Feedback and Recognition are critical to the success of your employees. According to the Harvard Business Review, when used appropriately, feedback gives employees the opportunity for development and career growth. Both positive feedback and constructive criticism can be a means to an end in reaching business goals as it leads to better decision making and provides motivation for increased productivity. When done correctly and combined with recognition, employee engagement can blossom.
So many of the processes associated with Human Resources are filled with large amounts of paperwork. Everything from the process of sorting through one application after another to recruit the best candidate; to all the paperwork associated with new hires starting with the company; to facilitating, testing, and tracking training; and to evaluating employees with performance reviews and warnings; traditionally, each process is time consuming and paper intensive:
According to National Tax Credit (NTC), a leading state and federal tax credit processing provider, 90% of “for-profit” businesses qualify for the Work Opportunity Tax Credit (WOTC). The surprising thing is, 50% of all credits go unclaimed, potentially leaving thousands of dollars on the table that could impact a business’ bottom line. There might be a number of reasons why a company wouldn’t claim a tax credit. The two reasons I hear the most with service industry operators that I meet at tradeshows and conferences throughout the year is that they aren’t familiar with WOTC or that WOTC is too paper intensive and time consuming.
Finding people to hire is a constant battle in the service industry. With the unemployment rate being lower than 5% across the country, and in some areas even lower than 3%, it is more important than ever to get your jobs seen by all applicants and to hire quickly while also engaging your workforce to tamp down turnover where you can.
Having great talent can set your organization apart from your competition. A quality Recruiting and Talent Management platform should help your company find, hire and manage that talent. Without a system, your company is missing out on the best candidates, wasting time and possibly costing the business money, and not properly building the strongest workforce. While you don’t need convincing of this, gaining executive buy-in is no small feat.
A Recruiting and Talent Management system can result in outstanding results to your business in addition to your bottom line. This is especially true when dealing with the service industry, where many times you are dealing with high turnover, a diverse workforce and razor-thin profit margins.