Real-time payment (RTP) is the process of accelerating the transfer of funds between businesses and individuals from a few days to a matter of minutes. While this is the norm for credit card transactions, bank-to-bank real-time payments have been impossible until recent advancements in payment technology. For small businesses, this means faster payment processing, better…
Statistics
10 Performance Management Statistics for Small Businesses
The true benefit of performance management is its ability to create a supportive space where employees can improve their skills, leading to better work quality and increased productivity. Although widely used for strategic purposes, performance management does have its flaws—especially if not pulled off correctly. We’ve gathered key performance management statistics to provide a clearer…
The Power of Praise: 2024 Employee Recognition Statistics
Employee recognition has a profound impact on an organization’s culture, employee retention, and overall performance. The following statistics tell us that effective employee recognition not only boosts morale and motivation but also fosters a positive workplace environment, leading to increased productivity, job satisfaction, and a greater sense of loyalty and commitment to the organization. Employee…
19 Employee Burnout Statistics in 2024
Employee burnout has become a major concern for organizations, as it affects every aspect of the workplace, from productivity to retention. Stress plays a significant role in employee burnout, as chronic stressors can overwhelm an individual, leading to burnout over time. Being able to identify and address burnout is essential for the health and success…
Social Media Recruiting Statistics 2024: What Hiring Managers Need to Know
With the popularity of TikTok, LinkedIn, and Facebook, many hiring managers and HR teams have turned to these social media platforms to post jobs and find qualified candidates. This social recruiting trend is expected to grow each year as it offers a strategic approach to attracting and hiring top talents. If you’re unsure whether to…
21 Point-of-Sale Statistics to Know in 2024
The point-of-sale (POS) system is a business command center for retail merchants worldwide. Modern POS technology allows retailers to do much more than simply process payments and transactions. Some of the benefits of a POS include the ability to track inventory, monitor data in real time, build customer loyalty, sell online, and even operate in…
11 Employee Engagement Statistics and Trends for 2024
Employee engagement is an essential aspect of a successful business. It greatly influences employee productivity and turnover rates. An engaged workforce contains individuals who are motivated, willing to go the extra mile, and provide exceptional service. To give you more insight on what makes employees engaged, we have compiled 11 of the most significant employee…
28 Employee Wellness Statistics and What They Mean for You
Employee wellness is not just a feel-good issue, but an economic one. According to a 2023 ResumeLab survey, 68% of employees have taken time off work due to a mental health condition. Plus, it affects employees at all levels; the higher on the organizational chart and the more experience an employee has, the more likely…