By Amanda Dodge

There are several indexes used to track the overall health of the economy and help business owners understand the trends they see locally. These relate to consumer trends, the stock market, and employment.

The government also releases data related to employee behavior. The U.S Bureau of Labor Statistics also releases monthly data on the country’s “quit rate,” or the rate at which people voluntarily quit their jobs. The quit rate has historically flown under the radar as Congress and local municipalities alike focus on unemployment numbers as the main barometer of economic health. However, as a small business owner, the quit rate might have more of an impact on your operations – and your employees – than you realize. 

Understanding the Quit Rate

The quit rate refers to employees who leave companies of their own accord as opposed to team members who are laid off or fired.

Over the last few months, here at Xero we’ve been working with many accounting firms wanting to move their practice tools online so they can work remotely. Whilst there was a lot of enthusiasm there was also fear of the unknown – how do we make the change? Who is there to help us?

After talking with our friends at BGL, we realised their customers were facing similar challenges and we thought what better way to help them make the transition than to host an event about embracing positive change.

We invited change management experts Adaptive Change Mindset to provide their insights and tips and we heard the experiences of accounting firms who have moved from desktop to online. Here are some of the key takeaways.

1. Having the right people in place for implementation

Speaking with an account manager to learn about cloud tools before considering the implementation