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Use Our Online Tool to Better Understand Government Funding Programs
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Access vital funding to help your business remain open, continue paying your employees, and recover from unplanned circumstances due to the COVID-19 pandemic.

Paychex has created an easy-to-use online tool that details the specific federal relief programs and refundable credits available through the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES). The tool includes helpful links to applications and a comparison chart of loan programs (Paycheck Protection Program and the Economic Injury Disaster Loan program) to help you address what would best meet the needs of your current circumstances.

Access the Tool

We recommend discussing these options with your accountant or trusted advisor to determine the best course of action to leverage the incentives available.

Paychex is actively working to help make the PPP loan application process simpler. If you’re a Paychex client, we’re creating a report and ensuring it reflects changes introduced April 2 by the federal government. To utilize the report, your business or your clients’ business must have run payroll with Paychex in 2019.


How Can You Curb Employee Turnover in Your Retail Business?

Human Resources

Knowing how to reduce employee turnover is one of the biggest challenges for retail business owners. Notorious for high turnover, businesses in the retail industry can struggle with retention since there are usually few benefits offered to employees, jobs are often low paying, and shift work can be demanding. That’s why it is vital for retail businesses to focus on effective retention techniques, or risk losing any competitive advantage they have due to an endless turnover in reliable staff. Take sufficient time and interest to assess what's needed to help keep employees motivated and fulfilled (and more inclined to stay) rather than abandon the job after a few weeks or months. These five suggestions can help get you started:

1. Recruit and hire wisely. The impulse to fill an open position with the first person who seems relatively suitable for the job may be tempting, but it might not be a good long-term decision. Remember, many of these individuals represent the customer-facing aspects of your business. That’s why it’s worth taking the time to look for candidates who demonstrate patience, enthusiasm for customer service, and a willingness to work as part of a team. Allow yourself ample time during the hiring process for recruiting, interviewing, and vetting job candidates before making a decision.

2. Money matters. Retail businesses can't always offer competitive salaries and bonus packages. But money matters to retail workers, just as it does to employees in other sectors. According to a 2016 Gallup survey, 44 percent of employees said they would consider taking a job with a different company for a raise of 20 percent or less. If your budget allows for it, look for ways to "bump up" wages as a means of retention.

hiring retail workers

3. Offer fair shift schedules. The demands of shift work can play a crucial role for your workforce. Retail employees often struggle to balance part- or full-time jobs with family duties, educational pursuits, and other demands on their time. This struggle can intensify when they're faced with irregular job schedules, not knowing from week to week when they're on duty and when they're not. 

You stand a greater chance of mitigating this frustration by accommodating individual schedules as best as possible. Establish a system for scheduling and exchanging shifts, and communicate the process so that everyone understands the expectations. A time and attendance system can help you manage these tasks more efficiently.

4. Provide training and advancement opportunities. Explore opportunities to provide training so employees can improve their customer-service skills or their abilities within your niche in the retail industry. Becoming more knowledgeable can also enhance their confidence in promoting your offerings and providing better service to both customers and prospects.

Training can also play an important role when employees are looking for opportunities to grow within the company. Promoting from within can be a strong retention tool; low-level staff can see the chance to move ahead (and earn more money) by sticking with the business. Look for other ways to reward individuals who take on additional responsibilities, such as a one-time bonus incentive or extra time off. Employees usually respond favorably when they're recognized and rewarded for the work they do.

5. Improve communications. Employees who leave a retail business may cite feelings of being overworked, under-appreciated, or kept out of the loop. As part of your retention efforts, look to improve communication with your team about what's needed to serve your customers, and ask for their input on this critical issue. They'll likely feel more involved if their feedback is taken seriously.

Finally, demonstrating your appreciation for a job well done can go a long way. As noted, monetary compensation isn't always an option, so explore other ways to thank your hard-working team: added paid time off, discount movie tickets or restaurant coupons, an afternoon spent off-site with fun activities, or going to a baseball game. These efforts can enhance a sense of working together – and may help convince your workers to stay put.

This website contains articles posted for informational and educational value. Paychex is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, Paychex. The information in these materials should not be considered legal or accounting advice, and it should not substitute for legal, accounting, and other professional advice where the facts and circumstances warrant.