Author Archives: CorpStrat News

4 Ways to Better Take Care of your People

An organization really is nothing without its people. We’re big believers in cutting edge HRIS technology but if it’s not accompanied by great relationships, we know a company simply can’t thrive. We care about facilitating the right ecosystem in which your team can create relationships with one another that truly add value to both their work and overall well being.

We want companies and professionals to advance and thrive, and we believe the key to this is ensuring both your team and clients feel seen and appreciated. Here are four of our top tips for taking better care of your people:

1. Hire the right candidates.

This might sound like a no brainer but you’d be surprised at how easy it is to hire a “rock star” on paper who isn’t a team player. Take special care to check that your prospective hire matches your core company values. You want someone who is committed to having meaningful relationships in business and can relate their skills and expertise to the benefit of your organization. Hiring the right people is especially important if the position calls for interfacing with clients; every person you hire becomes a representation of your company and its values.

2. Take every opportunity to reward and recognize.

Employees are by far your greatest asset and it’s important to be intentional about making stellar workers feel appreciated. When your team members help a customer or client achieve their goals, make them feel seen and rewarded. Small things like a free lunch, holding a happy hour in their honor, or a gift card to their favorite coffee shop can have a big impact.

3. Don’t treat clients like they’re just business assets.

We strive to be an important ingredient in our clients’ success, but we never want to treat them like they’re just a number on the page. You never know where a solid client relationship might lead to. So many of our current friendships, business connections, and referrals have been the direct result of cultivating a genuine relationship with our clients. Encouraging your team to form relationships with their clients that are authentic, caring, and helpful pays off no matter what.

4. Create a culture that encourages lasting relationships.

We are always encouraged when our employees form strong relationships with one another. We know their strong connections make us a better team and allow us to work together better than ever. In addition, when our clients engage and form friendships with our team, we feel that it really completes the circle both emotionally and economically.

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We firmly believe that creating meaningful personal relationships goes beyond any sort of efficiencies technology can create. If this resonates with you, let’s talk. Call us (818) 377-7260 or email us at marketing@corpstrat.com.

6 Tips to Successfully Attract and Retain Employees in 2022

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The workplace has been transformed by the pandemic, now employees have higher expectations for compensation, benefits, and workplace flexibility. Due to this, employers of all sizes are facing attraction and retention challenges like never before. Compared to 2021, organizations are experiencing a 3x increase in difficulties attracting employees and a 4x increase in difficulties retaining employees.

Successful efforts to win over new employees can require investments of time and costs that are higher than ever. Most businesses don’t have a lot of resources to invest in attracting and competing with large, well-capitalized organizations so it’s time to think outside of the box. We encourage you to get creative. Don’t be afraid to risk being unique and different in order to attract the talent you need to achieve your goals.

We’ve put together our top tips to help you successfully attract and retain employees in 2022:

1. Review your Benefits

Health insurance has to be a vital part of your compensation package but don’t stop there. Build out a well-rounded benefit offering that will wow your prospective employees. Include vision, dental, life, disability, 401K plans, and more. After you put together this plan, make sure you have ways to communicate them clearly to your prospects.

2. Review Your Recruiting and Hiring Process

Make sure your recurinting and onboarding process is welcoming and engaging from beginning to end. New employees will notice the difference and it will help set the tone for their time at the company.

3. Offer Bonuses for Employee Referrals

Expand your recruiting to include your employee base. Offer employees a cash bonus for referrals that are hired to the team. If your employees love where they work, they’ll be motivated to refer their friends.

4. Focus on Developing Your Employees

Include educational reimbursements, extracurricular learning, and skill advancement opportunities in the areas of their interest.

5. Establish a Hybrid Work Environment

There’s no escaping it, flexible work environments are the new normal. Create a clear hybrid work policy that allows for flexibility between in-office and remote work when an employees’ positions allow for it.

6. Focus on Enriching Workplace Culture

Continue to work on your workplace culture for employees who come to the office. Help your team foster community by encouraging friendship. This can include free lunches, team happy hours, or company-wide social events that help to bond your staff together and build camaraderie.

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Need help with improving your company culture? Contact us at marketing@corpstrat.com

5 Tips for Bringing Your Team Back to the Office

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After over two years of working remotely, we know a lot of employers are grappling with if and how to bring their teams back into the office. They’re faced with a barrage of questions: Should they bring employees back full time? Keep them remote? Should they offer set hybrid programs or let employees decide their own schedule? The risk of losing great employees by pushing them to return to the office looms large however, full-time remote work doesn’t suit every business.

The answer is there is no right answer. It’s almost impossible to establish a protocol that makes sense for everyone. The bottom line is companies have to get creative with how they balance safety, productivity, and culture as we begin returning to the office. We do think companies will likely employ various hybrid work iterations for the foreseeable future.

Here are our best ideas to help find balance between encouraging company culture while your team is remote and building rapport back in the office:

1. Give Employees Their Own Work Spaces.

Try rewarding employees with their own work spaces as opposed to the shared work spaces that are so popular nowadays. The pandemic has created all sorts of uncertainties about touching other people’s stuff.

2. Offer up free lunches.

We know there’s “no such thing as a free lunch” but we’ve seen companies have tremendous success when they offer their employees meals as a gesture of appreciation. Sending your remote employees a voucher for a food delivery app and an invitation to join a team Zoom hang out is a great way to allow your team to interact more casually. When your team is in the office, providing free lunches allows people to connect with each other. We’ve found that this desire for connection is greater than ever since the pandemic began.

3. Create Memorable Moments to Connect

Try and use culture building opportunities as frequently as possible. This is where employers can really get creative. Consider setting up both remote and in-person fun experiences like an Escape Room or a virtual Pub Quiz. Give away memorable gifts, company merchandise, or a welcome back to the office care package so employees feel that their experience is being valued.

4. Provide Gas Cards

Send gas gift cards to anyone who comes into the office on a regular basis. Gas is expensive right now so this is an easy win because it makes employees feel valued for their efforts.

5. Use Social Media to Show Off Company Culture

Make sure your employees are proud of the team that they’re on and feel included. One way to do this is share notable team experiences on your public Social Media channels and in your internal team communications, like a Slack channel or team newsletter. You’ll be able to show the community being built back up in the office and ease the minds of employees still on the fence about returning to the office.

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Need help creating positive Company Culture? We can help with that. Contact us.

California Competes: What Is It and How Can You Benefit?

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California Competes: have you heard of it? It’s a state sponsored opportunity specifically geared towards companies located in California. The California Competes Tax Credit (CCTC) is an income tax credit available to businesses that want to relocate to California or stay and grow in California. Essentially, it’s an income tax credit available to businesses that intend to remain in California and grow their employee base over the next five years.

The CCTC is accepting applications from companies from any industry, of any size, and at any location in California. The CCTC has $180 million of credits available per fiscal year through 2022-23 with a minimum credit request of $20,000.

Credit awards are based on a number of factors such as:

Number of jobs created
Compensation paid to employees
Amount of investment
Duration of proposed project and commitment to remain in the state
Opportunity for future growth and expansion
Overall economic impact
And more

If this if of interest to you, consider submitting a business plan that includes your plan for growing your company and retaining employees in the state of California. The program will provide an income tax credit to companies that grow populations and they’ll even co-op investments in people and technology. The program opens for new applicants once a quarter.

For more information and to apply: https://business.ca.gov/california-competes-tax-credit/

What Can You Do about Rising Healthcare Costs?

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Healthcare costs are rising. Experts are predicting a 5-7% increase by the end of 2022.

Over the last couple of years during the pandemic, most people deferred health care services. Elective treatments like knee surgeries or hip replacements were either postponed by their doctor or hospital or were cancelled by the employee. Combined with the early part of the pandemic when the federal government was paying for all COVID related claims, taking employees off the liability of the insurance company, you now start to see why we’re seeing a humongous increase in consumption of healthcare across the country. Government’s no longer paying for COVID and people are beginning to access care they’d previously put off.

This increase in health insurance premiums is happening at exactly the wrong time, as employers are trying to attract and retain talent in one of the tightest labor markets ever. So, what can you do as an employer who’s looking to balance the rising costs of healthcare with wanting to provide rich benefit programs to attract and retain your staff?

Here are four strategies we think should be considered:

1. Partial Self Funding

Take a fresh look at partial self funding. This is a newer approach in California and they’ve traditionally been limited to larger employers, but they’re now being offered to companies with as low as 25 employees. In these programs, employers and the insurance company agree to share in the basic cost of care and administration, with the opportunity to reduce claims and save money. These are a great option for employers who are interested in being proactive in helping their employees be healthy, stay healthy, and manage their health.

2. Newer Companies in the Marketplace

A new insurance company has come into the marketplace and has really a different approach to offering healthcare; we think it’s what the future of healthcare looks like in this country. It may not be for everybody but for the right employer, this could be a great fit. Learn more about it here.

3. High Deductible Health Plans

HSAs and high deductible health plans, as they are referred to, are currently being used by almost 50% of employees across the nation. On the surface, these plans might seem unattractive in a tight labor market because they come with $4-5K deductibles. But there are a lot of different strategies out there an employer can put in place that can soften those deductibles. They can also put in other benefits to make up the difference, contact us to learn how.

4. Wellness Programs

No matter what industry you’re in, what size your company is, or what demographic you employ, integrating wellness programs is going to impact your population both culturally and physically. In the long run, this is going to provide more opportunities for your company to potentially leverage wellness as a cost savings tool as health plans evolve. Currently, insurance companies are talking about changing health plans to include lower rates if companies include a wellness program. It hasn’t been implemented yet but it’s on the horizon.

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Early indications are that we could see increases of up to 20% in both the employer and individual market in the coming year. That’s a huge cost. So, don’t have this conversation at renewal when you’re staring at a 20% rate increase, trying to figure out what to do. Have the conversation now so you’re working with someone you can trust who knows the market well and has a solid strategy going into the renewal.

If you’re interested in some new ideas in healthcare, consult with us today to learn more about how we can make these plans work for you and your budget. Email us at marketing@corpstrat.com or give us a call at (818) 377-7260 today.