“I think the fast growth firms, as you said, they want to know and learn from their mistakes and just get better and better. And you can’t do that if you’re not informed..”
In episode #115 of Mission to Grow, the Asure podcast that serves as small business owners’ guide to cash, compliance, and the War for Talent, VP of HR Compliance and Learning and Development at Asure Software, Mary Simmons, sits down with host Mike Vannoy to discuss key survey findings, showing the stark differences between fast-growing companies and zero-growth firms, particularly around how they manage termination processes, exit interviews, and employment brand perception.
Takeaways:
- Employment Brand Matters: Companies with strong employment brands tend to attract top talent and maintain high employee satisfaction. Positive experiences in the hiring process and post-employment care resonate with future candidates.
- Post-Employment Practices: Having formal post-employment policies, like termination letters and exit interviews, correlates with business growth. These practices convey respect and professionalism, even during separations.
- Data-Driven Improvements: Conducting exit interviews and collecting real reasons for departures are essential for continuous improvement and compliance.
- Retention Impacts Revenue: Fast-growing firms prioritize learning from their mistakes through data, ensuring they continuously evolve their employment practices to enhance employee retention and compliance.