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A Micro-Entrepreneur's Most Valuable Resource
According to the U.S. Small Business Administration, there are approximately 25 million small business in the United States. They account for 47% of all sales, 55% of innovations, and 35% of all federal contracts. And the rate of small business...
Creativity Management – Measurement, benchmarking and Improvement
Contrary to common perception, creativity can be made tangible, measurable and useable. In terms of measurement, benchmarking and improvement, the first step is to decide on definitions, the second is to decide on methods of measurement and finally,...
Great Ideas And Tips For Entrepreneurial Success From Jeff Bezos Of Amazon.com
For ten years the world has been watching with Awe and
Admiration the Phenomenal success of Jeff Bezos the Founder and
CEO of Amazon.com.
The goal of each and every Entrepreneur be they Home Based
Business or not is to achieve success and...
It’s Your Ship - A Book Summary
This article is based on the following book: It’s Your Ship "Management Techniques from the Best Damn Ship in the Navy" By Captain D. Michael Abrashoff Published by Warner Books, 2002 ISBN 0-446-52911-7 224 pages A challenge for every organization...
Marketing - The Way To Make What You're Really Worth
You only have so much time in a day right? So wouldn't it make sense to focus as much of your time as possible on the things that produce the highest payoff. I don't know about you but most small business owners are do-it-yourself types and get...
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A Financial Case for Leadership Development
In the competitive world of business, companies may decide to
forgo leadership training in order to cut costs. However, a
high-quality Leadership Development course can save six figures
off a company's bottom line each year. Not only does a company
need to vie for its share of today's market to keep itself
profitable and successful, but it must also compete to keep its
biggest investment, its employees.
In a recent Bureau of Labor Statistics Report, the United States
Department of Labor stated that the median tenure of employees
ages 25 to 34 was 2.9 years. They also reported that management
and professional occupations, with the highest median tenure
among major occupational groups, was only 5.0 years. Consider
then, the cost of employee turnover.
A company should calculate the replacement of an employee at
150% of the employee's annual total compensation figure, and
250% if the employee is in a managerial or sales position. This
figure includes lost productivity, training, recruitment,
temporary replacements, either through hiring temporary staff or
overtime incurred by other employees, and the actual cost of an
employee leaving. Simply put, if your company's average employee
compensation package is $50,000 then the average cost for the
loss of an employee is approximately $75,000. Consider also that
if your company maintains a workforce of 1000 people and a
yearly turnover rate of 7%, then your annual turnover
expenditure will be approximately $525,000 a year. Over a period
of 5 years, this figure can easily top two and half million. (To
see a break down of costs see our employee
turnover.) Wouldn't companies be better off using this money
in developing leadership and innovative ideas to stay ahead of
the competition? The answer will be a resounding yes.
So how does a company keep its quality employees?
A first step would be to discover what an employee feels is
important in his or her job. CMOE surveyed 327 employees about
their supervisors (117) before these supervisors attended a
Leadership
Development Course. The survey asked employees to give their
opinions about what their supervisors were doing right; and in
what areas could their supervisors improve. Twelve companies and
agencies participated in these survey evaluations, representing
the fields of banking, education, government, manufacturing, and
sales. The data showed that employees want to be engaged,
trusted, and responsible for their contributions. They also want
to share in the emotional benefits of being linked with a
growing and successful business. Good leadership is the key to
fulfilling these employee needs.
Another step is to put in place a team of leaders who have the
skills to inspire a commitment from their employees to accept
responsibility for and have a vested interest in their company
and co-workers. Unfortunately, too many managers have knowledge
about good leadership skills and still do not understand how to
put this knowledge to work in the most effective manner.
Training professionals can help these managers develop their
knowledge into successful skills. An experienced leadership
training company can also help companies develop an effective
Leadership Development Course specific to a company's needs. The
result will add dollars to the bottom line by keeping valuable
employees, increasing productivity, and creating an environment
conducive to innovation that will keep the business ahead of its
competition.
The Center for Management and Organization Effectiveness can
help you develop effective leaders through our Leadership
Development Courses such as: Applied Strategic Thinking,
Coaching Skills, Team Building, and Transition into Leadership.
About the author:
Martha Rice is a design team leader for the Center for Management and
Organization Effectiveness. She has degrees in both English
and Communication and has over twenty five years experience in
administration.
If you would like to learn more about any of these or other Leadership
Development Courses, please contact a represent
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| DTI - Welcome to the DTI's Innovation Home Page |
| The DTI is working to stimulate a significant increase in innovation throughout ... It covers Living Innovation, web streaming of a series of high profile ... |
| www.dti.gov.uk |
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| Innovation - Wikipedia, the free encyclopedia |
| An innovation in this light occurs whether or not the act of innovating ... A convenient definition of innovation from an organizational perspective is ... |
| en.wikipedia.org |
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| National Innovation Website |
| The Department of Industry, Tourism and Resources has developed this website to raise awareness of the importance and benefits of innovation and ... |
| www.innovation.gov.au |
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| Innovation, creativity and brainstorming resources from ... |
| A comprehensive site designed to provide busy entrepreneurs with a focused collection of the best resources on innovation, creativity, and brainstorming. |
| www.innovationtools.com |
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| Innovation Weblog - Trends, resources, viewpoints from Chuck Frey ... |
| The Innovation Weblog - Valuable trends, resources and viewpoints in innovation, creativity and brainstorming from Chuck Frey at InnovationTools. |
| www.innovationtools.com |
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| CORDIS: Innovation Portal: Home |
| This Innovation Portal is supported by DG ENTR of the European Commission, ... European Commission adopts new Communication on Innovation: on 13 September ... |
| cordis.europa.eu |
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| CORDIS: Promotion of Innovation: Home |
| This programme stands at the cross-roads of the Community's policies on Research, Innovation and SMEs. |
| cordis.europa.eu |
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| Innovation Network... leveraging innovation, creativity and ... |
| The Innovation Network is an association of companies and employees committed to innovation. The site features some interesting articles as well as some fun ... |
| www.thinksmart.com |
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| Business Innovation : Car Reviews, Online Gaming, and Product Branding |
| If your in need of great Online Gaming material, we carry up to the minute news and reviews for all of your favorite games and gaming systems. |
| www.businessweek.com |
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| Innovation - Life, Inspired | PBS |
| Learn about fascinating innovations, explore interactive features, submit questions to our experts, investigate resources and lesson plans, and more. |
| www.pbs.org |
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| Innovation.org - Welcome |
| Impact of Innovation Saving & Improving Lives Controlling Healthcare Costs Strengthening ... Future of Innovation New Medicines in Development Next Wave of ... |
| www.innovation.org |
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| Innovation: See what people are saying right now on Technorati |
| See all blog posts tagged with innovation on Technorati. |
| www.technorati.com |
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| Innovation Relay Centres - The World Largest Network for ... |
| Innovation Relay Centres giving advice on Innovation, Technology Transfer and Exploitation. Major European source for innovative technologies or new ... |
| irc.cordis.lu |
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| The Tech Museum of Innovation | Welcome |
| The Tech Museum of Innovation - Welcome! The Tech Museum inspires and educates the innovators of the future. |
| www.thetech.org |
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| Pages tagged with "innovation" on del.icio.us |
| CoDev 2007 - Co-Development for Business Growth: Open Innovation and Alternatives ... PDMA & IIR's 5th Annual Front End of Innovation ... |
| del.icio.us |
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| innovation |
| Publication highlighting the research activities of NUS. The site provides snippets of selected articles online, and provides a subscription form online. |
| www.innovationmagazine.com |
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| Canadian Innovation Centre |
| Services includes invention evaluation, technology due diligence, market research, and education programs. |
| www.innovationcentre.ca |
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| London INNOVATION :: Home |
| Maximise your business potential through innovation. Learn the secrets of successful business innovation in London. |
| www.london-innovation.org.uk |
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| Eric Von Hippel's Homepage |
| Downloadable Books. Democratizing Innovation (2005) ... The Sources of Innovation (1988). Free download of the complete book. Permission granted by Oxford ... |
| web.mit.edu |
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| Intel Innovation in Education |
| www.intel.com/education/ - 3k - Cached - Similar pages |
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