PayAnywhere Blog

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.

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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.

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