We Almost Missed Payroll 3 Months Ago As We Reset 5 Year Old Business (Video)

Vivek Kumar - Reduce Turnover Image

October 9, 2018

Startups 101

They say 90% of startups fail. Well, we haven’t hit it big (yet) but we also haven’t died. Watch this video podcast recorded on July 25, 2018, with Nathan Latka, and two of the three Qlicket co-founders, John Goldschmidt and Vivek Kumar to learn more.

Do, or Do Not, as Amazon Does?

Last week, Amazon announced that it will pay all 350,000 of its workers at least $15 per hour. “The shift to online shopping has led many retailers like Toys “R” Us and Sears to shut down and layoff staff in cities and towns across the country, while jobs at the warehouses and sorting centers that move Amazon’s goods have boomed.”

What does this mean for every other company that manages warehouse workers? How can they compete in non-urban areas where $15 might be significantly higher than their current hourly wage?

Got Qlicket?

The compensation war for labor just escalated, and absent an ability to raise wages across the board by significant amounts, companies now need the Qlicket offering to be competitive.

Maybe it’s why we hit $1,000 in Monthly Recurring Revenue 4 months after launching this new solution?

Qlicket focuses on *Talent Retention for High Turnover Environments.* Compensation and benefits are important, but usually only account for 25% of the reason a worker quits a job. What are the other factors? And, how much does it really cost to replace each hourly worker?

There are about 160 million workers in the U.S., and according to The Economist, 25% of all U.S. workers are in environments with 100% annual turnover (our sweet spot). To learn more, please have a look at some of our research on this topic, ranked ahead of leading publications, including Harvard Business Review, the U.S. Bureau of Labor Standards, The New York Times, Society for Human Resource Management, and more:

#1 Cost of Replacing Hourly Worker
#1 Why Do Blue Collar Workers Quit

P.S. We didn’t almost miss payroll. We missed it. For 3 months with no guarantees of repayment. But not a single person from the team left. We can’t thank them enough.


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