Does A Shorter Workweek Boost Workplace Productivity?

Career Metis

Over 100 years later, selective household names are pushing the tide towards a shorter working week with no decrease in pay to test if this boosts productivity and improves wellbeing. The post Does A Shorter Workweek Boost Workplace Productivity?

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. Low engagement, higher costly turnover When a valued person leaves your organization the departure can come with a variety of costs. Among others, they can include loss in productivity, expenditure of resources and negative impact on morale. Turnover is costly.

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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. Low engagement, higher costly turnover When a valued person leaves your organization the departure can come with a variety of costs. Among others, they can include loss in productivity, expenditure of resources and negative impact on morale. Turnover is costly.

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. But learning how to calculate employee turnover rates, assuming certain costs with lost staff, and building a business plan that anticipates some amount of employee turnover can better prepare you and your business for voluntary terminations. What Is Employee Turnover? A common definition of employee turnover is the loss of talent in the workforce over time.

More Voluntary Turnover: What Does That Mean for HR?

HR Daily Advisor

The reports say that the number of voluntary terminations is at a level not seen since 2008 [i]. For employers, this continued increase in voluntary turnover is worrisome for a few reasons: When employees voluntarily leave, there’s an increased risk of losing a star employee (as opposed to losing someone who was about to be let go). Higher turnover, in general, means higher expenses for an employer due to the increased costs associated with needing to hire more new employees.

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. And, the cost of each employee who walks out the door is $100,000 worth of product. Without data to understand problem areas and plan ahead, it’s no wonder retention efforts are failing. How a lack of data hurts your retention efforts and what you should do. Employee Retention

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. This inverse resource allocation occurs because the HR retention function often doesn’t spend time calculating and reporting the actual cost of turnover in dollars.

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

Rallyware for Human Resources

They focused on delivering a personalized and affordable-in-a-crisis quality product. A German study from 2008 showed that the percent of committed employees was highest in companies with an employee-oriented corporate culture (45%).

These Companies Made Work-Life Balance More Than a Buzzword—and Even Boosted Productivity

Linkedin Talent Blog

Employees working in cultures that promote an exhausting and unhealthy work ethic are more likely to experience stress , sickness , and burnout —hurting retention, performance, and morale. The annual turnover rate was 22%—below the industry average of 27% , but still far from ideal.

How to Measure the Value of People Analytics

Reflektive

According to Google Trends, the search term “people analytics” was almost nonexistent until about 2008. 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. Turnover rates within the first year. Retention and Turnover. Turnover in management positions. Diversity turnover.

How HR Managers Affect the Loyalty of Millennials at Work

Flimp Communications

If your goal is to slow or stop your cycle of turnover, understanding is the first step. Many were earning their college degrees in 2008 and 2009 when the recession first struck. We want to be part of a productive team doing something that matters. Employee Engagement Millennials at Work Employee Experience Employee Retention Human Resources Training and Development

Full-time vs. Part-time Employee Benefits: How to Offer Both

Zenefits

The United States economy was on the rebound during the 12 years following the 2008 recession. Big-box retailers, some with historically high turnover rates, responded to the tight labor market by extending benefits to part-time workers. Benefits Hiring & Retention

Employ Millennials? Here’s Why You Should NOT Try To Retain Them

Business2Community Leadership

Where we used to talk about climbing the career ladder, we now refer to Sheryl Sandberg’s metaphor of navigating the jungle gym (or, in the UK, the climbing frame) – and the issue of employee retention, or how to recruit and keep the best candidates – is front and center of most founder’s and startup CEOs’ minds. The collective narrative that is alive and well today takes as ‘fact’ the idea that retention is critical to long-term success.

Creating a High Trust Culture: Who is Responsible?

Culture University

Right now, organizational trust is being stretched to its limits, perhaps even more so than following the 2008 financial crisis. Count how many of the following signs are present that indicate a low trust culture: Low energy, low productivity and burnout. High employee turnover and excessive use of sick days. Thriving innovation and productivity.

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. We were founded in 2008, initially formed to acquire the 8 branches of Suncoast Roofers Supply out of bankruptcy. How One Company Makes Culture Its Competitive Advantage in the World of M&A.

How People Analytics Delivers Financial Impact [New Report]

Visier - Talent Acquisition

These are the employee lifecycle activities from hiring to retention, as well as organizational effectiveness activities from optimizing planning to optimizing productivity. . Reducing turnover by retaining new hires, top performers, managers, and other key roles, saving as much as $15 million. The 2008 economic downturn showed that during a recession, revenue growth is replaced by profit sustainability and for some, profit growth.

Unemployment Is Down. Will Your Employees Jump Ship?

HR Daily Advisor

Employers now have more reason to be concerned that turnover rates will begin to rise again. The Department of Labor (DOL) confirms this is already happening: In November 2014, the number of people who are voluntarily quitting reached its highest level since 2008 ii. Reducing Turnover in a Growing Economy. This situation makes employee retention efforts more important than ever. Here are several tips for turnover reduction: Assess employee engagement and satisfaction.

Fire-Rehire Practices Particularly Inefficient in a Tight Talent Market

Lee Hecht Harrison

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. All over the world, employment numbers are reaching their highest levels since the 2008 global recession.

The Art of Matchmaking Blog Series: Step 3

HR Management

Research has shown that these techniques lead to higher job satisfaction, better job performance, greater commitment to the organization, and reduced turnover. Companies who implement an effective onboarding program during the first three months of new-hire employment experience 31 percent less turnover than those who don’t” Aberdeen Group. In 2008, Mrs. Vargas acquired the exclusive license for the sales and distribution of Profiles International in Puerto Rico. All Aboard!

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. An example of reputation gone wrong is the banking sector in recent years, especially after the 2008 crash. When people are promoted internally, they also need support to achieve maximum productivity.

7 Great Reasons to Focus on Employee Engagement

Thrive Global

Increased staff retention. Turnover not only has a disruptive effect on your business and services but also adds an additional expense regarding recruiting, onboarding and training new employees. Higher productivity. Happy people are productive people, and highly engaged people fall right into that happy category. In my experience, I would say that this is a conservative estimate, but even so, a 21 percent increase is a significant boost to productivity.

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. If your company wants to improve employee engagement and retention, Dr. Schissel-Loosbrock is a leader in the field. You’ve seen the news.

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. The classic sense is that happy workers make productive and financially successful organizations. 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?

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.

Diversity and Inclusion in the Workplace: How to Create More Inclusive Careers

Paddle HR

We’ll also demonstrate how having a diverse workforce is beneficial for revenue, employee engagement, and retention, and present four proven strategies that can help make diversity and inclusion a seamless part of your company’s culture. million scientific papers written between 1985 and 2008.

Diversity, Inclusion, and Belonging (DIB) in the Workplace: How to Create More Inclusive Careers

Paddle HR

We’ll also demonstrate how having a diverse workforce is beneficial for revenue, employee engagement, and retention, and present four proven strategies that can help make diversity and inclusion a seamless part of your company’s culture. million scientific papers written between 1985 and 2008.

These 6 Companies Made Work-Life Balance More Than a Buzzword

Linkedin Talent Blog

Employees working in cultures that promote an exhausting and unhealthy work ethic are more likely to experience stress , sickness , and burnout —hurting retention, performance, and morale. The annual turnover rate was 22%—below the industry average of 27% , but still far from ideal.

A Compelling Business Case for Employee Engagement Initiatives

Vibe HCM

44% Higher Retention 2. 51% Less Turnover 6 Side notes: Turnover costs the American economy over $300 Billion dollars each year. Higher volunteerism by employees leading to 31% Higher Productivity 9. The American author/speaker Zig Ziglar once said, “Profitability comes from loyalty, productivity, and having a character base from which to work.” Source : Harvard Business Review 1994 and updated July, 2008 Service-Profit Chain Reports.

What Employee Engagement Means to Recruiters & The Staffing Industry

Vibe HCM

44% Higher Retention 2. 51% Less Turnover 6 Side notes: Turnover costs the American economy over $300 Billion dollars each year. Higher volunteerism by employees leading to 31% Higher Productivity 9. Source : Harvard Business Review 1994 and updated July, 2008 Service-Profit Chain Reports. Source: March, 2008 – Employee Satisfaction Contributes to the Bottom Line – The Wharton School of Business.

What Employee Engagement Means to Recruiters & The Staffing Industry

Vibe HCM

44% Higher Retention 2. 51% Less Turnover 6 Side notes: Turnover costs the American economy over $300 Billion dollars each year. Higher volunteerism by employees leading to 31% Higher Productivity 9. Source : Harvard Business Review 1994 and updated July, 2008 Service-Profit Chain Reports. Source: March, 2008 – Employee Satisfaction Contributes to the Bottom Line – The Wharton School of Business.

Are you missing out on a rich source of needed talent?

HR Times

In reality, companies that hire the LTU experience higher retention rates and enjoy greater workforce loyalty. At the same time, turnover in some industries can reach 40 percent. 14 By hiring the LTU, you can not only increase community standards of living and the number of people able to afford your products and services, but also attract customers who actively seek to patronize businesses that support local communities. Journal of Labor Economics, 2008.

Avoid 3 Critical Business Disrupters: Upskill Your Frontline Workers

i4cp

While the last jobs report showed a reduction in the unemployment rate to 4.9% (the lowest rate since 2008), there are still 8.7 Insufficient development of these employees can negatively affect their product and company knowledge and marginalize their customer service skills. Lack of follow-through with employee development jeopardizes the readiness of these workers to take on greater responsibilities and also contributes to high turnover.

How These 4 Companies Are Embracing Flexible Work — and Why You Should Too

Linkedin Talent Blog

And although 36% of women and 29% of men say flexibility really matters when they make job decisions, fears about communication, productivity, and lack of oversight hold many companies back from fully embracing these desirable policies. To prove that, here are four companies that have nailed flexible work options, leading to more satisfied employees, higher retention, and even lower overhead costs.

Perspective: Why #1 Matters in Background Screening

Aurico

Ethically minded consumers, anti-globalists, and informed investors are not just concerned with whether a product or service is good; they also want to know how any company they partner with is publicly perceived. 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. In today’s society, a company’s reputation can make or break its business.

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. Twenty-seven percent of workers globally report severe stress, anxiety or depression over the past two years due to their financial situation, with worsening financial well-being diminishing employee productivity, engagement, and health. “It’s

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. And one very good example of effective onboarding / induction technology is the product provided by this blog’s sponsor, iCIMS. This system helps ensure employees are productive as quickly as possible - having access to all the information they need, and being able to provide their own data online.

iCIMS 56

5 ‘Ridiculous’ Ways Patagonia Has Built a Culture That Does Well and Does Good

Linkedin Talent Blog

But its signature product may be its irreverent, unconventional, one-of-a-kind culture. Let My People Go Surfing turns out to be a hell of a retention play — Patagonia only has about 4% turnover each year. “I Which is why Dean was able to say in all seriousness: “At Patagonia, we consider our kids our best product.”. You know, 2008 was not a good time for Patagonia and a lot of companies.