“Our employees are our greatest asset.” Countless CEOs have made this statement, and no doubt, most of them believe it. The actions of many companies, however, say something else. With the unemployment rate (both nationally and in California) at historically high levels the past few years, some companies have adopted...
In our last article, we talked about the importance of planning early and adequately for business succession. Failure to do so can have serious negative implications for both the business entity and the owner. One of the first steps in succession planning is identifying your primary succession goals. This will help...
Healthcare has obviously become a hot-button topic over the past couple of years. The controversial Affordable Care Act passed in 2010, but if anything, this stirred up the healthcare debate even more, with Republicans vowing to “repeal and replace” the Act if they regain the White House and Congress. While...
One of the biggest financial mistakes a company can make is to misclassify its workers. From your perspective, it might not be a big deal whether those who work for you are considered to be employees or independent contractors. But the IRS has a very different perspective—and getting worker...
In order to maintain a successful business, it is crucial to have not only an attractive product or services offering, but also be able to recruit and maintain a group of productive, qualified employees. There are many factors involved in reaching these goals, but often overlooked are competitive employee...
Operational analysis is conducted in order to understand and develop operational processes. Using various mathematical models, statistical analyses, and logical reasoning methods, operational analysis aims to determine whether each area of the organization is contributing effectively to overall performance and the furthering of company strategy. Most notably, operational analysis...
Organizational change strategies such as rightsizing and restructuring are designed to transform companies into more efficient, agile, customer-driven organizations. However, these processes have both short-term and long-term consequences. Before undertaking a rightsizing/restructuring program, senior management should take pains to communicate the vision, process, expectations, and intended goals. Restructuring/rightsizing is a...
Pay policy plays a significant role in helping firms achieve organizational excellence. A carefully designed, well executed incentive compensation program will enable a company to attract, motivate and reward top-notch employees; sustain a creative, performance-driven work environment; and support behaviors that align with the organization’s business objectives, marketing goals and overall...