Launch Bold Employee Retention Programs That Work: Avoid Copycat HR

Visier

Today — at a time when hiring, new job creation, and voluntary turnover are all at 5-year highs — there is no shortage of examples of CEOs making bold (albeit more “gentle”) talent policy moves: In the wake of high-profile announcements about unlimited vacations and $70,000 annual minimum wage , the CEO of Boxed revealed that he will pay the college tuition for the children of his employees. Prove the retention problem.

10 Workforce Intelligence Cures for Improving Nurse Retention

Visier

Even though healthcare has been projected to add 4 million jobs — more than any other industry — between 2012 and 2022 , turnover is high and hospitals perennially face a shortfall of registered nurses (RN). According to a survey by NSI Nursing Solutions, the average cost of turnover for a bedside RN ranges from $44,380 to $63,400. But as the data above shows, there aren’t enough nurses to spread out the workload and provide each patient with the attention they require.

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How to Spend More Time on Your HR Strategy

Insperity

Recruiting and training new people makes turnover expensive so less turnover saves money, time and frustration. A savvy HR department can implement a variety of strategies for everything from recruiting (for example, finding people who fit positions and your company culture) to retention ( developing motivation and reward programs ) and conflict resolution (making people happier and keeping you out of hot water).

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. 3] Take the first step Even the most basic efforts to engage employees can help cut down on turnover. Turnover is costly.

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. 3] Take the first step Even the most basic efforts to engage employees can help cut down on turnover. 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.

Maybe employees don’t leave managers, after all

Achievers

The most-cited study on manager-driven turnover is the 1999 book, First, Break All the Rules: What the World’s Greatest Managers Do Differently , which is based on 25 years of research by the Gallup Organization. We know that managers contribute strongly to employee engagement, which is a strong predictor of turnover, but it would be nice to see more recent data. Employee Retention HR Trends & Analyst Findings Leadership managers turnover

How to Calculate Employee Retention Rate

Surlet

Knowing your employee retention rate is critical to understanding if employees are engaged -- or getting ready to leave. In the most basic terms, your employee retention rate is the percentage of what the Bureau of Labor Statistics calls the “separation rate.” You can do this calculation fairly simply -- but what does that employee retention rate mean for your business? What is a Good Employee Retention Rate? Employee Retention Rate by Industry.

The 7 Best Employee Retention Ideas We’ve Ever Seen

ForUsAll

Employee turnover is a frustrating problem. Employee turnover is a really difficult problem to fix, too. Employee turnover isn’t an unsolvable problem. Read on to learn about the 7 best employee retention ideas we’ve ever seen. Employee Retention

Using people analytics to improve health care performance

HR Times

Health care providers tend to lag other industries in the adoption of new business processes and technologies, and we find this to be consistent in the industry’s use of big data and analytics to improve organization performance. Yet, the successful use of data analytics in other industries could indicate that it’s time for health care systems to up their game. Using data to drive more effective health care workforce planning. Posted by Brian Augustian on August 18, 2017.

6 Surprising Data Points About Recognition

WorkHuman

The response, “more recognition than 12 months ago” rose 9% from 2013 to 2015. Interestingly, the report notes that a goal of increasing retention and decreasing turnover through recognition rose to 51% last year. We found similar results in our last SHRM/Globoforce survey —that the top organizational challenge was employee retention/turnover. 6 Surprising Data Points About Recognition Click To Tweet.

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3 Factors Strongly Linked to Better Employee Retention, According to 32 Million LinkedIn Profiles

Linkedin Talent Blog

So we applied the same calculation to the world of employee retention to see the odds of someone staying at a company — and we found three factors that are strongly linked to better retention. We looked at 32 million LinkedIn profiles to produce our own “retention curve.” Our data suggests there’s a 76% chance of an employee still being at a company after 12 months there. Either new position was linked to greater retention. Our data seems to bear that out.

Using people analytics to improve health care performance

Bersin

Health care providers tend to lag other industries in the adoption of new business processes and technologies, and we find this to be consistent in the industry’s use of big data and analytics to improve organization performance. Analytics Data analytics health care Retention Turnover

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. WorldatWork and ITA Group’s Trends in Employee Recognition 2013 , is a good example of a data driven look into why recognition programs are important.

The Employee Recognition Landscape is Changing

China Gorman

Namely, that retention/turnover is the top challenge reported by nearly 1,000 SHRM members. In 2013 and 2012, the SHRM/Globoforce surveys identified employee engagement and succession planning as the topmost HR concerns. The other surprise for me in the survey results is the data-backed understanding that values-based employee recognition is seen as contributing significantly to bottom-line organizational metrics.

Measuring the ROI of HR Programs is Critical: Here’s How Patagonia Does It

UpstartHR

Patagonia Case Study: On-Site Child Care Check out the data below, emphasis mine on the key data point. Because child care benefits are an important recruitment and retention driver for working parents, one-quarter of organizations (26%) allowed employees to bring their children to work in a child care emergency. Although this benefit has remained consistent since 2013, it decreased significantly from 32% in 2012. Dig into the data.

How Google Used Data to Validate the Impact of Good Managers

i4cp

"At Google, we strive for all people decisions to be informed by data and analytics," says Kathryn Dekas, people analytics manager. Google, which employs nearly 60,000 employees (referred to as "Googlers") across more than 100 offices in 50 different countries, has a culture that's naturally attuned to data—its founders were both engineers— "And as we all know, engineers LOVE data," says Dekas. are made with data behind them. This is data that we can do something with.

The Best Way to Prove the Worth of the Talent Function

Visier

However, new survey data released by Harvard Business Review Analytic Services reveals that reality falls far short of this objective for HR leadership. While most executives say they want their organizations to adopt a strategic, data-driven, and analytical approach to HR, 34 percent of poll respondents reported their companies have done nothing to help HR to make the transition, and no more than 30 percent have taken any positive steps.

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Survey: 93% of Managers Need Training on Coaching Employees

WorkHuman

To recap, here are the four findings and their respective posts: The top three workforce management challenges faced by organizations today are retention/turnover, engagement, and recruitment. ( The Proven Links Between Retention and Employee Experience ). Organizations that dedicate 1% or more of payroll to values-based rewards and recognition are more likely to perceive greater impacts on retention and financial outcomes. (

Surprise! Survey Shows How Employee Recognition Landscape is Changing

TLNT: The Business of HR

It’s that retention/turnover is the top challenge reported by nearly 1,000 SHRM members. In 2013 and 2012, the SHRM/Globoforce surveys identified employee engagement and succession planning as the top HR concerns. The other surprise for me in the survey results is the data-backed understanding that values-based employee recognition is seen as contributing significantly to bottom-line organizational metrics.

What WorldatWork Revealed About Employee Recognition Programs

Kazoo

Employee recognition programs, financial wellness, employee fitness, work/life balance, compensation, and career development — all of these aspects of total rewards must be customized and prioritized in order to see success in performance management and retention. Between employee recognition programs, total rewards efforts, and other investments companies already make in the employee experience, there is plenty of data on hand.

The Employee Experience Survey: A Smart Business Tool

Kazoo

You can look at side effects: turnover, how many users are engaged with an employee experience platform , absenteeism or participation in corporate programs or events. An employee experience survey is a clear way to measure the quality of your employee experience and give valuable data on where you can change. Founded in 2013, Kazoo continues to revolutionize the employee experience with its platform based on the science of motivation, rewards, and recognition.

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Employee Engagement in Healthcare: 5 Facts You Need to Know

Bonfyre

This is because the signifiers of engagement are consistent across industries–higher productivity, job satisfaction, retention, profit margins, and more. Its study observes that because employee engagement in healthcare trends higher than global norms, any goals or benchmarks set to raise these scores must reflect this data. When measuring employee engagement in healthcare, it’s critical that realistic, data-informed criteria directs your goals. turnover.

Enhance Healthcare & Quality Patient Satisfaction Via Employee Engagement

Kea

For this, employee engagement and retention needs to be the top priorities for HR. Such high turnover rates have huge repercussions for the healthcare sector, not all of which is financial. Estimated losses run at over $200,000 for physician turnover and up to $58,400 for nurse turnover, according to reports by BE Smith and NSI Nursing Solution. Patient retention matters to hospitals, in order to establishing credibility and enhance revenue generation.

5 Ways Employee Recognition Software Pays for Itself

Kazoo

So whether you are trying to help employees meet a sales goal, reduce turnover, increase participation in a wellness program, or just make employees feel more appreciated — Kazoo’s software has demonstrated that it can provide value. Employee Recognition Software Cuts Turnover Cost. Many Kazoo customers see turnover decrease once they implement the Kazoo platform. There is quite a bit of research data to support this finding, and we also have real-world examples.

Using people analytics to get to High-Impact HR

HR Times

Deloitte’s 2017 Global Human Capital Trends report tells us that 71 percent of surveyed executives see people analytics as a high priority, and are applying it to talent challenges, as you might expect, particularly in recruiting and also in performance measurement, compensation, workforce planning, and retention. Driving revenue in new and existing channels by mixing labor data with customer and pricing data to enhance the development and deployment of human capital.

Using people analytics to get to High-Impact HR

HR Times

Driving revenue in new and existing channels by mixing labor data with customer and pricing data to enhance the development and deployment of human capital. Delivering high impact—Start with believable data. Deliver data that matters to the business.

Why We Need Retail Employee Engagement Now More Than Ever

Bonfyre

Retail turnover is breaking records–bad ones. Retention is a commonly accepted signifier of employee engagement , but in retail a high turnover rate is expected. While no one necessarily wants to lose employees, attrition helps cycle unmotivated, unproductive workers out of retail stores, and voluntary turnover from more driven employees often results with them landing at a location that’s the right fit. However, retail turnover has been trending upwards as of late.

Best Employee Engagement App for Improving Company Culture

Kazoo

Lower Turnover. This is an excellent start, but doesn’t always give actionable data. It’s brilliantly simple, yet ingenious the way that you can pull data, stats, and just about any numbers that you would care about. Kazoo amplifies company culture through its award-winning employee experience platform that delivers engagement, retention, performance management, and improved business metrics.

The Art and Science of Coaching

WorkHuman

People at Google love data. This initiative is highlighted in a 2013 Harvard Business Review piece by David A. Project Oxygen conducted an in-depth study of Google’s managers and found that the highest performing managers have less turnover on their teams and happier employees. So is engagement and retention.”. They measure everything.

KPIs Alone Will Not Fix The Diversity Problem

SuccessFactors

We know bias in business undermines employee commitment, performance, and retention. In our own business, a dedicated team launched Autism@Work in 2013—our industry-leading program. We also take a data-driven approach to the analysis of pay discrepancy.

The State Of Employee Engagement In 2016 [INFOGRAPHIC]

SuccessFactors

We’re publishing that data starting today. Many times when you’re reading an HR article on Forbes or some similar publication, you’ll see a reference to a study about employee engagement that’s a few years old (it’s usually Gallup’s state of the American workplace from 2013). I’m not saying that ours is perfect, but I’m confident to say it’s more valid because of the number of users and data points we’re collecting. million data points.

The Holiday PTO Trap: Use This Scientific Method to Avoid Employee Burnout

Visier

In fact, American workers permanently lost 169 million days of earned PTO in 2013, according to a report conducted for the U.S. This can lead to burnout, a decrease in morale, and increased turnover risks. But if you approach them with data that supports your hunch, you have a much better chance of having a productive conversation. In this previous post, I outlined a “scientific” method for storytelling with data. What we discovered from the data.

How Scarcity and Attrition Might Ruin Recruitment Planning

HR Daily Advisor

Also, when you are dealing with a short supply, it may drive the organization to do more retention and more development. What do benchmark data reveal about industry and occupation trends? Turnover rate. Anticipated Supply 2013 = Sum of Current Headcount – Anticipated Exits – Anticipated Retirements. Anticipated Supply 2014 = Sum of 2013 Anticipated Supply – Anticipated Exits – Anticipated Retirements. What’s working in retention?

Overcoming the Manager Divide: How HR can Accelerate the Path to Gender Pay Equity

Visier

Similarly, a 2013 survey performed by the Pew Research Center found that: 42% of working mothers had reduced their work hours to care for a child or other family member at some point in their working life, compared with 28% of working fathers. Similarly, a study of family leave policies and women’s retention after childbirth (in the US, Britain, and Japan), found that “women who had family leave coverage were much more likely to return to work for their pre-birth employer.”

Engaging the workforce

HR Times

Performance and retention: Organizations with engaged workers may have employees who are 57 percent more effective and 87 percent less likely to leave than organizations with low engagement. This retention aspect is particularly pertinent. An organization’s ability to keep employees engaged is a valuable retention tool and a hedge against voluntary turnover. 2013). 2013).

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Engaging the workforce

HR Times

Performance and retention: Organizations with engaged workers may have employees who are 57 percent more effective and 87 percent less likely to leave than organizations with low engagement. This retention aspect is particularly pertinent. An organization’s ability to keep employees engaged is a valuable retention tool and a hedge against voluntary turnover. 2013). 2013).

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