News – Asset HR

3 Tips to Decrease Recruiting Costs

Reducing the costs of recruitment is something that every business owner or HR Department should make a priority. In many cases, you can cut your recruiting costs by simple changes to your hiring process.

Hiring is one of the top expenses that many businesses have to manage, particularly if they have high employee turnover. With more companies trying to hire great talent, it’s important to do what you can to cut those costs.

If you’re wondering how to keep the costs low without compromising quality, read below for 3 tips to decrease recruiting costs when you’re ready to hire new employees.

Tips to Decrease Recruiting Costs

Recruiting and hiring are two of the most important priorities for any company. Unfortunately, they can also be two of the most daunting, time-consuming, and expensive tasks on any HR professional’s plate.

If your team is looking for ways to cut costs, recruiting might seem like an area you can’t afford to invest in. But a tight job market means there isn’t a lot of wiggle room when it comes to hiring quality candidates. So how do you balance these two competing priorities?

Use Employee Referral Programs

Your employees know your company better than anyone else — and they probably know a lot of people who might be interested in working there too!

Referrals from current employees can be a great source of candidates. They may even be more qualified than applicants who respond to your job ads because they’re already familiar with the company culture and values.

When your employees find a strong candidate, it could be easier to convince the candidate to apply than it would have been if you’d found them yourself.

It’s also probably cheaper than using other sources like job boards or staffing agencies because you don’t face competition from other employers — since your own employee recommended them, they’ve probably already decided they want to work for you!

Another benefit of referral programs is that they provide an incentive for your team to participate in the recruitment process. Consider offering referral bonuses or other incentives to encourage your employees to recommend the company to their friends and family members.

Use Social Media

Today, most companies rely on social media to increase brand awareness and strengthen consumer relationships. It’s a great way to grow your customer base and generate leads, especially when you’re attracting the right people. And it’s just as effective when you’re trying to recruit employees.

Social media has made recruiting easier and less expensive than ever before. Sites like LinkedIn have become powerful tools that recruiters can use to connect with the best possible talent.

Make sure your company has a professional-looking social media presence, so you can post job openings online and attract the right candidates. A well-maintained company Facebook page or Twitter account is also a great way to get people interested in working for your organization.

Streamline Your Application Process

Reducing the cost of recruiting includes making your application process less expensive and more efficient. This work is where technology comes in handy. Leveraging applicant tracking system, like we do with our isolved system, can help you reduce the time to hire while increasing the quality of hires by automating many of the tasks associated with the hiring process.

Many organizations still struggle with their first-hand application and onboarding experience. By using an applicant tracking system, you can improve this experience and make it more seamless for applicants. It does this by providing a centralized location for candidates to submit their applications and then provides feedback on the status of their applications in real-time.

This approach reduces inquiries about application status from candidates, creates a seamless onboarding experience, and reduces administrative effort to answer questions and manage the process.

Take Recruiting to the Next Level with AssetHR

It’s time to step up your recruiting game. AssetHR’s integrated platform isolved offers HR Talent Solutions like Applicant Tracking and Employee Onboarding, Workforce Management, Payroll and Leave Management and Retention Strategies. What’s more, our implementation process delivers a unified human capital management experience featuring automation, visibility, and collaboration.

Contact us for a complimentary consultation to see how AssetHR can unlock the full recruiting potential of your business by enabling you to better target and track candidates, cut time in the hiring process, and create actionable reports that drive better decision-making.

Empower Your Employees to Become Leaders: Tips for Success

In business, your people are your most valuable assets. Empowering your employees will enable them to feel more confident and be more productive.

How can you create meaningful and lasting change in your employees? By empowering them to take on leadership roles and responsibilities.

Empowering employees is a great way to get their creative juices flowing and develop their leadership potential. Managers should foster an environment in which employees can take the initiative and use their inherent and learned skills to achieve the company’s goals.

Here are six employee empowerment tips that will help you build a stronger company and create better leaders:

Hire People with Potential

When you’re looking for new hires, focus on candidates who show signs of being great team leaders. Look for individuals who are assertive and motivated rather than those who are solely concerned with the paycheck or job title. Consider whether the candidate has already taken on leadership roles in other organizations or volunteer settings.

Offer Professional Development Opportunities

Ensure that each employee has the opportunity to enhance their professional skills. Provide training on topics that will help employees develop their careers and become stronger leaders. Offer mentorship programs or job shadowing opportunities so employees can learn from more experienced professionals.

There are a number of ways you can do this, including:

  • Providing on-the-job training
  • Sending employees to conferences and trade shows
  • Hosting workshops and seminars
  • Developing an internship program
  • Designating a mentor or coach for each employee
  • Conducting performance reviews

You can streamline your administration in offering opportunities like these by partnering with our team. Not only can we deploy our award winning isolved system to implement enterprise-level human capital management systems seamlessly for your organization, we are able to provide ongoing leadership development, OSHA training and more, helping you to build a culture of learning within your company. Offering these professional development opportunities not only empowers your employees, but it helps you retain your talent and increase employee engagement.

Create an Inclusive Work Environment

Provide avenues for employees to share their ideas and opinions with management or the whole team, such as employee-led discussions or focus groups. Encourage teamwork, both inside and outside the office, so employees can get to know one another better and build relationships based on trust and respect.

Mentor Employees

Mentoring is one of the best ways to empower employees to take on leadership roles. By working directly with a leader, they’ll be able to learn from someone who understands what it takes to succeed.

Some organizations pair employees up with mentors based on personality traits, professional interests, or skill sets. This approach can ensure that the mentor-mentee relationship will be productive and beneficial for all involved.

If a manager doesn’t have enough time to mentor an employee, there are plenty of other ways they can help that person develop their leadership skills. Your organization may also want to consider partnering with another business on a mentorship program.

Offer Employee Development Committees

Employee development committees are a great way for employees to brainstorm ideas and implement initiatives that will support professional growth within the organization.

These committees also provide an outlet where emerging leaders can share their thoughts and ideas with management on how they can improve the employee experience in the workplace.

Set Goals and Objectives for Employees

Setting goals is one of the first steps toward employee development. When you set goals, make sure to refer back to the core purpose and mission of your organization. It’s easy to get lost in setting goals if they’re not tied to some kind of company value or objective.

For example, if you’re running a small business that provides online marketing services, then one goal might be to increase customers’ return on investment (ROI) from your marketing strategy by 30 percent within six months.

That’s a measurable goal that aligns with the company’s mission — increasing customers’ ROI from online marketing efforts.

Create Leaders with Help from AssetHR

Developing the leaders of tomorrow is an effective, measurable way to ensure your company will succeed in today’s world. Whether you’re looking for leadership training for one person or an entire department, you can trust that AssetHR has the experience and commitment to take you there.

At AssetHR, we have developed a unique Leadership Development Framework that will help you build the assets for your organization’s success. From strategy and strategic planning to coachability and accountability, we provide tools and resources that will help you discover new ways to create leaders for your organization. Let’s connect to consider the options that might be right for your organization.

isolved Expense Management Tool for Capital Management

Reconciliation of employee spending is an essential part of operating a business. Determining who needs to be paid, for what, and when is vital for keeping employees happy and maintaining legal compliance.

As businesses continue to grow, adding more employees and departments, capital management practices and how they are implemented become much more important. HR directors often turn to expense management for simplified repayment solutions.

What Is Expense Management?

Expense management is an important tool for businesses that want to keep track of employee spending. With expense management tools and software, HR directors can effectively assess and certify claims with little overhead.

Modern expense management software gives businesses the ability to track and monitor spending so that they can save money and improve efficiency. Expense management reports allow managers to approve or deny potential spending and past spending claims. Scheduling repayment and reimbursements has never been easier.

Why Is Expense Management Important?

When businesses allow their employees to make purchases and report on them later, financial records and documents need to be accurate.

Proper expense management gives employers the tools and software to define what services or products are allowed and which aren’t. This classification is essential for larger organizations or those working on a tight budget.

Benefits of Expense Management

Expense management is a powerful solution for HR directors who want to create better working environments while reducing costs. With expense management tools and software, businesses have access to practical solutions for limiting fraud and improving employee satisfaction. The benefits include:

Automated Workflows

Complicated expense reporting can mean errors and mistakes occur. Expense management provides companies with automated tools to track and manage claims in real-time.

Businesses that use similar practices and processes across multiple departments can save time and energy by creating custom templates and response practices.

Faster Turnaround Times

Employee expense reporting often means that businesses have to spend time, energy, and resources determining and responding to the validity of claims. With expense management tools, decision-makers can quickly respond to claims and reimbursements.

Improved Employee Satisfaction

For employees who have to pay upfront for their business expenses, waiting for claims to be processed can be aggravating, leaving them less happy in their roles.

Expense management gives HR directors insights into reporting habits and other important metrics so they can ensure clarity in their policies and reduce the potential for misreporting, thereby building trust among employees.

Better Financial Health

Companies that rely on internal reporting see higher costs and reduced satisfaction. With expense management tools, decision-makers can reduce their financial burden and improve the overall health of their organizations.

Lower Overhead

Expense reporting is a long and complicated process that leaves HR directors and other professionals with a great deal of paperwork. With the proper expense management tools in place, administrators can reduce the burden of large volumes of paperwork and other data management requirements, leaving them free to do more important things.

Greater Efficiencies

When employees don’t have the necessary support, they’re often unable to provide the necessary services. Expense management software allows users to collaborate across different channels while providing insights into the outcomes of specific practices.

Enhanced Fraud Prevention

It’s often difficult for HR managers to properly track and assess fraud in financial reporting. With expense management tools, it’s easier than ever to look at expense data and make the proper judgment.

Fewer Errors

When employees track and manage their own expenses, it’s easy for them to make mistakes. With automated tools and software solutions, expense management allows users to fix any issues that might arise before they become problems.

Compliance

Businesses that don’t provide proper reporting for their financial expenses can face legal liabilities, meaning fines, reputational damage, or worse. With expense management software, HR professionals can ensure their financial management processes are always compliant with regulatory requirements.

Enforcement Policies

It’s often difficult for businesses to monitor and assess employee spending until it’s too late. With real-time tracking and management tools, expense management software allows decision-makers to deliver text messages, emails, and other communications to employees about what spending is and isn’t allowed.

HR Managers Use isolved for Expense Reporting

Are you an HR manager looking for better expense management tools? isolved is a human capital management (HCM) tool made to improve employee management.

The isolved platform’s expense management software is the newest addition to its comprehensive plugin system. This addition means practical asset management is available at your fingertips.

AssetHR Knows Human Capital Management

If you want to streamline your expense management and reporting, AssetHR’s practical approach to HR management will ensure you keep your financial reporting on track.

We can help make it easier to manage your most valuable asset — your people! Connect with us to learn more.

 

Build from Within: How to Empower Your Employees to Become Internal Experts

Building from within is the ultimate sign of a successful company. Companies that are able to retain their employees and then promote from within the ranks save time, money, and effort compared to companies that constantly have to hire external candidates for managerial positions. 

Employee engagement is an important part of turning employees into internal experts. Find out how your company can ensure that you can build from within below.

Promote Personal Branding

When a company is in a B2B setting, employees should be encouraged to brand themselves personally. Encourage them to share fresh content they have created on LinkedIn, YouTube, the company blog, and other mediums. They will become experts in their fields while promoting your organization.

When you empower your employees to be at their personal best, your company will benefit greatly. The employee will have a true interest in providing their best work for the company at all times.

Encourage and Provide Learning Opportunities

Training, training, training. Every industry has plenty of training opportunities out there for employees. However, not every company will offer those opportunities to their employees. Why not? Investing in your employees should be a top priority, especially if you want to cut down on the turnover rate.

Companies need to not only offer training opportunities but also encourage employees to attend them when possible. These opportunities can be offered in a variety of ways, but our clients often find that our isolved Learn application is the most efficient and effective way to offer their team on-demand, practical learning opportunities.

Let Employees Set Their Own Pace

Do not force employees to attend training sessions if they choose not to. You can go as far as offering these options, but you shouldn’t make them mandatory unless required by law or OSHA to keep the workplace safe and free from hazards. 

When you want to promote from within, let your employees set their own pace for training and advancement. When employees have control over their own education and advancement, they are more likely to enroll in training courses. 

When you make these courses mandatory, employees will likely be unwilling to take them or finish them in a timely manner.

Offer Informal and Formal Training Opportunities

An excellent way to increase employee engagement and promote from within is by offering both informal and formal training opportunities. In today’s workforce, where hybrid and work-from-home settings are now commonplace, you need to offer different ways for employees to learn.

Examples of informal training opportunities include podcasts and webinars. With more employees working from home these days, attending webinars and listening to podcasts can offer a convenient way to offer continuing education to your employees. They allow employees greater flexibility for when they do their extra training, especially if they are pre-recorded.

Formal training opportunities include in-person seminars, public speakers, conferences, and digital classes that you can offer on an employee engagement system like isolved. A mix of informal and formal training opportunities alleviates stress for the employee in finding ways to incorporate the sessions into their schedule.

Create a Mentorship Program

Mentors are not just for the education sector. Mentors are used in emergency services and many other industries. Mentors make it easier for new hires to become acclimated to their surroundings. 

When you establish a mentorship program you not only help new employees but also give tenured employees a new sense of responsibility. They will see that they are an integral part of the organization because they are being trusted with welcoming and training new hires. They will take pride in all they do to set an example for their mentee. 

The mentorship program doesn’t have to stop at helping new employees. You can create groups within the program that meet to discuss new ideas, innovations, and how to implement changes at the company. 

You will quickly see an improvement in the corporate culture, engagement of employees, and decreased turnover rate with the addition of a mentorship program. Mentees will know where to go for advice, information, and anything else they might need to succeed at the company.

Call Asset HR to Schedule a Consultation Today

Are you struggling with employee engagement? Do you want to find new ways to retain the best employees? Is it time to develop a new strategy for promoting from within? Asset HR can assist your organization with all of these issues. Connect with us today to schedule a consultation with an experienced member of our team.

Five Ways to Successfully Improve Your Employee Experience for Increased Employee Retention

Employee retention is a hot topic for companies of all sizes in every industry. Holding onto the best employees is not always easy, even if your company has the best benefits, highest salaries, and other enticing perks.

Employees are looking for more than just money, insurance, and perks. They want to feel needed, respected, valued, and part of the bigger picture. When you improve the employee experience, you can increase employee retention. Explore these five ways to improve the experience of your employees from Asset HR.

Focus on Excelling at Communication

Nothing can drive a good employee away faster than poor communication. Employees want to know what is happening where they work. They don’t want to be left in the dark, especially when dealing with issues affecting them directly.

Communication should not be a challenge for companies. All it takes is a quick phone call, email, virtual meeting, or in-person discussion to relay information.

Ensure that these methods of communication are put to good use:

  • Use technology to your advantage
  • Ask your employees what they want or need
  • Use plain language when communicating with employees
  • Follow a template for communication plans for large announcements
  • Use visuals to augment important messages

Provide Meaningful Work

Busy work is never a good thing in the professional world. Assigning a project to an employee for the sake of giving them something to work on can backfire easily. Employees want to know that what they are doing is meaningful. Find work that they can feel proud of and that they know contributes to the big picture.

Create a Positive Work Environment

The employee experience needs to be a positive one if you want to retain your workers for the long haul. This starts with the culture at your company.

Poor attitude will easily rub off on your employees, which can turn into a poor work ethic. Before you know it, client orders are not being fulfilled on time and customer service takes a hit.

You can do the following to create a positive work environment:

  • Hire the right employees and fire the bad ones
  • Improve communication
  • Make the office comfortable
  • Regularly check-in with employees
  • Offer opportunities for learning and advancement (our isolved Learn deployment is a great tool to make this simple!)
  • Creating a positive work environment starts at the top and encompasses every single employee.

Offer Growth Opportunities

Companies that offer growth opportunities often retain the best employees. An employee can see early on if they will be able to grow with a company. If there are no opportunities for advancement in an employee’s career, it will be a challenge to keep them from jumping ship.

Your company can change. It has been done before and it will happen again. It might take a lot of convincing, effort, and drive, but if you want to retain employees it needs to happen.

Start small by adding a new rung on your corporate ladder and make the necessary promotion. Once you backfill the position that was left empty by the promotion you can create more opportunities for your employees.

Use the Right Tools

Increasing employee retention begins with the overall employee experience. The best way to ensure that your employees are enjoying their experience working for your company is to ask for their feedback.

Honest feedback can be difficult to hear. Your employees may have criticisms to offer, especially if you’ve experienced a high turnover rate recently. However, asking for feedback is critical in improving the employee experience at your organization.

There are many tools you can use to measure employee engagement and collect feedback. Make sure you are conducting exit interviews with employees who choose to leave your company for opportunities elsewhere. You might not like what you hear, but these interviews can provide honest insight into your company’s culture.

Contact Asset HR to Schedule a Consultation

When you are at a loss for new ideas in retaining employees, it’s time to reach out to the experienced team at Asset HR. Call our office to schedule a consultation. We can help you improve your employee experience in the hopes of improving retention.