March 12, 2018
“Employee turnover is expensive. At TRUST, our focus on improving efficiencies is geared toward identifying ways to offset those costs and one of them is turnover, and particularly how it relates to improving your WOTC numbers. It’s a simple fact – the longer employees work for you, the more your credit will be and building an engaged workforce translates to improved retention. Helping you identify ways to improve turnover, it’s part of our pledge of uncompromising service – it’s what we do.”
Alicia, Founder & CEO
March 2019 TRUST Consulting Group Newsletter
It impacts your company’s bottom line is so many ways – customer service, training costs and, maybe not a consideration previously, your Work Opportunity Tax Credit numbers. We are seeing turnover impact our clients’ WOTC this year in various ways.
Turnover, always an important issue for our clients, now is becoming a top priority as it is higher than ever in the restaurant industry.. In fact, the United States Labor of Bureau Statistics say that the restaurant sector has a 73% annual turnover rate. If you hired 100 people this year, you most likely had to replace 73 of those.
This poses two big problems for your business:
- An increasing need to find new employees at a much faster pace, in a harder environment due to higher minimum wage and low unemployment rates. I’d like to change this to “in a more challenging environment”
- Employees that are certified for WOTC are not qualifying to receive a credit due to not working enough hours. Each qualified WOTC recipient can be worth up to $2,400 or more to your bottom line.
There are many ways that you can meet this issue head on and start reducing that turnover in your business.
TRUST has new options for your consideration that go Beyond onBoarding. It just makes sense we team up with our partners to help with turnover – higher WOTC numbers and a healthier bottom is a win-win for both of us.
This month, we are focussing on the post-hire process that TRUST has rolled out as part of our Pro-Plus onBoarding system.
As a busy restaurant owner, sometimes that laser focus is on your customers and feedback from your employees can be lost in the shuffle of other prioritizes or maybe there isn’t an efficient way for your team to gather that information.
TRUST has made it easier for you to also focus on your employees, andhas rolled out two new electronic forms – a 30-day review and an exit interview – that allow you to hear directly from your employees without taking valuable time from you and your management team.
The 30 Day Review
Our 30 Day Review is sent to every employee automatically after their first month of employment with the goal of:
- Providing a voice for your employees, which allows them to participate and feel connected to your organization.
- Giving your leadership team insights into the employees, allowing them to better connect and ensures an efficient operation.
- Proactively identifying coaching opportunities in certain restaurants regarding training and safety.
- This review can be customized for your organization.
What Our Partner Say
“Trust Consulting Group has been instrumental in our hiring and onboarding processes. Their powerful online system is easy to use. We can hire, onboard, and verify information in one day, getting our new employees on the floor and helping our customers as quickly as possible.”
“I will say that the improvements you have made to your web site in the last few months are great and have made it much easier for us to stay on top of our on boarding. ”
“Have changed how we on board our employees for the better. They have the best customer service around. Love working with them and you will too.”
“Every concern and/or question we have had has been answered in a timely manner by your fabulous staff. Thank you for following up and providing us with additional updates your organization offers.”
The Exit Interview
Our Exit Interview Questionnaire gives you additional insight into why people are leaving your organization. Are you paying below what other businesses competing for the same employee are in the area? Are there not enough employees in the restaurant, creating burnout? Is there coaching opportunities for the management team?
Why people are leaving is a valuable took for any organization and will allow you to proactively make changes to reduce turnover in the future.
Why Correcting Turnover Is Important
Turnover is inevitable in the restaurant industry and there are may parts beyond a business owner’s control.
However, there are ways to lesson the impact that turnover is having on your business. Finding out at 30 days how employees are feeling about their employment not only can bring you peace of mind but also new ideas about how to retain employees. Identifying patterns in why employees leave allows you to resolve the reasons behind retention and turnover.
With our new electronic 30-day review and exit interview services, TRUST Consulting Group continues to work with you to maximize your bottom line through our integrated, efficient and powerful systems.
If you would like to learn how you could implement these strategies into your onBoarding
Trust has been monitoring the situation in Congress concerning the Tax Extender Bill and specifically the Empowerment Zone tax credits.
A new bill has been introduced that would provide a 2 year extension of this credit which ended on Dec 31, 2017 for an additional two years, ending on Dec 31, 2019.
This is only a proposal and has not been ratified and we will need to wait until it is passed. But this is good news that it is moving forward. You can read the proposal here:
TRUST is an approved WOTC provider for SNAG.
Snag has just recently announced that Trust Consulting Group is an approved and recommended WOTC partner. You can see the announcement here –
What Is In The Works!
We have listened to our partners and making an improvement where you will be able to manage your own users, instead of contacting TRUST. This is in development, and we will be sending out an announcement when completed.