Invoice Factoring, or Accounts
Receivable Factoring, is using your invoices as a way to receive instant capital without losing any control or interest in your organization.
Nearly instant approval and no wait time make our Factoring solutions a highly effective tool in your competitive arsenal.
We make it possible for your company to receive instant funding for whatever need or project you are working on. From making payroll, to getting cash immediately, to covering expenses or growth, we can help.
People are the single most valuable asset any company has in their arsenal. And they stay or leave based on the corporate culture and atmosphere of their work environment. Corporate culture starts from the top and works its way down the ranks. Ironically it is one of the least expensive tools of management and yet the one that is most often ignored.
People leave their jobs for of three reasons:
Going to Something
Going from something
Going for Money
Ironically, businesses owners have more control over these variables than you might imagine.
Going to Something
When people run to something new it is because another company has offered them an opportunity to grow and contribute in ways not currently available to them. For instance, if another company offered a sales person on your team a sales management role, and you do not have the same position available, there is not much you can do. However, if you have an employee you trained or a talented individual that needs more of a challenge, are you recognizing their abilities? Will they be able to handle the responsibilities of the new job? Do you look internally first before looking outside? Do you encourage people to grow and reach for the next level? It is proven statistically that the companies with the best retention have company cultures that foster growth from within. Even if there is not a path of advancement business owners can still reward achievement by recognizing accomplishments. The old adage, “Praise in Public, Criticize in private” is a sure way to create a positive corporate environment. This is the least expensive and most powerful tool a business owner has for employee retention.
Going from Something
When people run from something it means they find their current work environment intolerable or they feel they are in a dead-end job. In the example of sales people, perhaps they have not performed as you expected and you have increased the pressure on them to perform. Or an employee may not feel appreciated for their contributions to your company. Any number of things can build up creating an unhappy employee. The best way to measure the morale of your team is to meet with them individually. This is best done as a private meeting where the employee feels comfortable enough to give honest feedback. Ask yourself, when was the last time you sat down with your receptionist or account manager and asked their opinion on something. When was the last time you met with your sales team to discuss their challenges and how to better support them? The lesson is to keep your employees involved and let them know their input is extremely valuable.
Going for Money
The final reason people leave a job is for more money. In some cases it makes sense and other times do not. Sometimes you feel you are getting a bargain while other times you feel that you have invested more into an employee then they have given back yet. That is fine but if you are not paying market salary for good people and above market for A+ players you stand the strong possibility of losing them. The economy is growing and many companies are starved for talent. If you won’t pay them what they are worth, someone else will gladly pay them more. Business owners should be pro-active on this and not rely on addressing salaries with count-offers. Once another company has offered to pay your employee what they are worth you have already lost the battle. Counter-offers have been proven statistically to not work out in the long run.
Every business owner should take the time to analyze their corporate culture. Employee retention pays huge dividends over time. Identify the weaknesses that would cause an employee to leave and develop a strategy to remedy it. Identify the strengths, the things that drew employees to you in the first place, and look for play upon them. And finally, compensate your team with competitive salary and perks. Corporate culture is a reflection of the business owner and who they are as a leader. How you view you employees defines how they view where they work. And your perception of your corporate culture may be vastly different from the perception of your people. Find out the truth and your employees will love you for it.
