I’ve been thinking about a physics concept called potential energy that has a lot of relevance to the situation we find ourselves in amidst the Covid-19 lock-down. Potential energy is simply the stored energy an object has because of its position or state. A bicycle on top of a hill, an arrow drawn back in a bow, or a skier poised to drop into a steep hill all have potential energy. Essentially, its energy that is ready to be released with some form of trigger – simple gravity, releasing the bow string, or a skier launching over the edge of a precipice. I see our great economic engine in this country and the small businesses that make it go in a similar fashion – poised to be released with the right trigger

Did you know that the Center of American Progress estimates the cost of turnover to be between $20,000 and $30,000 per employee? Between HR time to actually hire the individual, to onboarding, training, lowered productivity…it’s a huge investment.

Do you feel that hiring new employees is a waste of time?

The fact of the matter is, people are spending less time with companies than they did in previous generations—and it’s not because of a lack of work ethic, just because they can or they want to experience other opportunities. On average, employees in the younger generations stay in a job for 3 years or less, so you want to do everything you can to keep them as long as you can.