article thumbnail

Why employee retention is important in the construction industry

Homebase

That’s why employee retention is important, especially in the construction industry. As of 2021 , the construction industry had an average turnover rate of 68%—higher than most other industries, where the average hovers between 30-40%. What is employee turnover? Employee turnover is when workers leave the business they work for.

article thumbnail

What is the Difference Between HRM and HRD?

HR Lineup

Defining HRM and HRD: Human Resource Management (HRM): HRM refers to the strategic approach to managing the employment, development, and well-being of an organization’s personnel. It encompasses various functions such as recruitment, selection, training, performance appraisal, compensation, and employee relations.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How HR Can Create a Comprehensive Talent Strategy

Analytics in HR

Talent strategy (often referred to as talent management strategy or talent acquisition strategy) is essential if organizations want to ensure they have the right talent in the right place to meet their long-term financial, marketing and operational goals and objectives. How to develop a talent strategy 1.

article thumbnail

How to Measure HR Effectiveness with 12 Key Metrics

15Five

Time-to-hire Time-to-hire refers to the amount of time between when a candidate is sourced and when they accept an offer from your company. This is slightly different from time-to-fill, which refers to the time it takes to hire from the date a new job opening is published.) But it’s also important to track employee retention overall.

article thumbnail

Recognition Boosts Employee Engagement and Productivity | ClearCompany

ClearCompany HRM

A lack of engagement can lead to a decrease in productivity and employee retention — and it’s expensive, too. For reference, disengaged employees could cost your company around 18% of their annual salary. High employee turnover rates lead to increased hiring costs, which can be as much as two times the employee’s salary.

article thumbnail

How HR Self-Service Portals Revolutionize Business Organizations

PCS

The Human Resources portal refers to the Human Resources Management System or HRMS. Employees can perform their tasks from the dashboard of this integrated suite of HR software. It leads to improved employee experience and retention while reducing turnover rates.

article thumbnail

Transforming Performance Management for Increased Agility

HR Bartender

The first refers to the ability to anticipate change and respond and the second refers to an incremental method of design. Performance management needs to do both. Performance management systems need to be flexible and adapt with the times. Agility in Performance Management. Congrats to them!