With Small Business Saturday and the holiday retail season approaching, there is no better time to add gift cards and e-gift cards to your sales arsenal. Accepting gift card payments can mean great profitability for your small business, because there are two sales tied to each gift card transaction (one for the giver and one for the receiver) and there is an opportunity to simultaneously reward loyal customers while bringing in brand new ones.
Recruiting and hiring a great employee takes time, effort and a little luck! Retaining that same employee takes as much effort, if not more, to keep them working for you. There is a report from the Center for American Progress that says replacing an employee costs on average 20 percent of that employee’s annual salary. That might not seem like a huge number, but that cost is on top of what you’ll have to pay your new employee.
There is an old saying that there is no “I” in team, meaning the power of a team is more powerful than one individual. That’s true in most cases, but a recent study from Harvard Business School, Boston University’s Questrom School of Business, and Northeastern University might show that forced, structured collaboration could hurt your team’s problem-solving abilities over a less structured collaborative environment.