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How can Resource Management software help to reduce employee turnover

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Management Specialists

When employees leave a company, it severely impacts the productivity and efficiency of an organization. Thus, the management needs to undertake efforts to retain the talent pool and prevent the consequences of high employee turnover.

So, what is employee turnover?

It refers to the total number of employees who leave an organization, voluntarily or involuntarily, within a specific period. Multiple factors contribute to employee turnover, including  better compensation, benefits, or perks offered by other firms,  personal reasons like health issues, or relocation. Other reasons are lack of feedback and recognition, career growth, excessive work stress, disengagement, ineffective management, etc.

Regardless of the factors, turnover lowers organizational efficiency, declines brand reputation and client satisfaction, and even deteriorates performance. Thus, it’s imperative to reduce it by implementing robust strategies. This article highlights how resource management software can help you achieve the same.

But first, let us see how it impacts an organization.

How does high employee turnover impact an organization?

As mentioned earlier, high employee turnover directly impacts organizational productivity and profitability. In addition, it lowers workforce morale when they see their colleagues leaving. Besides, the existing employees are expected to share the work of the departed team members, which increases their workload leading to stress and burnout.

Excess employee turnover also impacts the bottom line as a lot of money is spent on training and onboarding new employees for the correct placement of the candidate. Moreover, the new employees need time to adapt to the work environment and become productive. In addition, when client-facing employees leave the company, it leads to dissatisfaction and decreased sales. Apart from these, high turnover rates lower a company’s reputation, and thus they fail to attract and hire top talent.

Therefore, it is necessary to implement the right tools and techniques to reduce turnover. A suitable resource management software helps to do the same.

Let’s see how

How can RM software help to reduce employee turnover?

As mentioned above, losing talent rapidly drastically affects the company’s functions. Implementing resource management software can resolve various issues and help you retain your valued talent.

Enlisted below are some ways:

  1. Allocate the right resource to the right job

When an employee’s skills do not align with the allocated task, they will be disengaged because they are not competent enough to execute it, adversely affecting the quality of work. Moreover, having an over-skilled resource for a non-critical position lowers morale, while assigning an under-skilled resource can cause delays and compromised quality. Therefore, competent allocation is necessary for maximizing productivity and enhancing employee engagement satisfaction.

A resource management solution offers 360-degree visibility using which managers can assess the skillsets, availability, capacity, and other attributes of resources on a unified platform. Then, they can perfectly match the resources with the right task. Thus, when your employees feel their competencies are deployed in the right place, they will feel motivated and continue with your organization.

  1. Prevent under /over utilization of resources

Over/underutilization of resources can result in decreased workforce productivity and performance. The underutilized employees exhibit disengagement as they are not tapped into their maximum potential. Similarly, when employees are overutilized, work and excessive stress cause burnout. These scenarios do not work in employees’ favor and, thus, will result in a turnover.

Therefore, it is necessary to ensure optimal utilization of the workforce. The resource management tool helps track the utilization levels of resources in real-time by providing a comprehensive color-coded heatmap. Managers can identify underutilized or overutilized resources and adjust their schedules based on this data. Additionally, they can mobilize them from non-billable to billable work, and enhance productivity, eventually elevating retention.

  1. Ensures effective bench management

Excessive bench size negatively affects the organization and the workforce. The benched resources are non-billable and do not bring any revenue to the organization. This deters their growth and lowers their morale. In addition, the lack of opportunities makes them seek better options outside the organization. Therefore, effective bench management is necessary to keep this repercussion in check.

The resource management software offers a people on the bench report that helps managers predict resources that will end up on the bench. Then, they can assign competent resources to billable or strategic work well before they hit the bench using the project vacancy reports. This ensures continuous productivity, which keeps employees engaged, leading to a long-lasting journey with the firm.

  1. Encourage resources to select their projects of interest

Often employees are given tasks that do not pique their interests. Thus, they will not show 100% commitment to the work, translating into a substandard result. Moreover, employees will be disengaged and start skipping workdays or seeking better appealing opportunities in worse cases. Thus, managers should course-correct and start considering their workforce’s input while allocating work.

Using the resource management tool, managers can publish open positions mentioning specific details such as skillset, qualifications, experience, cost, etc. These positions are notified to all relevant resources across the organization. The resource manager considers the interest and the skill sets of suitable candidates during allocation. Giving resources the work suiting their competency and interest enhances their morale and productivity.

  1. Promote employees to participate in cross-functional projects

Working on the same tasks and projects leads to boredom, disinterest, and disengagement. And as discussed earlier, disengagement is one of the primary reasons for employee attrition. Therefore, managers should provide employees with diverse opportunities to hone their skills and help them diversify their portfolios while keeping up the motivational levels.

The 360-degree visibility feature of a resource management solution helps managers deploy cross-departmental projects to employees within matrix boundaries. The centralized platform enables managers to pick the best resources regardless of their department and create a cross-functional team for a project . This collaboration helps employees to work on multifaceted projects and expand their horizons. Thus, when employees’ growth is taken care of, they are likely to stay with the firm for the long haul.

  1. Facilitates IDPs and upskilling programs

Professional development and growth are crucial factors that motivate employees to stay within an organization.  When these opportunities are not provided, it causes attrition. Therefore, managers must formulate Individual Development Plans (IDP) and upskilling programs to promote professional development.

Resource managers can access resource profiles and future project demands using resource management software. Thus, they will get a detailed account of demand and skills gaps. Managers can then formulate a customized development plan that aligns with the resources’ career goals and company objectives. In addition, they can provide formal training, shadowing, and on-the-job training opportunities to level up their expertise. Thus, they will gain more exposure and experience, ensuring successful retention.

Conclusion

An efficient and hardworking resource pool drives the success and profitability of an organization. Losing this specialized resource pool will lower organizational efficiency and reputation. Therefore, it is necessary to retain the workforce . The strategies mentioned above and a modern resource management tool can help you retain valued talent within the firm and ensure profitability and sustainability.

What strategies do you follow to reduce turnover?

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Business

Competitive Intelligence Tools You Need to Know About

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In today’s digital age, businesses can no longer operate in isolation. Fierce competition is now the norm, with new players entering the market and competitors looking to expand their offerings and reach. To thrive in this demanding environment, you need to be armed with information about your competitors and the more comprehensive marketplace. Knowing which intelligence tools are right for your business can be tricky with so many different intelligence tools.

What is Competitive Intelligence?

This is the process of collecting and analyzing data about your competitors. This data can include their business model, target audience, strengths and weaknesses, and marketing strategies. 

Market Research tools

The best way to gather data on your competitors is to use market research tools to analyze their websites, social media, and other online assets. These tools can help you discover your main competitors and what they’re doing to compete with you. They can also help you gather data on your customers and potential customers to improve your marketing efforts and target the right people.

Google Analytics 

Google Analytics is an intelligence tool that you can use to track your website traffic, understand your audience, and measure the effectiveness of your digital marketing campaigns. This will help you know the most popular pages and the paths customers are taking through your site. This allows you to identify any areas of improvement or potential bottlenecks that keep visitors from converting. 

TrackMaven

If you’re focused on keeping tabs on your competitor’s marketing activities, TrackMaven is an intelligence tool that can help. This tool offers a complete overview of your competitors’ marketing strategies, including data on their website traffic, social media engagement, and advertising activities. It can even help you identify what new marketing strategies your competitors might be considering by showing spikes in certain activities. 

Crunch Base

CrunchBase is an intelligence tool that allows you to track your competitors’ funding, acquisitions, and other financial activities. CrunchBase can track funding rounds, acquisition deals, expiring capital, and other economic activities related to your competitors. This can help you determine where your competitors are getting their funding, how much money they have in the bank, and how successful their latest investment rounds were. 

Moat 

Moat is a market research tool that you can use to track the performance of your digital ads, see how your competitors’ ads perform and discover new ad networks to run your campaigns on. This can assist you in determining how successful your competitors’ websites are and see how many visitors they receive. You can also use Moat to track your competitors’ search engine ranking to see how successful their SEO campaigns have been.

Ahrefs 

Ahrefs is a marketing analytics tool that you can use to track your SEO performance and determine what the competitors are doing for SEO. It also enables you to track your content performance and see where your articles are shared online. 

 NetBase Quid 

Netbase Quid is an intelligence tool that enables you to track your brand and your competitors’ online presence. It allows you to gather insights into your competitors’ products, audiences, and marketing strategies. You can also use Netbase Quid to track your competitors’ press releases and other marketing materials, such as videos and podcasts. It integrates with your existing CRM software like Salesforce, so you can easily track your marketing activities against your competitors’.

SEMrush

SEMrush is a popular tool that enables you to track and analyze your competitor’s search engine optimization (SEO) efforts. This will give you awareness of what keywords they are targeting, the keywords driving traffic to their site, and what might be driving visitors away. This will allow you to identify potential opportunities for your business and uncover SEO challenges that your competitors are facing. These intuitions will enable you to optimize your website and marketing efforts better and identify weaknesses in your competitors’ strategies.

Google Alerts

Google Alerts enables you to set up email notifications when new content is published online related to your chosen keywords or topics of interest. You can use Google Alerts to stay on top of your competitors’ activities. Competitive intelligence professionals use Google Alerts to keep tabs on what their competitors say and publish on the web.

Conclusion

Competitive intelligence is a crucial part of any business strategy. Intelligence tools can help you get insight into your competitors’ strengths and weaknesses and give you actionable data to improve your marketing efforts. There is no one-size-fits-all approach to intelligence, so you must choose the right tools for your business and understand how to use them efficiently.

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The Advantages and Disadvantages of Content Marketing

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The Advantages and Disadvantages of Content Marketing

We love content marketing at Strawberry Forge. And we want our clients to love it as well. There are many upsides to having a detailed strategy in place, but we’re nothing if not honest, and we understand that some companies may think it’s not right for them.

If you’re on the fence, we put together this brief guide to explain the main advantages and disadvantages of content marketing.

Advantages of Content Marketing

Building Your Brand

Almost every business wants to be seen as a thought leader in their industry; it’s how you make a name for yourself. The type of content you produce can help with that.

Articles that are helpful and well-researched show that you know your stuff. And the more content you put out there, the more chances you have to make an impact.

We mentioned above that content has to be helpful. When someone lands on your article, they’ll be looking for a solution to their problem. If your advice hits the nail on the head, you start to create a level of trust with your reader. In turn, this makes your company the one they turn to when they’re ready to have a conversation.

Content marketing is also far-reaching. The right keyword research will place your articles at the top of Google search pages — that means you have the potential to be seen by hundreds if not thousands of individuals.

Long-Lasting

The problem with traditional marketing (print, TV etc.) is the very limited shelf life. Once it’s been seen… that’s it — unless you keep paying for advertising space.

Put your content on the internet, however, and it will still be there five, ten and even twenty years from now. To make sure articles remain in good positions on search engines, they will need a little refining over time, but it’s much easier to tweak existing content than it is to create new pieces from scratch.

Whether you put time aside to write articles yourself, or you choose to contact a marketing agency to help, it will be a worthwhile investment. A couple of hours and a relatively small spend will result in years of lead generation.

Disadvantages of Content Marketing

The Waiting Game

One of the biggest reasons why some companies choose not to go with content marketing is time. We’re upfront about the fact it will take a few months for articles to pick up steam and be recognised by search engines.

And if content doesn’t rank in the expected positions, it can mean more work is needed. A poor quality website will hurt your chances of ranking, and articles may need to be rewritten with new keywords in mind.

At the start, it is trial and error, but sticking with it can yield great results as long as you have the patience.

Constant Input

Search engines like content a lot. In fact, they rank websites that continuously produce content much higher than sites that only publish a couple of generic blogs a year.

This means you’ll need:

  • Time to write
  • A huge number of topics to write about
  • The skills to track success and amend your strategy

If you don’t have these resources at hand, we have the perfect solution.

Let Strawberry Forge Manage Your Content Marketing

It’s like we said in the introduction; Strawberry Forge loves content marketing. We’ve saved our clients countless hours by taking the pressure off their teams, and our expertise gets content in front of the right audience.

Our detailed strategies involve a two-pronged approach; we’ll get the full potential out of your existing assets, and create new marketing routes to ensure all bases are covered.

To learn more about how we work and the results you can expect, make sure to check out our website.

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Everything You Need to Know About CPaaS

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Everything You Need to Know About CPaaS

In your search for ideal communication platforms, you may have heard of CPaaS, but what is it and the benefits? How does it compare to other options? Is it worth investing in a CPaaS platform for your business? Read on to learn more about CPaaS and why you need it for your business.

1.    What is CPaaS, and what are its benefits for businesses?

What is CPaaS? CPaaS (Communications Platform as a Service) is a cloud-based platform that provides businesses with the infrastructure and tools to build and launch their communication services. It includes everything from voice and video calling to text messaging and chatbots.

CPaaS platforms are typically very easy to use and require no coding or technical expertise. It makes them an ideal solution for businesses of all sizes, from start-ups to large enterprises. CPaaS platforms offer several benefits for businesses, including increased flexibility, lower costs, and faster deployment times. They also make it easy to scale up or down as your business needs change.

2.    How does CPaaS work?

CPaaS platforms provide developers with a set of APIs that they can use to add voice, video, and messaging capabilities to their applications. The APIs abstract the underlying infrastructure, making it easier to develop and deploy communications-enabled applications. Different CPaaS providers offer various features, so choosing a platform that provides the right mix for your needs is essential.

3.    What features should you look for when choosing a CPaaS provider?

Choosing a communications platform as a service provider can be daunting. However, there are a few key features that you should always look for in a CPaaS provider. First, the provider should offer a wide range of features and services. This way, you ensure that the provider has the tools you need to support your business communications.

Second, the provider should have a robust and reliable infrastructure. It ensures that your communications will always be available when you need them. Finally, the provider should offer excellent customer support. This way, you’ll have issues resolved quickly. Some standard features include:

  • Voice and video calling
  • Text messaging
  • Chatbots
  • Conference calling

4.    How much does CPaaS cost, and what are the payment options?

Most CPaaS providers offer a subscription-based pricing model. You pay a monthly fee for access to the platform and its features. The amount you pay will vary depending on the provider and the services you need. Many providers also offer a free trial to test the platform before committing.

5.    What are the deployment options for CPaaS?

CPaaS platforms are deployable in several ways. The most common deployment option is the cloud. The platform is hosted by the provider and accessed over the internet. However, some providers also offer on-premises deployments, which means that the platform is installed on your servers and accessed over your company’s network.

CPaaS platforms are designed to be highly customizable, giving businesses the ability to tailor the features and functionality to their specific needs. It includes the ability to add or remove elements, change the user interface, and integrate with other software applications.

Endnote

CPaaS is a powerful tool that can help businesses build and deploy communications-enabled applications quickly and easily. By choosing the right CPaaS provider, you’ll have everything you need to communicate with your customers and employees effectively.

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