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10 Critical Steps for Ensuring Success in the New Year
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10 Critical Steps for Ensuring Success in the New Year
With 2009 approaching, undoubtedly you have spent some time reflecting on the past year and are beginning to think about some business plans for the upcoming months. A new year offers an opportunity to start fresh and get back on track. Below are some key business initiatives you should commit to now in order to ensure success in the coming year:
1. Review and update company policies. Policies guide employee behavior and demonstrate company compliance with major employment laws. But, policies that are outdated and no longer reflect company practices can actually cause more harm than good. With the New Year approaching and new labor laws on the horizon, now is the perfect time to review company policies and update them accordingly. Not only will this help to ensure your handbook complies with current employment laws, it will also serve to align your policies with changes to company benefits, work rules, and business practices. Just remember: any changes to your handbook require written acknowledgment from your employees.
2. Update your labor posters. Some important changes to some major labor laws are scheduled for early 2009. These new laws bring changes to your posting requirements. Most notably impacted are several state minimum wage increases, slated to take effect on January 1st. In some states, changes to the minimum wage may require an update to minimum wage postings. Additionally, employers with 50 or more employees will be required to update their FMLA poster to reflect important changes to the law, which take effect January 16, 2009. Failure to post required labor notices can result in fines of up to $7,500 per incident. It’s important to note that posting requirements vary by state. To get a full listing of your state’s posting requirements, click here.
3. Conduct performance reviews. Performance reviews have been proven to minimize employee turnover, improve employee productivity, and save money by utilizing existing staff to their fullest potential. Performance appraisals are also important for making decisions regarding promotions, training needs, salary administration, disciplinary actions, and terminations. As the year end approaches, make sure you are maximizing your available resources by letting employees know exactly where they stand.
4. Audit your business practices. Failure to comply with labor laws can result in hefty government fines, court fees, and a tarnished reputation. Don’t let this happen to you: audit your business practices regularly in order to identifypotential risksand bring polices and procedures up to speed with federal and state-specific standards. Some areas of particular importance include: staffing, compensation, benefits, performance management, and discipline and termination.
5. Develop a hiring strategy. In the past you may have thought bringing on full-timers was the way to go - but, this year, why not create a hiring strategy that meets your specific business needs? Before placing ads and interviewing candidates, you will need to think about why it is you’re looking for someone new. If it’s to fill a void left by an employee who is out on leave, consider a hiring a temporary worker. If it’s to complete a specialized project, the expertise of an independent contractor may be just what you need. If it’s to get some added help during periods of high demand, consider hiring temporary, part-time, or seasonal workers.Just remember to always think about why you need the help and who can best fit your needs before jumping into the hiring process.
6. Conduct background checks. Conduct background checks on all applicants you intend to hire. Not only are background checks required for employers in certain industries or when hiring for certain types of positions, they also help to ward against costly negligent hiring lawsuits. Furthermore, background checks serve tocut down on turnover costs and ensure your new hires have the background and experience the company needs to meet its goals.
7. Improve communication. A business can’t grow if all of its parts don’t work together toward a common goal. Make it your resolution for the New Year to improve communication and teamwork within your company. Consider a company outing to bolster camaraderie or team projects to promote solidarity. Communication in the form of company memos, newsletters, emails, and meetings are also important to ensure everyone is on the same page and is working toward the same goal.
8. Review employee records. Proper recordkeeping practices can be a powerful administrative tool for protecting your business from legal liability and helping you to operate more efficiently. Now is the perfect opportunity to ensure records are organized correctly and that you are retaining the documents that are required by law.
9. Create job descriptions. If you haven’t done so already, now is the ideal time to make sure you have job descriptions for every position within your company. Job descriptions define the essential and non-essential functions of a job and help to clarify who is responsible for what. In addition, the effects of a well-written job description can be seen in the hiring process, during new hire
orientation, when developing pay structures, and when identifying training needs.
10. Celebrate success with your employees. Don’t forget to acknowledge and celebrate each of your milestones. The best part of creating objectives is the satisfaction that comes from reaching your goals. Be sure you recognize employee achievements and let your employees know their hard work hasn’t gone unnoticed. Simple forms of praise and recognition will serve to drive employee motivation well beyond the start of the New Year.
For a more profitable 2009, consider taking a few of the steps outlined above. Doing so, will help your company to avoid legal liability and allow you to improve upon employee commitment and efficiency.
Source:
http://www.humanresourcesblog.com/
1. Review and update company policies. Policies guide employee behavior and demonstrate company compliance with major employment laws. But, policies that are outdated and no longer reflect company practices can actually cause more harm than good. With the New Year approaching and new labor laws on the horizon, now is the perfect time to review company policies and update them accordingly. Not only will this help to ensure your handbook complies with current employment laws, it will also serve to align your policies with changes to company benefits, work rules, and business practices. Just remember: any changes to your handbook require written acknowledgment from your employees.
2. Update your labor posters. Some important changes to some major labor laws are scheduled for early 2009. These new laws bring changes to your posting requirements. Most notably impacted are several state minimum wage increases, slated to take effect on January 1st. In some states, changes to the minimum wage may require an update to minimum wage postings. Additionally, employers with 50 or more employees will be required to update their FMLA poster to reflect important changes to the law, which take effect January 16, 2009. Failure to post required labor notices can result in fines of up to $7,500 per incident. It’s important to note that posting requirements vary by state. To get a full listing of your state’s posting requirements, click here.
3. Conduct performance reviews. Performance reviews have been proven to minimize employee turnover, improve employee productivity, and save money by utilizing existing staff to their fullest potential. Performance appraisals are also important for making decisions regarding promotions, training needs, salary administration, disciplinary actions, and terminations. As the year end approaches, make sure you are maximizing your available resources by letting employees know exactly where they stand.
4. Audit your business practices. Failure to comply with labor laws can result in hefty government fines, court fees, and a tarnished reputation. Don’t let this happen to you: audit your business practices regularly in order to identifypotential risksand bring polices and procedures up to speed with federal and state-specific standards. Some areas of particular importance include: staffing, compensation, benefits, performance management, and discipline and termination.
5. Develop a hiring strategy. In the past you may have thought bringing on full-timers was the way to go - but, this year, why not create a hiring strategy that meets your specific business needs? Before placing ads and interviewing candidates, you will need to think about why it is you’re looking for someone new. If it’s to fill a void left by an employee who is out on leave, consider a hiring a temporary worker. If it’s to complete a specialized project, the expertise of an independent contractor may be just what you need. If it’s to get some added help during periods of high demand, consider hiring temporary, part-time, or seasonal workers.Just remember to always think about why you need the help and who can best fit your needs before jumping into the hiring process.
6. Conduct background checks. Conduct background checks on all applicants you intend to hire. Not only are background checks required for employers in certain industries or when hiring for certain types of positions, they also help to ward against costly negligent hiring lawsuits. Furthermore, background checks serve tocut down on turnover costs and ensure your new hires have the background and experience the company needs to meet its goals.
7. Improve communication. A business can’t grow if all of its parts don’t work together toward a common goal. Make it your resolution for the New Year to improve communication and teamwork within your company. Consider a company outing to bolster camaraderie or team projects to promote solidarity. Communication in the form of company memos, newsletters, emails, and meetings are also important to ensure everyone is on the same page and is working toward the same goal.
8. Review employee records. Proper recordkeeping practices can be a powerful administrative tool for protecting your business from legal liability and helping you to operate more efficiently. Now is the perfect opportunity to ensure records are organized correctly and that you are retaining the documents that are required by law.
9. Create job descriptions. If you haven’t done so already, now is the ideal time to make sure you have job descriptions for every position within your company. Job descriptions define the essential and non-essential functions of a job and help to clarify who is responsible for what. In addition, the effects of a well-written job description can be seen in the hiring process, during new hire
orientation, when developing pay structures, and when identifying training needs.
10. Celebrate success with your employees. Don’t forget to acknowledge and celebrate each of your milestones. The best part of creating objectives is the satisfaction that comes from reaching your goals. Be sure you recognize employee achievements and let your employees know their hard work hasn’t gone unnoticed. Simple forms of praise and recognition will serve to drive employee motivation well beyond the start of the New Year.
For a more profitable 2009, consider taking a few of the steps outlined above. Doing so, will help your company to avoid legal liability and allow you to improve upon employee commitment and efficiency.
Source:
http://www.humanresourcesblog.com/
