Professional Development

8 Employee Retention and Recognition Ideas for SMEs

Employee retention may seem costly for a lot of SMEs. But did you know that employee turnover costs your business even more? A recent study conducted by the Center for American Progress estimated that: [edgtf_unordered_list style="circle" animate="no" font_weight=""] It costs 16% of the annual salary to replace an employee at a high-turnover, low-paying (under $30,000 per year) job. Replacing a $10/hour sales assistant, for instance, will cost your business around $3,300. Replacing someone on a midrange position (earning $30,000 to $50,000 a...

How to Use Positive Reinforcement in Employee Training

What is the best way to motivate your team and encourage them to be more proactive when it comes to learning and professional development? There’s one great method often dubbed as “the most powerful leadership tool” and it is positive reinforcement. What is Positive Reinforcement? Positive reinforcement is the practice of giving a desirable or pleasant stimulus (reward) after a certain behavior, to reinforce its recurrence. It simple words it stands for strategic praising to encourage certain actions among your employees. However, positive...