Five New Year’s Resolutions for Employers
The start of a new year brings the inevitable personal New Year’s Resolutions. While those are often fleeting, this can be a great time for employers to assess their priorities and take action to build a great team. Here are my recommendations for five New Year’s Resolutions that will help strengthen your business in 2020 and beyond.
1. Hire locally
Studies show a strong link between hiring locally and employee retention and employers understand that a big part of job satisfaction is a good work-life balance. Workers with shorter commute times are also more likely to stay at a job and work more productively in jobs that offer better work/life balance.
To find the perfect SCV candidate for your job openings, visit LiveWorkSCV.com. This is a free resource offered to businesses and residents of the Santa Clarita Valley.
2. Foster diversity
While we are on the subject of hiring, there is strong evidence that companies that foster diversity are more likely to be successful. According to a recent study from Korn Ferry and the Rockefeller Foundation, companies that have both gender diversity and leadership that is invested in cultivating an inclusive environment, increased their innovation, overall performance and profitability. All businesses should be proactive about encouraging diversity on their teams and providing ample mentorship and support, so women and minorities have equal access to management opportunities and upward mobility within your organization.
3. Focus on employee training and staff development
With unemployment rates holding steady at an all-time low, it can be difficult to find the employees you need. That’s why training your existing workforce is vital. It not only helps them grow in their knowledge and skills, but it increases the likelihood that they will stay with your company. There are many excellent resources for SCV employers and residents who need to boost their job skills.
College of the Canyons offer free career skills training through their School of Personal and Professional Learning. Learn more by contacting PPL@canyons.edu. A host of low cost technical and business customized training for employers is offered through COC’s Employee Training Institute (ETI). Learn more at www.http://canyonsecondev.org/eti/.
4. Get up to date on employment law
With employment laws ever changing it’s vital to stay ahead of the curve. All employers should attend Poole, Shaffery & Koegle’s 2020 Employment Law Update on Thursday, February 4. Topics include independent contractor classification, meal and rest period claims, overtime, sexual harassment training and arbitration agreements. Plus, you’ll get a preview of new laws for 2020. We are encouraging all employers to take an Employment Law Survey in advance of the event. Results will be shared during the update. Visit www.scvedc.org/survey to take the survey.
5. Show your appreciation
While it might be obvious that employees who feel appreciated for their work are happier, you may not realize that happy employees are on average 12% more productive than their less satisfied counterparts. Recognizing your employees for their efforts also builds trust and a deeper connection to both the leadership team and their peers. Finally, employees who feel appreciated are also more likely to stick around. Sam Walton said, “Nothing else can quite substitute for a few well-chosen, well-timed, sincere words of praise. They’re absolutely free and worth a fortune.” Recognition and encouragement will go a long way to building a strong, motivated team that will propel your company to new heights in the new year.
The Santa Clarita Valley Economic Development Corporation (SCVEDC)is a unique private / public partnership representing the united effort of regional industry and government leaders. The SCVEDC utilizes an integrated approach to attracting, retaining and expanding a diversity of businesses in the Santa Clarita Valley, especially those in key industry clusters, by offering competitive business services and other resources.