Klinsheet Consulting Limited

Every business thrives in its own unique environment, industry or market, if you may. And this is why not every business strategy adopted from principle or copied from competitors is assured to work for your own business. 

When embarking on a new business project or trying to resolve a business issue, there are contextual factors that need to be considered. And identifying these factors and what solutions would best fit your business would require firsthand consultation with business advisory experts or their firms.

Consulting a business advisory firm provides you with expert opinions on how to approach projects; revamp processes; and tackle business issues to ultimately aid company growth.

For example, a business advisory firm could provide solutions that could automate your accounting compliance. Or they could advise you on how to proceed with hiring new talents. 

They could also offer the best digital integration solutions for your business. The primary aim is how to make your business successful and their job is to help with navigating your very next steps and achieving your potential.

However, with several business advisory firms, it might be difficult to select one that offers the services that rightly suit your needs. This is why we have outlined a checklist of considerations you should make about your business before deciding on an advisory firm to hire.

What kind of problem are you trying to solve?

The first step is considering the type of problems that a business advisory firm would be helping to take care of. 

For example, an already established business that is embarking on a new project requires funding and direction. The right business advisory firm will be able to provide likely investors or feasible capital generation for that project. 

They should also be able to provide more insights on how to increase revenue and restructure to avoid incurring losses. They should be able to offer the best tools for digital integration to automate processes, store data and lead new inventions.

What type of firm do you want to hire?

There are several types of business advisory firms. They are firms that are specialized and only provide solutions to specific types of businesses. Then we also have the general business advisory firms whose operations span several industries. 

Some projects, especially those that will operate internationally would definitely require broad consultation. And this is where international business advisory firms would suffice. But in critical cases where specialization is required, businesses should be able to select a business advisory firm that will help them navigate those. Many specialized business advisory firms deal solely with issues ranging from accounting advisory, digital integration and hiring.

How recommended do your options come?

You can listen to hundreds of pitches from various business advisory firms, and look through a hundred more presentations. 

However, you will only find out what firm is capable and reliable when you look through their list of existing clients. It could also help to check the reviews of their services. Find out what services they offered these clients and how effective their solutions were eventually to these businesses.

At Klinsheet Consulting, we come highly recommended as one of the most reliable business advisory firms, offering digital solutions and expertise to grow your business. You can visit our website to find our services and other information that you would need to make your decision, and you can also contact us for discussions on how to take on your next business project.

When there is a vacant position and candidates send in applications, organizations usually go through several levels of vetting these new talents to select the best fit for them.

Before the final selection, there are the usual pre-employment tests; interviews; health certification and everything else that indicates that the person is a right fit for that role. 

However, one thing that many companies overlook is the verification of all the information presented by their new talents to see if they are actually authentic and true. 

Think of it this way: Why is an employee presenting false documents, or claiming to be who they are not? Who is that real person that they are trying to hide behind them? What has the person done, and can this affect your company in the long run? The answer to that last question is yes. 

Foregoing the necessary scrutiny of new talents could lead to unpleasant events that would be avoided if you conduct thorough background checks before taking on new talent.

Here are five reasons why you should see background checks as very important.

Talent Quality

Many people seek employment while there are very few roles available. Apparently, this is one of the reasons people lie about their qualifications. However, the type of talents you hire goes a long way to affect organizational success. 

Thus, it is important you ensure that your employees have not lied about their qualifications and experiences. This way, you are sure that every member of your team is duly qualified and capable of handling tasks in which they are involved.

Safety of lives and property

For safety reasons, you should conduct background checks to crosscheck your newly hired talent’s medical history or criminal record. 

An organization should be able to know if its new employee has been involved in any criminal activities in the past. It now depends on the kind of crime involved or discretion to retain such talent or let them go. However, if the organization wishes to retain employees with a criminal record, there should be a legal undertaking signed to protect the organization in any event.

Ensuring compliance with governing bodies

Different industries have their laws by their respective governing bodies regarding the qualifications of working staff. This is usually put in place and respected by all members. These laws help to ensure that there is a reasonable standard of service in the industry. 

However, it could be embarrassing if your organization is sanctioned for violating the laws because you have hired someone who lied about their qualifications. This could damage your organization’s reputation – an unpleasant event that wouldn’t happen if you do your due diligence.

Many organisations are of the mindset that conducting background checks requires a lot of time and resources. However, that is not enough reason to leave your organization vulnerable. At Klinsheet Consulting, we conduct dependable background checks and ensure that you are hiring the right person to join your team. You can check here to see more details about our services.

Employees are human, and they will only continue to stay in situations where they are able to thrive. On the other hand, if there are unresolved issues that impede their abilities to thrive, they may consider leaving. This theory is probably why many employees are choosing to resign, causing a spike in talent attrition and leading to gaps in the organisational structure of several industries.

But theories aside, why are these employees actually leaving? To get a fair answer to this question would require asking individual employees why they want to leave. However, most of their reasons may derive from inadequate salary and benefits; an unhealthy work environment; and the inability to achieve their goals. Yet, it is crucial for organizations to take actions that reduce the rate at which employees leave while ensuring a conducive environment for existing and new talents to thrive. 

Below are a few tips on how to achieve that:

Review employee salary 

Due to the economic state, reviewing your employees’ salaries has to be first on this list. Stagnant salaries or wages are unacceptable to so many right now. With the ever-rising cost of living, it is only right that the earnings of individuals increase too. If they are not being paid enough, they begin to think about leaving.

In cases where you cannot provide an outright increase in salaries, you can introduce other forms of compensation like bonuses into the mix. It would act not only as a measure to retain your employees but also as an incentive to keep them working at their best.

Maintain a healthy work culture

Work culture refers to the sum of all your organisation’s beliefs, values, interactions and behaviour. You need to always remember that great work culture makes for a healthy work environment.

And this is where fairness plays out. What is your organisation’s stance on pay equity? How do you approach social issues and protect your employees from being exploited?  The answers to these questions effectively define your organisation and what it stands for.

A genuine healthy work culture requires understanding the diverse makeup of employees and subsequently endears the company to its workers.

Promote gender equity

A substantial amount of employees leaving their jobs are women. And this is largely due to the unfairness that exists toward women in many workplaces in Nigeria. 

Making sure that your workplace is a healthy and safe space for women is a great strategy that works towards retaining your female employees. This further serves as a beacon to prospective talents who are seeking a place where everyone is treated equally without discrimination of any kind. 

Retrain your employees

One way to keep them is by teaching them. Organising training for your employees is important, especially in today’s world where technology is constantly advancing and changing the ways we work. Make it a priority to invest in your employees’ professional development. That is a great way to keep them around and interested.

Appreciate your employees

As mentioned above, employees are human; always remember that. Imbibing that sentiment will go a long way to assist your organisation. Your gratitude goes a long way in showing your employees that you actually see the work they are doing and you care.  Ensure that you constantly recognize, reward and validate the efforts of your employees.

Ultimately, hiring right is one of the ways to increase employee retention. When you hire an individual whose qualifications and passions absolutely fit a role; you can be sure to retain that person for as long as mutual interests between them and your organisation align.

In most cases, it is often rigorous to go through the intricacies of hiring, especially with other tasks to be completed. This is why you should look to competent consulting companies like Klinsheet. Klinsheet consulting offer digital solutions to assist your hiring process and ensure that your company hiring process ends with talents that fit organizational goals. We are available to advise you on how to hire the right kind of people for your organisation, and you can contact us by visiting our website here.

The people you hire carry a lot of implications for your organisation. They and their performance would determine the growth of your company in the next few years. This is what makes the task of hiring talents a very critical one.

Research shows that it costs about 20% of a mid-level employee’s annual salary to replace them. And it costs ten times that percentage to replace a senior-level employee. With the current wave of employees leaving their jobs, it has become a necessity for organisations to look for talents who are going to stay.

It is a given to take note of a prospective employee’s qualifications and experience. However, here are a few extra things to look out for before offering them that job.

Personal brand

Take note of your prospect’s personal brand. What type of person are they, and what are their hopes for the future? 

Ask questions to find out if they are actually interested in having a career with your organisation or if they are looking for just any job to put up with. Always assess what they have planned for their future, and see if it aligns with the trajectory of your organisation.

Cultural fit

Many employees are leaving their current jobs because they are disillusioned with the company culture. This is why you need to know if your prospective employees hold the same values and beliefs as your organisation. 

Find out what their stance is on some social issues, and how they would handle some workplace scenarios. Discuss resumption time and days with them, and if there are arrangements for remote work, let them know.

Salary and compensation

It is important that you always discuss the salary terms with your prospective employees. This should happen by first disclosing the range for the role, and then asking them if it meets their expectations. Also, encourage them to negotiate. You want to get them at a rate that is convenient for both your organisation and them.

Also inform them of any bonuses, incentives, pension schemes or health benefits that they would be entitled to if they get selected for the role.

Re-interview

It is a good hiring practice to make a shortlist from your list of candidates and schedule another interview. You can have this interview with their prospective team leads, to see if they would be a good fit for that team or department within your organisation.

Background checks

The experience and qualifications on your candidate’s CV or resume are important, as it shows their capability for the role you are employing for. However, you would want to hire employees who are exactly as they say they are. This is why it is important to run background checks on your preferred candidates before you hire them, or while they are on probation. 

While there are several firms that could assist you with background checks in Nigeria, one of the most reliable is Klinsheet Consulting. With Klinsheet, you can be sure of your employee’s school certificates, NYSC, criminal records and guarantor information.

As mentioned earlier, and as you might now believe after reading this, hiring new employees could be really tasking and time-consuming. This is why some organisations might want to delegate their hiring process to external HR firms. Klinsheet Consulting offers one of the best HR services across several industries. It provides an automated system that ensures that your hiring process is absolutely taken care of, and without bias. Operating with notable clients and partners, their delivery and credibility stand out amongst other consulting firms.

 

What is pay equity?

Pay equity largely entails paying according to the amount of work done. This means that everyone, regardless of gender, race, tribe or beliefs is entitled to the same amount in wages, so long they do the same work. 

At least, this is only right, considering that society should be one of justice and free of discrimination.

However, this is not the reality. In Nigeria, we find that there usually is a disparity in the way men and women are being paid.

Unequal pay often occurs as a result of deep-seated societal discrimination. It happens and thrives in societies that hold misogynistic beliefs that men should earn more than women. While this belief and the practice that it leads to is harmful to women, it could also affect organisations that have them entrenched in their culture.

One thing is certain: when women realise that they are being paid lower than their male counterparts, they are going to feel aggrieved. And understandably so. For the employee, this could cause disharmony within their teams. And they could also begin to lose any sense of trust they had towards the company and their coworkers.

Some organisations have policies that outrightly ban conversations about pay between workers in an attempt to curb any conflict that might result from such information. However, it is neither an effective nor healthy solution to gag employees, as they will still have that conversation. 

The only right way forward is to create a safer environment in your organisation by closing the pay gap henceforth.

How to promote pay equity in your organisation

As explained above, the pay gap in many organisations derives from societal bias and sentiments that have found their way into the company structure. Therefore, in order to maintain an equitable payment system, management would have to tackle unequal pay and the issues that may arise from it at the source.

Conduct pay analysis

Pay audit or analysis allows your organisation to see if there are any discrepancies in their pay structure and to address them. If any gaps are found, consult the team leads and human resources department and ensure that those gaps are closed immediately.

Organise Sensitization

The first step in changing orientation is unlearning, then learning. Employees should have to unlearn their bias and learn that for a company to grow, they would have to ensure that they place the same value on every one of their employees regardless of gender, tribe,age or beliefs.

Make salaries transparent

Salary transparency is one effective way to put an end to unequal pay in your organisation. In lieu of the exact amount, you can always publish the salary range for a role. 

Salary transparency also includes offering a breakdown of incentives and bonuses to employees so that they are aware of how they and their colleagues actually earn.

Promote female employees

An NBS report in Nigeria released in 2015 found that only 34.7% of senior positions are occupied by women. This is a wide margin that shows that women are not being placed in positions where they can make decisions about their own affairs. If organisational structures continue being that lopsided, it would be more difficult to break the bias and ensure equitable pay for all employees.

Hire an efficient human resources team

For many of these aforementioned solutions, having a reliable human resources team would help ensure that all employee management concerns are taken care of. Your HR team could be in-house, or you can hire an external agency to take care of it.

An example of a brilliant HR agency is Klinsheet Consulting. They offer IT solutions for HR, and operate an automated system, ensuring that your employee management is absolutely taken care of. Operating with notable clients and partners, their delivery and credibility stand out amongst other consulting firms.

 

Domestic staff assist you with home activities or chores that you would rather not do by yourself. Some of them are your cooks, housekeepers, nannies, governesses, gardeners, or drivers.

However, because of the nature of some of these activities, they have to operate in close proximity to you, your family and your personal effects. This makes hiring a domestic staff a delicate decision that you must only make after considering several criteria, and deciding that you can handle them.

To ensure that you remain on the safe side, here is a list of a few guides and caution that you should take note of when hiring new domestic workers.

Dos

Create a budget for your domestic staff

Pay is very important. Whatever the amount you agree to pay your domestic staff, ensure that it is within a fair range and that you can afford it. It is advisable to earmark your domestic staff salaries from your own earnings so that you do not owe salaries when they are due. 

Maintain a healthy relationship

Your domestic worker would be handling things in your home, and it would be a good idea to build a trust-based relationship with them. Be careful to leave all forms of toxicity aside, and be responsible for their wellbeing when they are within your home.

Hire adequate staff for your home so that you can make sure that no staff is over-burdened with work. If they are stay-in staff, ensure that they get their respective rest days, and day-offs to meet with their family and friends.

Don’ts

Do not tolerate any form of abuse

Your domestic staff are human beings too, complete with feelings and agency. Treat them like one. Do not abuse your role as their employer in any way or form, and ensure that they are not being abused by anyone else in your house (be it a family member or another employer.)

Do not expect certain activities from them

Your domestic workers are to take care of activities around your home. This does not mean they should be expected to undertake activities that could harm them. Some activities like lifting very heavy items, or taking care of someone who is ill should not be expected, especially if such illness is communicable.

Don’t hire domestic staff without a background check

In most cases, you are bringing someone you do not know from Adam into your home and personal space. It is important to be sure about the information you have been given about your new domestic staff from them or the agency you have hired them from. You can check run background checks on their qualifications, criminal records, address, and the information given about their guarantors. 

Double-checking this information can act as an assurance of the character of the person you are hiring, and afford you to trust them more.

There are several consultants that can assist in background checks, and an example is Klinsheet Consulting. They run timely background checks and could also assist your hiring process. They also offer IT solutions for HR, and operate an automated system, ensuring that your employee management is absolutely taken care of. Operating with notable clients and partners, their delivery and credibility stand out amongst other consulting firms.

Post-pandemic and around the world, several industries are still reeling from the massive blow to their structure and stability. And for companies in countries like Nigeria that had already been embroiled in an unstable socio-economic climate before the pandemic, they didn’t fare any better.

The aftershock surpassed mere losses in revenue for industries, and cut deep into serious structural problems that have been dubbed “The Great Attrition” or “The Great Resignation.” 

In the last two years, there has been a spike in employees resigning from their jobs and a lot more of them are making the decision to leave. 

This mass exit has led to a widening structural gap and loss of expertise in so many organisations. And for companies to cope with this trend, they have to hire and train new employees, amounting to extra resources to be spent.

However, hiring and training have seldom helped as newly employed staff may sooner leave if the issues that cause the Great Resignation still remain. Therefore, for companies to shield themselves from this wave of exit, they have to be able to answer the  question “why?”

Why are our employees leaving?

These days, more people are critically evaluating their lives and some of these thoughts may play into their satisfaction (or dissatisfaction) in their careers and positions. As we will realise at the end of this article, many of these decisions come after realising that many things have changed around the world, but not too much in their jobs.

After such self-reflection, one may find that they are unable to cope with their current jobs or career path and may desire something different. However, there are several reasons that could cause one to find this dissatisfaction in the first place.

The gender gap

A recent study that surveyed Nigerian employees found that 70% of women will be leaving their jobs in the coming months. The same study also affirms that other women that have not made the decision to leave are considering it.

One of the issues that women especially face in the workplace is inequality. It isn’t a new conversation. It is well known that equally qualified women are being paid less than men in many Nigerian industries. This is an unfair situation that could cause disharmony and a disjointed team when people find out that they are being paid differently from their colleagues for the same work. 

Women that consider the gender pay gap could very well make the decision to leave if all their internal requests to close the gap have not been met.

State of the economy

The economical inflation and rising costs do not just affect the business, but also its employees. They also have to be able to feed, clothe, commute to work, pay bills and cater for their families.

However, from bus fares to house rents, costlier have expenses become without an increment in income. For people that have to commute from distant locations, commuting to work is an expense that they are finding harder to cover. And without any sort of succour, they may see this as a reason to leave their jobs.

Social changes

In the last two years, people have endured so much social trauma. Some employees have lost loved ones to the Coronavirus, while others were sick themselves. While dealing with all of these, they might be experiencing more frequent burnouts, that require them to take some time off to rest and come back revived and ready to work.

Also, women with children have been particularly affected by changes in the way they cater for their families. One of these changes is the shift from onsite schooling to remote or hybrid schooling for children. They now have more responsibilities that may take them away from work, as they need more time to attend to their kids than was the case pre-pandemic. 

Lacking any form of support, the people that fall under this category may begin to seek a less demanding means of employment or possibly entrepreneurship to cope.

Work culture and career growth

Different people will approach their jobs with different expectations. And in many cases, these expectations may differ from the offerings of the organisation. A study on employee satisfaction has reported Career Growth and Benefits as one of the top intrinsic traits that employees look for in an organisation they would work with. 

People want to work in an organisation that is fair and rewards hard work. They would also appreciate a work environment that is free of toxicity and abuse.

The pandemic aside, there has also been an influx of GenZ talents into many industries. And as young as they come, they would most likely seek companies that promise career growth, support fairness and maintain a healthy work environment. And situations where companies lack these qualities, employees may seriously begin to consider leaving.

What can you do?

Pay transparency

Unequal pay is an injustice, and it says a lot about your organisation if you do not pay equally. Ensure that you do not only pay equally but that you are also transparent in the salaries. 

Of course, there is some controversy about publicising the payment for a role, but note that pay transparency is one sure way to check unequal pay. The market is competitive for expert talents, so an equal pay structure could be that edge that would help you retain your staff.

Offer support

Always look out for employees. Encourage employees to always approach human resources with any challenges that they are facing, and if it is possible for your organisation to assist, please do.

Give a day of rest to those who need it, to reduce the risk of burnout. These actions will show that you care about your employees and their mental health, and could create a favourable sentiment of the organisation to the colleague.

Promote a healthy work culture

Ensure justice in your workplace. Make sure that you have a healthy work structure and eradicate all forms of abuse that could likely emerge.

Promote employees as at when due, and motivate them with incentives. It would help when you always give your employees something to look forward to.

Hire a consulting firm

It could be quite difficult to incorporate all the aforementioned suggestions. However, the right place to start would be with a good Human Resources consultation. One of the most recommended is Klinsheet Consulting Limited. 

Klinsheet is a consulting firm that offers IT solutions for HR, and operates an automated system, ensuring that your employee management is absolutely taken care of. Operating with notable clients and partners, their delivery and credibility stand out amongst other consulting

Avoid Untimely Death – Know Your Domestic Staff – Run A Background Check.

Lately, there have been recurrent stories about domestic staff who have killed or maimed their employers. Just some days ago, the social media space was enthralled by news of a popular commercial bank staff who was killed by his gateman. As though this wasn’t enough, the gateman went further to bury the man in his own backyard. The news was such a sad one for me. I was deeply appalled by the fact that that horrible occurrence could have been averted. After a moment of deep reflection, it occurred to me that folks like myself need to do much more in helping people realize the dangers of ignoring background checks. Had that employer been meticulous enough to run a background check on his domestic staff, the danger of murder could easily have been averted. Click here to see video of the employee who killed his master.

 

Before hiring domestic staff who would have access to your home – and perhaps, your family; it beckons on you to observe due diligence by running a background check on them. During the job-hunt and interview process, applicants usually tell lies that would make them appear as the right fit in the eyes of prospective employers. As a consultant within the HR space; I have met with many individuals who have sharpened their convincing skills to the extent that you would almost never suspect foul play. 

 

Running a background check is the only way to ascertain that your prospective employees are truly who they say they are. Similarly, a background check would reveal whether prospective employees truly have all the competencies they claim that they have. Background checks help you to identify red flags that could pose threats to you in the near future.

 

Before confirming an employee’s appointment, some of the areas you need to verify are:

 

• Previous Employer: running a previous employer check will help to ascertain that your prospective employee truly worked where they say they did and that they truly occupied the role they claim they did.

   

• Address: It is imperative to run address verification on all your employees. Time and time again; I have met with employers who have come to realize that their employees dropped fake addresses during the recruitment process. Sadly, these employers got to realize it only after the employees involved had absconded with their valuables.

   

• Guarantor: It beckons on every employer to ensure that they run a guarantor check before accepting any employee into their private space. With verified guarantors, you have a trail to follow up on peradventure an employee decides to abscond with your valuables.

   

• Criminal Record: No matter how competent an applicant appears to be; it behoves every employer to ascertain that their employees have no criminal history. Peradventure an employee has a criminal history that appears to be tolerable; knowledge of the fact would inform decisions around the tasks that you assign to him or her. Moreso, you’re able to determine the kind of surprises to expect once you’re aware of your employee’s past.

 

If properly done, a background check would always give cues as to who an individual truly is beyond the surface. At Klinsheet Consulting Limited, our verification agents are professionals who have been trained on how to look out for red flags. While in the field, our agents usually interact as much as they can with the individuals they meet with. During these meetings, we pay attention to the tone of voice; body gestures; eye movement and other ‘seemingly petty details’ that would give a clue when something doesn’t add up. 

 

As an employer, would you be happy to hire a domestic staff who has a history of workplace violence; sexual harassment or any other social vice?

 

I can go on and on to relate the countless experiences I know of. But sadly, they wouldn’t suffice to bring back the dead employer who was killed by his staff. If you would like to know more about my experiences as a Verification Consultant, feel free to call me on 07037195924 or send me an email at verify@klinsheet.com.

 

Dipo Umoru

Verification Consultant 

Klinsheet Consulting

 

As much as it’s often overlooked, one of the most essential HR metrics to monitor is employee turnover rate. In this story, we’ll tell you everything you should know about your employee turnover rates. You would understand why employee turnover rate should not be ignored. You would also get to understand what employee turnover means and how it is calculated.

 

What is employee turnover?

Employee turnover – also referred to as staff turnover – is a measure of how many employees leave an organization. In most cases, when an employee leaves, the organization needs to hire new staff to replace them. An employee leaving an organization could be voluntary or involuntary. Hence, turnover rates could be categorised under voluntary turnover and involuntary turnover.

 

Voluntary turnover occurs when a staff member leaves an organization out of his/her own will. This is often because they go on to take an offer from another organisation.

 

Involuntary turnover occurs when a staff leaves an organisation out of compulsion. Essentially, involuntary turnover occurs when an organization terminates a staff’s contract due to absenteeism, violation of workplace ethics policies, or poor performance on the job.

 

The significance of employee turnover

Employee turnover is one of the most essential – but often overlooked – HR metrics. Usually, employee turnover is often talked about in a negative context. This is because high turnover rates of staff usually lead to increased costs for an organization. Having high employee turnover rates can be really expensive. When a staff member leaves, the organization has to worry about getting new hires. If all due diligence is done, replacing an employee usually costs quite a lot of money. After hiring, a new employee now has to learn on the job. Even experienced professionals still have to take time to get accustomed to the peculiarities and work ethics of your organization.

 

Why is it costly to replace employees?

When you consider all the costs associated with hiring a new employee, it becomes immediately clear why employee replacement costs so much money. First of all, you need to find and hire new employees. The stress and time it would require to find an employee who is a perfect fit cannot be predicted. Subsequently, deliberate efforts have to be put into onboarding and training these new hires. In terms of productivity, new employees tend to take a while before they begin to operate at full capacity within their role. This is often the case, especially when the new hire is not so experienced. 

 

What is a healthy turnover rate?

Due to the high cost that’s involved in replacing employees, employee turnover is often described using a negative connotation. However, employee turnover is not all negative in its own sense. If an organization has a high turnover because poor performers are leaving, then the high turnover rate could be a good thing after all. If however, the top performers are leaving, it is a clear sign of a red flag. This is why it is uneasy to state what turnover rate is a healthy one; as it depends on the peculiarities of each organization. Hence, employee turnover should always be evaluated in context of the realities of an organization.

 

Average employee turnover rate

Apparently, the employee turnover rate varies significantly across industries. Hence, it is difficult to determine what a healthy turnover rate is. According to LinkedIn, the average employee turnover rate across the globe stands at 10.9%. In some industries, however, the general employee turnover rate is significantly higher than the average turnover rate. This is because these industries rely predominantly on part-time workers and students who eventually move on to work elsewhere.

 

What is the employee turnover rate?

The employee turnover rate is the measure of employees who left an organization within a certain period. It is usually measured in percentage. Usually, the employee turnover rate is calculated on a monthly and/or annual basis.

 

How to calculate employee turnover rate

Employee turnover rate is calculated by dividing the number of employees who left the company by the average number of employees within a certain period. The value arrived at is then multiplied by 100 to generate a percentage value

 

In formula:

The average number of employees is calculated by adding the number of employees an organization had in employment at the beginning of a certain period to the number of employees the organization had in employment at the end of the desired period and then dividing the resulting value by 2. 

Hence, to calculate your employee turnover rate, the following 3 variables should be considered:

1. The total number of employees on your employment roll at the beginning of a certain period.
2. Total number of employees on your employment roll at the end of a certain period.
3. The number of employees who left your organization (voluntary or involuntary) within the said period.

As such, the formula for calculating employee turnover rate is: (no of employees at beginning of period ÷ number of employees at end of period) x 100.

 

No of employees at start            x         100
————————–
No of employees at end

 

If you need help calculating your employee turnover rate, or seek to know its significance as is peculiar to your organization; feel free to send me an email.

 

Dipo Umoru

Verification Consultant

Klinsheet Consulting

Finally, you have succeeded in convincing the management to run background checks on all your employees. Approval has been gotten and you’re set to get ahead with the task. But you know it’s smarter to outsource this project than to take it up in-house. How, then, do you determine the things to look out for before choosing a background check service provider? We have put together 7 factors you need to consider when choosing a background check service provider.

 

1. Types of checks offered

   Background check services entail a wide range of categories. These include:

• Address confirmation
• Criminal record check
• Academic verification
• NYSC verification
• Guarantor/reference check
• Credit check 
• I.D verification 
• Previous employer check, and so on. 

  Different vendors render different clusters of services. As such, you must first confirm that your preferred vendor renders the specific set of services that you need.

 

2. Turn Around Time

Within the background check services space, the term ‘Turn Around Time’ represents how long it takes to complete a background verification process. The turn-around time in background checks varies depending on the type of check and the peculiarities of the individuals. It is imperative that you communicate your required turn-around time to your proposed vendors. Upon bargain, dependable background check service providers would let you know what’s attainable.

Klinsheet consulting is a dependable background check services company in Nigeria. We leverage automated processes in all our projects, and we have the internal capabilities to deliver innovative IT interventions for HR problems. Our swift turn-around time helps us to stay ahead of our competitors.

 

3. Experience & track record

Background checks are an essential part of your employee journey. As such, you must settle for a background check services company that has adequate experience on the job. Usually, it is a good idea to settle for background check companies that have other serious-minded organizations on their list of clientele.

4. Legal compliance

You should be responsible enough to ascertain that your proposed vendor is compliant with the laws that govern the industry – especially within your physical location. By this, you ensure that you do not pose a threat to the image of your brand by doing business with a vendor that isn’t legally compliant.

5. Technological inclusion

Considering the peculiarities of current times, it is best to settle for background check service providers who have integrated technology into their operations. For the sake of synergy, your background check service provider should assure you seamless integration with other HR solutions that you use within your organization. For instance, Klinsheet Consulting has an online portal through which we receive background check requests and give feedback to our clients. With the click of a button, clients can access the reports of new and previous verification requests.

 

6. Affordability

Finally, is it imperative that your background check service provider is able to operate within the limits of your budget. Usually, background check service companies offer their pricing based on the volume of requests you bring. The specific types of check you need would also influence the cost of your background verification requests. It is worthy of note that premium check services; as well as running background checks on high profile individuals always comes at a higher cost.

In all, it beckons on you to carry out due diligence when choosing a background check service provider. If you would like us to run background check services on your employees, send us an email at verify@klinsheet.com.

 

 

Dipo Umoru

+234 708 327 2363

Verification Consultant

Klinsheet Consulting