The Millennial Turnover Problem in the Financial Services Industry

Get Hppy

The phrase “churn and burn” is commonly used to describe an industry’s high turnover rate. Based on recent data, it’s appropriate to use that phrase when describing the financial services industry. Employee turnover

Engage to increase retention

CultureAmp

1] For these reasons and more, employee turnover can present a serious obstacle to an organization’s success. Thankfully, there are actions you can take that have been proven to improve retention. 6] Of course, some sectors may have naturally higher turnover rates than others.

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

What Is Employee Turnover (and Why It Matters)

Zenefits

At some point, if your business is more than one person, you’re likely to deal with employee turnover. What Is Employee Turnover? A common definition of employee turnover is the loss of talent in the workforce over time. How Does the US BLS Calculate Turnover?

Engage to increase retention

CultureAmp

1] For these reasons and more, employee turnover can present a serious obstacle to an organization’s success. Thankfully, there are actions you can take that have been proven to improve retention. 6] Of course, some sectors may have naturally higher turnover rates than others.

Four Common Tech Ageism Myths Debunked With Data

Visier

Between 2008 and 2015, it was the subject of 226 official complaints filed against Silicon Valley’s biggest tech companies. Here are four common ageism myths we debunked with the data: Myth #1: Older tech workers are less valued.

Data 306

Four Common Tech Ageism Myths Debunked With Data

Visier

Between 2008 and 2015, it was the subject of 226 official complaints filed against Silicon Valley’s biggest tech companies. Here are four common ageism myths we debunked with the data: Myth #1: Older tech workers are less valued.

Four Common Tech Ageism Myths Debunked With Data

Visier

Between 2008 and 2015, it was the subject of 226 official complaints filed against Silicon Valley’s biggest tech companies. Here are four common ageism myths we debunked with the data: Myth #1: Older tech workers are less valued.

More Voluntary Turnover: What Does That Mean for HR?

HR Daily Advisor

Is it just me, or does it feel like everyone is reporting on the Bureau of Labor Statistics (BLS) data that shows that more and more employees are quitting their jobs? The reports say that the number of voluntary terminations is at a level not seen since 2008 [i].

8 Things You Need to Fix to Increase Employee Retention

Linkedin Talent Blog

Recently, the Department of Labor reported that turnover is now at its highest level since 2008. Because a lot of executives don’t realize the tremendous cost of turnover: (e.g. Without data to understand problem areas and plan ahead, it’s no wonder retention efforts are failing.

Infographic: 5 Reasons Why Employee Retention is So Difficult - DecisionWise

DecisionWise

Why is employee retention so difficult? A valid question, especially for those of us that went through the 2008 recession. But the latest data from the US Department of Labor in 2014 shows average tenure is at its highest point over the past 30 years.

7 Reasons Your Employee Retention Efforts Are Failing, and What You Can Do About It

Linkedin Talent Blog

The Department of Labor reports that employee turnover is now at its highest level since 2008. However, it’s a fact that most corporations spend more time on product inventory turnover than they do on employee turnover, even though employee turnover often has a much higher impact.

The Recognition Landscape Isn’t Changing Much

China Gorman

Recognition programs are vital tools in an organization’s total rewards strategy, but beyond the knowledge that “recognizing employees is a good thing to do” we can look to data that back up recognition programs as an important part of an organization’s culture.

Talent Shortages Hit the Levels of 2007: In-house Talent Development Comes to Rescue

Rallyware for Human Resources

ManpowerGroup data shows that 40% of employers have difficulty in filling positions today. A German study from 2008 showed that the percent of committed employees was highest in companies with an employee-oriented corporate culture (45%).

How to Measure the Value of People Analytics

Reflektive

According to Google Trends, the search term “people analytics” was almost nonexistent until about 2008. It’s the use of people-related data, from a range of sources, to guide strategic decision-making throughout an organization. The progression looks like this: Data collection; people analytics; data-driven decision-making; improvement in employee hiring, development, and engagement; improved workforce productivity; return on investment; competitive advantage.

How SRS Distribution Overcomes Industry Challenges with Culture Management

CultureIQ

Companies that fail to successfully integrate the new company into the existing culture can expect to see high turnover and low retention rates, missed targets, and poor performance , which will in turn affect the quality of the product or service they provide their customers.

As Recession Looms, Financial Wellness Is The Future

Best Money Moves

After years of American economic growth in the wake of the 2008 housing market crash, experts are increasingly worried that another downturn looms on the horizon.

What is Talent Management? 5 Tips to Do it Right

Digital HR Tech

Talent management touches on all key HR areas, from hiring to onboarding and from performance management to retention. A good example is unwanted turnover. This can be achieved through better branding, better retention, better selection, et cetera. Another example is HR data analytics expertise to make sure you get the most out of your existing population. An example of reputation gone wrong is the banking sector in recent years, especially after the 2008 crash.

Fire-Rehire Practices Particularly Inefficient in a Tight Talent Market

Lee Hecht Harrison

Our data further suggest that larger corporations on average rehire 10-15% of their laid off employees. While there is no easy answer, one solution is to embrace a redeployment strategy—and not just as part of a redundancy process, but as part of a larger talent retention strategy.

10 Amazing Company Culture Consultants You Should Hire Right Now

Fond

Since partnering with The Table Group in 2008, he has worked with leaders to positively impact their organizations in both their bottom-line results and their organizational culture. Her methods result in improved employee retention, productivity, and a strong sense of belonging at work.

Is it time for a culture check-up?

HRExecutive

When Lisa Bettinger Buckingham took the HR reigns at Lincoln Financial Group in December 2008, the financial-services industry was struggling to survive a global economic crisis that many economists today believe brought the world to the brink of a second Great Depression. At Lincoln Financial, four measures comprise its “engagement index”—passion, effort, advocacy and retention. Lincoln employs a number of avenues for gathering culture-related data.

Around the Bonfyre with Reneé Maxwell of Hansgrohe North America

Bonfyre

For Reneé Maxwell, employee retention, successful training and development, and internal promotability stand out as key signifiers of employee engagement. When you get into the details of it, for us employee engagement is a reflection of retention, promotability, and advancement. Happy workers are great and you have lower turnover, but what are we doing with it? Year over year for the past five years we’ve had about 8% turnover.

Perspective: Why #1 Matters in Background Screening

Aurico

The adverse impact associated with negligent hiring and retention, especially as the result of a less than thorough and legally compliant background screen, can devastate a company. 1 The background screening company that provided data from a bulk data collection service and potentially failed to confirm the information with the official court records. In today’s society, a company’s reputation can make or break its business.

iCIMS - Technology for Induction - and ensuring Quality of Hire ~ HR.

Strategic HCM

The high first year turnover experienced in many, many organisations isn’t usually down to poor selection, it’s about everything else that’s going on instead. Run reports to gather data on induction by location, workflow, iForm completion, and more. ► 2008.

iCIMS 73