The term “melting pot” first became popularized in America more than 100 years ago. When a play by the same name opened in Washington, D.C., on October 5, 1908. That production portrays a Russian immigrant escaping violent upheaval. It lays out the protagonist’s dream of a society free of any ethnic divide.Around the time of the 2020 U.S. Census, it’s expected that more than 50% of this country’s children will be part of a minority race or ethnic group. With Americans’ genetic makeup more varied than ever before, your staffing efforts must support and mirror that mix. But ensuring diversity is more than just a buzzword takes commitment to the cause. Here are three actionable ways that you can strengthen your strategy of retaining a diverse staff.
If you think attracting new customers is tough, try retaining the ones you have. Not only must you have enough brand cache to get them in the door, but you have to offer a quality product and a good enough experience to make them want to come back. Hit on one or two of those, and you might have a customer on your hands. Hit on all three, and you might have a customer for life. With the rampant rise in popularity of online shopping, some brick and mortar locations have found a need to constantly angle for new ways to increase traffic into the store.Given the fact that some estimates peg the cost to attract a new customer at up to seven times the cost of what it takes to retain one, the smartest brick and mortar businesses put a heavy emphasis on deepening customer loyalty. If you’re looking for new ways to jumpstart your own customer retention efforts, you’re in luck. We’ve put together a list of three of our favorite methods below.
Life as a small business owner is one filled with peaks and valleys. There’s the rush received from an influx of new orders. The thrill of payments posting to your account. The disappointment when a customer isn’t happy and the despair when times are slow. Most realistic small business owners recognize that these experiences are not only possibilities, but each is likely to happen at some point. Yet, what so many seem to overlook or fail to prepare for are those pesky last-minute cancellations. The best way to tackle these is with an established cancellation policy.A well-written cancellation policy is like insurance for a small business in that it protects you when you’re most vulnerable. Concepting and drafting that cancellation policy template is also a lot easier than most people think. If a customer blowing you off has burned your business in the past, you’ll want to read our tips below on creating a simple but effective cancellation policy.
Cash will always be king, but credit cards are the ace for millions of Americans across the country. In fact, more than 70% of American households have at least one general credit card. Despite the credit card’s place in today’s society, the widespread popularity of “charging it” is actually a relatively new phenomenon. Retailers in the 1970s were hesitant to accept credit cards. Consumers balked at embracing them out of fear of being on the hook for unauthorized charges. But that all changed with the Fair Credit Billing Act (FCBA) of 1974.This amendment to the Truth in Lending Act instilled consumer confidence. It provided protection from unfair billing practices and identity theft. FCBA was also responsible for the creation of what we now call a “chargeback.” As a small business owner, you might have heard the term before, but you might not be sure how to handle them. Read on to learn more about what a chargeback means for your business and how to avoid them.
There’s a common belief that employees leave jobs because they want more money. In our heads, we often think of these emotionally charged decisions in the way that they’re portrayed in pop culture. We picture scenes that involve the ironfisted boss rebuffing the underdog employee’s request for a modest raise. The reality is far less dramatic. In fact, only about 12% of employees leave their jobs over money, but nearly 80% exit because they don’t feel appreciated. To put it bluntly, people quit bosses, not companies. Respectful, inclusive, and collaborative working environments go a long way to improving your overall retention and employee productivity.
Contrary to what some may believe, there are still effective methods of advertising your small business that don’t involve the internet. If you just let out a gasp and clutched your chest, we understand why you’d feel that way. Between display, social media, search engine marketing, remarketing, video and email, the tried-and-true approaches of yesteryear seem all but forgotten. But the truth is, tactics like direct mail can still work if done in the right way.Postcard marketing is a perfect example. In one survey conducted in the UK, 57% of respondents said that postcard marketing made them feel more valued and that a postcard created a more authentic relationship. As it turns out there’s something to be said for a tangible ad. One that you can hold and put on the fridge. If using postcards is an approach that you’re considering adding to your marketing mix, you should be aware of both the pros and cons.
When you’re a small home service business it can feel like you have the weight of the company on your shoulders. Not only performing duties that your customers require, but you also have all the backend obligations. Wearing that hat means that you must stay plugged-in to all aspects of company operations. It can be challenging to keep track of all of these moving parts. If there is one area where you simply can’t afford to make a mistake, it’s in the handling of finances. WHERK Home Service Software is helping businesses like yours control, manage, and report on their finances. Here are just a few ways showing how.
As a society, there are a few things we do more than publicize our likes and dislikes. We love to leave glowing restaurant reviews on Yelp. Singing the praises of our favorite running shoes to friends at the gym. We vent about a car dealership mishap or rude cashiers at the grocery store on social media. And though we all seem to be talking all of the time, it turns out most of us are actually listening too.Statistics show that 83% of Americans say that word-of-mouth recommendations from a friend or family member make them more likely to buy something. That statistic is even more pronounced when you look at younger demos like Millennials. They are 115% more influenced by word-of-mouth than traditional advertising. Word-of-mouth marketing can lead to so many conversions. Many small businesses have looked for ways to capitalize on customers’ fervent fan-hood. The most obvious method is through a referral program. With most small business tactics, there’s hardly a one-size-fits-all approach. In hopes of spurring some ideas that might work for your business, we’ve put together a list of a few of our favorite referral programs.
We all tend to throw the term “heartbroken” around with regularity. We use it to describe the end of a relationship when we lose a loved one, and even when we’re sad about our favorite team losing. However, you don’t often hear someone say they’re heartbroken over their work/life balance.—but it turns a lot of people actually are.
Basically, bosses that serve as a source of stress are literally breaking the hearts of their employees. An international study conducted by Sweden’s Karolinska Institute found a connection between leadership behavior and the prevalence of heart disease. So, as a leader, what can you do to make sure your employees are happy and productive? Here are a few quick ways to ensure your employees enjoy a healthy work/life balance and a positive company culture.
aIn September 2018, the Bureau of Labor Statistics reported the median number of years that wage and salary workers had been with their current employer, was just over four years. What does this all mean? It means the workplace is now a jungle gym. Gone are the days of 50-year employment tenures with one company. Today’s workforce understands that growth and advancement come from outside their own organization. Nowadays, they’re not afraid to make a move.
Job-hopping often puts the employer in a bind. Doing the employee shuffle can result in a loss of productivity and time. The recruiting and onboarding process can lengthy. Employees tend to think outside of their salary when it comes to their overall satisfaction at work. Things like free coffee and foosball tables, office design, and amenities have become increasingly important parts of the equation. If you’re struggling with employee retention, here are three easy ways to design your office for success and employee satisfaction.