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Employee Retention of Forum Communications -
April 9th, 2011
Forum Communications Company is a media firm based in Fargo, North Dakota. The company prints a number of newspapers in North Dakota, South Dakota, Minnesota, and Wisconsin, including The Forum of Fargo-Moorhead.
The company also owns Fargo radio station WDAY-AM 970 (though it no longer owns WDAY-FM 93.7) and four ABC-affiliated television stations in North Dakota, best known for pre-empting most NBA Countdown shows on Sunday Mornings. The company also owns a CW affiliate in Fargo.
As of June 7, 2006, Forum Communications announced the purchase of rival newspaper Grand Forks Herald as well as Duluth News Tribune.
In May 2009, Forum Communications ceased publication of two of its newspapers, the Lake Elmo Leader and the Stillwater Courier.
Communication enables better customer service. Only informed staff will be able to convey accurate information to your customers
Communication permits clarity of purpose. The critical question many employees ask is, “Why am I here?” Every organization encounters both planned and unplanned change. Your ability to navigate change successfully is linked directly to whether employees know your expectations and understand their connection to the company and its goals
Communication enhances employee motivation and dedication to the company. Talking regularly with employees lets them know they are a valued part of your team. If you can demonstrate to your staff that you depend on their input, they will assume ownership of the company's goals and eventual success
Communication fosters teamwork. Staff from various departments may feel they have competing work objectives. Communicate a company-wide mandate so that all team members share the same ultimate goal. Then, encourage communication among staff to ensure that all energies focus on that goal
Communication inspires productive staff input. Consider the wealth of information your staff may be privy to that you are not collecting currently. Any bit of feedback has the potential to make a huge difference in your bottom line
Communication demonstrates integrity and honesty about you as a leader. Staff who sense that information is being kept from them will fill in the blanks with negative perceptions. In fact, not communicating with staff is a sure way to breed mistrust. You'll never be able to prevent rumours altogether, but you can minimize them with an open information policy
Statutory benefits: These include paid vacation, holidays and overtime, and Canada Pension Plan (CPP), Employment Insurance (EI) and Worker's Compensation (WCB) premiums. As these are required by BC and/or federal employment standards, most employees will take them for granted. However, they do present a real cost to employers, which must be factored in when designing a compensation package.
Provincial Health Care (MSP): While not required by law, many BC employers cover the cost of employees' individual health care premiums or pay a portion of it.
Private insured benefits: Many employers choose to bear the additional costs of life or accident insurance, short- or long-term disability pay, extended health care (prescription drugs), dental and optical care, and other health-related services.
Other common benefits: Employees may also be looking for you to contribute to retirement pensions, employee assistance programs (counselling), and tuition reimbursement for career development courses.
In many cases, employers are expected to bear some, if not all, of these program costs. Depending on what benefits other employers are offering, if you do not offer the same or better, you will differentiate your organization for the wrong reasons.
“Fringe” benefits: To really set your company apart, think about giving employees a fitness reimbursement (e.g., $100 toward a gym membership), covering transit costs, or providing job sharing or flex-time arrangements
Be creative to get the most mileage out of fringe benefits. What perks can you offer affordably, while supporting your organization's goals? You can use your own company's services to attract and connect with your staff.
Restaurants, events/attractions organizations and accommodation properties can easily provide free or discounted services to employees and their families and friends. Purchase discounts are an easily administered benefit, and are a smart marketing tool as well. (Remember, your employees are your most important marketing channel.)
Unique benefits help show you value your employees, yet remain affordable options for small businesses. Giving staff these perks is your chance to provide what no one else can. And, reaping the rewards of a good product or service will instill pride in your employees, improving your guest services in the long run.
Employee compensation and retention is directly related to employee satisfaction. In good times and bad, employees have a basic need to work where they feel their efforts, expertise and input are appreciated. Likewise, they want to receive fair compensation for their worth. Use compensation and retention strategies to retain valuable employees and increase the value and strength of your business.
Employee Retention Tips: Knowing how to retain good employees is important in the workplace. Here are 22 employee retention tips and office morale boosters to engage with and retain valuable employees. A high staff turnover is highly disruptive and costly to business. Companies need to spend more on recruitment and training.
It is good practice for organizations to devise employee retention strategies, employee retention programs and employee retention plans. Online you can get employee retention tips and employee retention ideas, such as a ‘critical skills retention bonus’. This is a financial bonus paid to keep employees who have particulars skills and experience.
Staff can be graded at applicable levels and increase their salary by attaining the next grade. The benefits are tri-fold, the company increases its skills base, secures top professionals and enhances its business reputation. An effective employee orientation program together with a good employee feedback program is also helpful in outlining salaried employee rights, reducing misunderstandings, obtaining feedback and ultimately retaining employees.