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8 Tried & Tested Employee Retention Strategies in the Insurance Sector [2024 Edition]

Empuls

Employee retention is a critical factor in the success of insurance companies.    Recent studies reveal that employee retention rates in the insurance industry hover between 12% and 15% , with voluntary turnover rates showing an upward trend. The talent war for these professionals can drive turnover rates.

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10 Best HR Consulting Services In 2024

HR Lineup

Mercer’s services include compensation and benefits consulting, workforce planning, and employee engagement strategies. Aon Hewitt Aon Hewitt, a division of Aon plc, is renowned for its expertise in human capital consulting.

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Is Your Company Following its Compensation Philosophy?

Workday

Does your company do a good job of following and communicating its philosophy around compensation? A WorldatWork study sponsored by Aon Hewitt found that while 92 percent of companies surveyed have a formal compensation philosophy, only 63 percent have it in writing. Market conditions. Market comparison.

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The Increased Prevalence of DC Pension Plans is Going to Change the Way We Retire. How to Prepare?

Something Different

<www.forbes.com> …Okay, so this evening I was reading a white paper from Aon Hewitt (you can find it here ) that states the following: One of the key findings from this research is that there appears to be a welcome sense of realism among employees about their retirement prospects.

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Are You Planning on Giving Minimum Wage Workers a Pay Raise?

HR Daily Advisor

Despite recent reports showcasing organizations that are increasing employees’ pay above the minimum wage, new research from Aon Hewitt, the global talent, retirement, and health solutions business of Aon plc, reveals that 72% of organizations with minimum wage employees currently do not have a plan to pay those employees above the mandated rate.

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Half of Workers Open to Leaving Current Employers

HRExecutive

That’s according to Aon Hewitt’s latest Workforce Mindset study , which surveyed 2,000 employees. Of course, the common prescription for avoiding turnover has been keeping employee engagement levels high. What are the factors most likely to lure employees away from their current jobs? A fun place to work (58 percent).

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18 Benefits of HR Analytics For Your Business [With Examples]

Analytics in HR

Helping build equitable compensation and benefits packages 5. Preventing turnover 9. With this data, you can spot weaknesses across the business and improve these to boost efficiency, productivity, retention rates, training effectiveness, and more—all of which will benefit your bottom line. Identifying inefficiencies 11.