When was the last time you updated your employee handbook?
If you are like many small business leaders and owners, you might have to think.
And that could be a problem. Employee handbooks are essential for employee engagement and retention. The very best are sources of truth for your company brand, culture, and what makes your company a great place to work.
But if your employee handbook has some dust on it, it’s quickly becoming a depreciating asset.
Let me share just a few examples of why your employee handbook may need to be updated to have you consider if it’s time to update the employee handbook.
Has your business changed during the pandemic?
Have you brought in new technology, new leaders, or new benefits?
Any of these changes makes updating the employee handbook necessary.
What states are you operating in today?
Have you hired remote workers in different states?
Some states have very complicated labor laws. Many of those states require written notice of what those labor laws are. Your handbook should account for that by migrating new policies into the handbook or creating addendums.
Is your business considering expanding?
Are you going to be more than 50 employees? More than 100?
Starting to do federal contracting work?
All of these reasons would require updates to your employee handbook.
Another reason for updating your employee handbook is because the social contract has changed between employee and employer.
For years, the social contract between employers and employees was that the latter would work for the company in exchange for wages, health insurance, and other benefits. But newer generations of employees don’t only work for wages or money. They need to believe in the company’s vision, mission, goal, and also social responsibility. In addition, many employees today want overall well-being to be part of the social contract with employers.
It’s probably a good time to reflect on how your company policies are written and what benefits are offered so you can make sure that you’re retaining top talent now and in the future.
Don’t let your employee handbook become a depreciating asset. Keep it current. Keep it up-to-date. So it can remain a valuable tool for your business and help you retain top talent.
Interested in other current employment trends? Click the link to view the recent blog: Interested in other current employment trends? Click the link to view the recent blog: Need to Have a Tough Employee Conversation? Just Say It. or check back for more on human resources, payroll, insurance, and benefits. or check back for more on human resources, payroll, insurance, and benefits.