program which spans 13 years and is meant to help small business owners build companies in economically distressed areas. When investigators submitted applications which should be denied or disapproved because of obvious reasons; those applications got the federal contracts instead.…

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Bank of America Announces New Program to Help Spur Small Business Lending Nationwide

Bank of American lending program for small businessesBank of America (BOA), one of the world’s largest financial institutions, has announced it will provide $10 million in grants to nonprofit lenders, such as Community Development Financial Institutions (CDFIs), to leverage funds from the U.S. Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA) for lending to small and rural businesses.

The grants to nonprofits will help up to 8,000 businesses obtain new loans over the next 12 Months.

The CDFI’s will use the grant money as loan loss reserves, which BOA hopes will unlock millions in low-cost capital for small business microloans program nationwide.

SBA and USDA microloans are made through local nonprofit lenders, which also provide business training and technical assistance.…

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Building a Perpetual Marketing Machine

email marketingWhen it comes to online marketing, small businesses are staring at a dilemma. Free online marketing tools like social networks have great potential for reaching new customers, but their actual impact on the bottom line is hard to measure. Meanwhile, established tools like email marketing provide valuable metrics on subscribers, and are more suited for retaining and engaging existing customers than acquiring new ones.

Thankfully, online marketing isn’t a zero-sum game – it’s an aggregate one! Positioning email marketing against social media leaves marketers at a loss because they fail to capitalize on the individual strengths of both these channels. Email marketing gives businesses the ability to build a deeper relationship with customers, while social media helps to reach a broader audience.…

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Employee Training – A Wise Investment

employee training programOne of the most important aspects of small business management is the manpower. This is where the business operation and the business success relies. If the manpower is weak, it is not possible to achieve the goals and plans of the company. Entrepreneurs are already aware that in order for their business to succeed, they must select and hire the right people.

But most often than not, employees are raw in terms of the knowledge regarding your business. That is why staff training should be implemented so that your employees will get the chance to update their skills and learn more about your business.…

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