Remove 2017 Remove Benchmarking Remove Data Remove Retention and Turnover

Benchmarking: An Important Tool in the War for Talent

HR Daily Advisor

during the 3 rd quarter of 2017 was 27%– an all-time high. HR and business leaders see this firsthand as they fight to keep innovative, eager talent engaged and on their teams and are leveraging their people data to improve the hiring and talent retention process. Benchmarking. Benchmarking is the process of comparing your organization’s own processes and operations against those of your competitors. Benchmarking can help with a host of concerns.

How to Evaluate the Success of Your Company’s Onboarding Program

HR Bartender

The group can agree on things like less turnover, more employee engagement, and increased productivity. The interesting aspect of the model is, it suggests that there’s an inverse relationship between the ease in gathering the evaluation data and the value of the data. Human Resources Metrics : According to a survey from Korn Ferry, 98 percent of executives believe that onboarding programs are the key to employee retention.

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Curbing Employee Turnover Contagion in the Workplace

Visier

Finally, in late 2017, a team of Chinese scientists traced the virus back to a population of bats in a remote cave. Turnover Contagion: Tracing the Source. It’s also a lesson for HR leaders looking to treat a viral event of a different sort: turnover contagion. Turnover contagion happens when people quit their jobs simply because other people are talking about leaving, job searching, or actually jumping ship. Otherwise, examining project team data can be of benefit.

How Workday is Doubling Down on Data and Analytics

Workday

We’re living at a time when we’re awash in data, but short on ways to quickly turn that data into information we can act on with confidence. Much like the sailor in the classic Samuel Taylor Coleridge poem who laments, “Water, water, everywhere, nor any drop to drink,” the problem isn’t the quantity of data. We’re extending this visibility with two new products, Workday Benchmarking and Workday Prism Analytics.

10 Reasons To Shift To A Data-Driven High Business Impact HR Model

Visier

In order to move from this “list of challenges” to the “corporate asset list,” I have found that HR and its key functions like recruiting, retention and learning must move to dramatically increase their measurable business impacts by adopting analytics and data-driven decision-making. In order to satisfy both these needs, the next section provides the top 10 most strategic reasons for shifting to a data-driven high business impact approach.

Data 205

Top Five Turnover Causes

HSD Metrics

Data-driven Insights for Employee Retention. ExitRight ® recently updated its ExitRight norms based upon responses to benchmarked questions from all clients during 2016 and 2017. In most industries, pay ranked third in importance out of the top 12 turnover causes.

Top Five Turnover Causes

HSD Metrics

Data-driven Insights for Employee Retention. ExitRight ® recently updated its ExitRight norms based upon responses to benchmarked questions from all clients during 2016 and 2017. In our most recent norm analysis, we found interesting results by industry—and for employee turnover as a whole—that we’d like to share. Here are 2017’s top five employer influenced turnover causes across all industries, pulled from a list of 12 reasons.

ExitRight® Norms and Retention

HSD Metrics

Data-driven Ways to Improve Retention. Our article about the most important turnover causes for employees in 2017 illustrated trends across all industries and drew out some interesting exceptions. The post ExitRight® Norms and Retention appeared first on HSD Metrics.

How Healthcare Employers Can Overcome Unprecedented Turnover

Precheck

How Healthcare Employers Can Overcome Unprecedented Turnover Oct. 25, 2017. It’s not just your organization — turnover is rampant across healthcare employers. A report from NSI Nursing Solutions says the average cost of turnover for a bedside RN can range from $38,900 to $59,700, with the average hospital losing $5.1 The challenge for healthcare HR is to improve their own organizations to improve retention. Here are some tips for lowering turnover.

ExitRight® Norms and Retention

HSD Metrics

Data-driven Ways to Improve Retention. Our recent article about the most important turnover causes for employees in 2017 illustrated trends across all industries and drew out some interesting exceptions. ExitRight® now offers industry specific norms to help our customers benchmark their organization’s turnover trends against peers in their industry. The post ExitRight® Norms and Retention appeared first on HSD Metrics. Articles Employee Retention

Five Powerful Ways Your HR Team Can Leverage Big Data

SuccessFactors

The term “Big Data” seems mysterious to many HR organizations. Big Data describes the huge amount of data, both structured and unstructured, that people and systems are using. But only the data that affects business greatly on daily basis counts. Even so, this amount of data is usually so large that traditional software can’t analyze it. How people use Big Data for business. Data can actually make a big difference if used wisely.

Delivering talent to your industry: Public Sector

InforHCM

There is a wealth of information that is applicable to all industries and their hiring strategies in The Center for Digital Government’s report called “Improving Recruitment and Retention: How new science-based talent solutions can help government agencies hire, develop and retain the right employees for the right jobs.”. Data analytics heralds a new recruiting model for state and local governments. Get the full report on Improving Recruitment and Retention.

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.

The Secret To Selecting and Measuring Key Employee Performance Metrics

EmployeeConnect

In the past, companies usually measured employee engagement by analysing turnover rates. Unfortunately, that strategy relies on 20/20 hindsight instead of identifying practical ways to reduce turnover proactively. Actionable or Achievable Gathering data isn’t useful unless you can act on the intelligence in some way. Rules for Determining Key Performance Metrics The most effective performance metrics include both strategy-based and goal-based benchmarks.

Introduction to Recruiting Metrics FAQ

Workable

Here are frequently asked questions and answers about recruiting metrics to help you understand recruiting data and use it to boost your hiring: Intro to Recruiting Metrics. If you want to dig deeper recruiting metrics that matter, add metrics like application completion rate, hiring manager satisfaction or new hire turnover. The first step is to determine what kind of data you need to monitor. Hiring software, like an HRIS or ATS, can help you collect relevant data.

Calculating Your ROI with Talmetrix: Free Trial of Our ROI Calculator

Talmetrix

Studies have linked increased employee engagement to better productivity and reduced turnover – but what about its impact on your financials? We created our proprietary ROI calculator to measure three key data points: turnover rate, cost to replace an employee, and how increasing engagement can reduce turnover rate. If you don’t know these costs for your company, you can also use industry benchmarks to estimate your ROI.

3 HR Talent Metrics You Should Start Tracking Today

Namely

The talent lifecycle is rich with data that often goes untapped. But you can use this data to identify and hire top talent, create a more objective method for evaluating candidates, and invest HR resources into the right talent sources. Rather than relying on instinct or intuition, data can help inform better hiring practices and allow you to track how that hire has panned out over time. So how do you use your data to start making strategic talent decisions?

The Future of Workforce Planning

HR Daily Advisor

Employee turnover is extremely expensive, costing up to 1.5 Thanks to cloud services for data analytics, scenario planning, and predictive technologies, it doesn’t have to be this way. Modern workforce planning tools aggregate data about relevant employee attributes and figure out what needs to happen for everyone to perform at their best. Which training programs will have the biggest impact on retention? Strategic HR data employees managers Workforce Planning

Introducing Insights: User-Friendly Reporting & Analytics To Unlock Your Hiring Metrics

Hireology

Insights enables business owners and talent acquisition leaders to gain a clear understanding of hiring performance across locations and managers, and shows this success compared to peers using industry-specific benchmarks. Use the data to drive conversations between managers and team members to ensure all applicants are reviewed and proven process steps are followed. Turnover/Retention – What is my new hire turnover?

What Your Employee Engagement Score Says About You

SuccessFactors

There’s a business goal too, which is to deliver increased productivity and revenue, while achieving a healthy turnover of employees. But if we don’t measure engagement often enough or measure the right metrics throughout the year, then engagement surveys will become another pointless set of data. Setting a benchmark for engagement that impacts business priorities is key to having it put on the company agenda.

Is Your Company Following its Compensation Philosophy?

Workday

Special perks like Friday yoga or in-chair massage, retention bonuses, and large cash incentives for employee referrals may be critical components. By regularly conducting fair market salary benchmarking, you can identify if there are any major gaps in your compensation plan. While important, retention and satisfaction numbers don’t tell the whole story. Looking at historical data and reports on your organization’s current compensation measurements is critical.

How to Make Your Coworker’s Next Work Anniversary Unforgettable

SnackNation

The Gen Xers at your workplace probably scoff at the idea, but celebrating employees who make it to the one year mark is a vital retention strategy. According to the Harvard Business Review , a study of more than a million respondents found that voluntary turnover peaked one year after their start dates. That’s according to the SnackNation 2017 State of Company Culture Report , which parsed thousands of data points from our national company culture survey.

Video 61

Banking Industry Plans to Increase Hiring, Salaries in 2018

HR Daily Advisor

The labor market is tightening and turnover is increasing, but banks are planning to grow employment, according to data from the Crowe Horwath LLP 2017 Bank Compensation and Benefits Survey. The survey, which compiled data from 375 banks, also shows salary and bonus benchmarks for 263 job positions. This position should lead a bank’s strategy for hiring and retention, so this data point is particularly concerning,” said Reimink.

Five Barriers to Improving Employee Engagement

Energage

Deloitte’s 2017 Global Human Capital Trends report pointed to “The Employee Experience: Culture, Engagement, and Beyond” as a top trend. Bersin’s Predictions for 2017 reported, “the topics of culture and engagement will continue to be top priorities, and we can now measure them closely.”. In April 2017, American Airlines announced it was proactively increasing the pay for pilots and flight attendants, two years ahead of contract negotiations.

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.

The Compensation “Off-Season”

Decusoft

They can provide valuable input and information regarding compensation programs effectiveness and as we all know, not all talent acquisition and retention issues are about pay. Review turnover. Specifically focus on regrettable turnover. Conduct a post turnover survey of employees who have been gone at least 12 months. After they have settled into their new norm, there is a tendency to be more honest, which provides you with better data.

Onboarding: Your Upfront Investment in Employee Performance

Everwise

In today’s increasingly competitive talent market , what if there was a way to improve retention of top employees? Companies are embracing technology to take an innovative employee-experience approach versus the age old employee data management method of onboarding. This engagement manifests itself in three key performance areas for businesses: retention, productivity, and profitability. Better Retention. This observation is corroborated by the data.

TalentGuard Announces New Reseller Partnership in Latin America

TalentGuard

Austin, Texas – April 10, 2017 – TalentGuard, the Predictive People Development company, today announced that WWT has joined the TalentGuard Channel Partner Network. Through the partnership with WWT, TalentGuard aims to become more accessible to organizations in Latin America to provide solutions to improve employee engagement and retention among employees. “Engagement, employee retention and development are important priorities for companies in the Latin American region.

Opinion: Why ‘bad’ data can be good news for your organisation

cipHR

When HR professionals talk about data analytics , generally they focus on the good stuff. But every employer is at a different point in their data journey; some we work with have very little or even no people data to draw on at all, while others use a balanced scorecard to identify their financial, internal, customer, learning and growth metrics. For example, in our field of dispute resolution, a commonly cited financial metric is staff turnover.

The 5 biggest challenges facing remote workers (and how to solve them.)

Interact-Intranet

Failure to address these causes decreased productivity and employee engagement, an impact on overall team morale, increased staff turnover, and a negative impact on business outcomes. That lack of ‘connection’ with a business is also linked to lower levels of reliability and retention. It’s a process that can result in burn-out, dissatisfaction and ultimately, staff turnover.

5 Data-Based Reasons to Make Employee Education a Priority

Achievers

But before you discard this idea, let the data speak for itself. Having the right data to back up your initiatives always makes it easier to get additional funding and leadership support. Check out these five data-based reasons why you should make employee education a priority in your business. Offering Employees Training and Development Increases Employee Retention. As a manager or HR professional, you’re well aware of the costs associated with employee turnover.

Retaining Home Healthcare Workers with Employee Engagement Surveys

HR Daily Advisor

Employee retention and satisfaction are more central to leadership agendas and a top priority at strategic planning sessions and industry conferences. Surveys Help Improve Communication and Reduce Turnover.

HR TechStack – Onboarding Software

WhoKnows

For hourly workers, turnover is a major problem in the first 120 days where approximately 50% leave their new jobs. Note: The list is not in any particular order, and the list is constantly updated, bookmark this page for your future reference & fresh data. It is all there – all of your workforce data – in one system, and that is important. Built-in features include career portals, social sharing, candidate data analysis, onboarding and more.

Onboarding checklist for remote employees

Interact-Intranet

With many employees making the decision to stay with a company long-term within the first 6 months , and employee turnover costs and impact high on the management agenda, it’s an area seeing increasing investment. By being clear about who you are, you’re also more likely to attract candidates who align with your company culture – increasing the chance of a good fit, and retention rates. Increase employee retention , and deliver associated cost savings.

Seven Steps to Meaningful Diversity and Inclusion Metrics

i4cp

And due to the need to measure along custom criteria, a number of private companies have metrics they use to measure their own programs against their own internal benchmarks. For example, let’s say that the turnover of female top performers in your organization is costing $1.5 For example, continuously track increases of female hires, promotions to management, and narrowing of turnover gaps. In the world of business, metrics hold a special place—and rightfully so.

HR TechStack – Performance Tracking

WhoKnows

Retain historical review data or integrate with third-party applications where historical data can be maintained. Note: The list is not in any particular order, and the list is constantly updated, bookmark this page for your future reference & fresh data. It is all there – all of your workforce data – in one system, and that is important. BetterWorks provides enterprise software to power performance with goals/OKRs, feedback and data.

HR TechStack – Applicant Tracking Systems

WhoKnows

Note: The list is not in any particular order, and the list is constantly updated, bookmark this page for your future reference & fresh data. The core capabilities of the solution include human resources management, payroll, benefits, talent management, compliance, time and labor management and analytics and benchmarking. JazzHR is also the creator of Crowd, the HR industry’s first integrated crowd-sourcing, big-data and predictive analytics initiative.

HR TechStack – Onboarding Softwares

WhoKnows

For hourly workers, turnover is a major problem in the first 120 days where approximately 50% leave their new jobs. Note: The list is not in any particular order, and the list is constantly updated, bookmark this page for your future reference & fresh data. It is all there – all of your workforce data – in one system, and that is important. Built-in features include career portals, social sharing, candidate data analysis, onboarding and more.

How Hospitals Can Shed 3 Myths Hindering Employee Engagement

HR Daily Advisor

Hospitals and health systems can discard three myths of employee engagement to improve patient satisfaction and Medicare reimbursement and raise their image for patient safety with well-designed initiatives, according to the new report Data-Driven Insights for Your 2017 Employee Engagement Strategy, released by Advisory Board. “The data show the steps every organization can take to improve their own engagement and drive successful care transformation.”

Hospitality Industry Rife with Gender Pay Gaps

HR Daily Advisor

The 2017 Restaurant Management Salary Survey Report, the third annual report from Gecko Hospitality, the largest hospitality recruiter in the United States, finds the gender pay gap is still widespread, with starting pay and bonuses for men considerably higher than for women. Gecko Hospitality’s annual report is widely considered to be the industry benchmark for job titles, salaries, gender comparisons, location, turnover, and pay increases. Current Data and Trends.