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Employee Retention: 5 Strategies for Retaining Top Talent

Bonusly

How is your team retaining top talent at your organization? Recruiting top talent and employee retention is no longer just a threat for understaffed industries—it’s something we are seeing across the board. More desirable opportunities at other companies. Employee Retention

What’s the Key to Talent Retention? Human-Centered Approaches, Says SHRM/Globoforce Report

HR Daily Advisor

HR leaders are using human-centered approaches in the workplace, which may help resolve retention, recruitment, and culture management challenges, according to a new report released by Globoforce ® , a provider of social recognition and continuous performance development solutions, and the Society for Human Resource Management (SHRM). Key insights and findings from the report include: More Human-Centered Approaches Can Help Meet Recruitment and Retention Challenges.

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10 Tips for Boosting Retention and Performance in Healthcare

WorkHuman

So it’s no surprise that turnover is one of the biggest issues facing healthcare organizations today. And yet fixing the turnover dilemma – by attracting and retaining highly engaged workers – is one of the biggest areas of opportunity in healthcare. We explored this question in a joint research study conducted by Globoforce’s WorkHuman Research Institute and the IBM® Smarter Workforce Institute. 10 Tips for Boosting Retention and Performance in Healthcare Click To Tweet.

Major Studies Detail Correlation Between Employee Engagement and Retention

Hoops

. Recent Studies Detail Correlation Between Employee Engagement and Retention. For two years running, the top two HR challenges have been employee retention and employee engagement. Engagement and retention are both the end results of consistent and positive employee experiences. SHRM/GloboForce Employee Experience Survey. The revelation about HR challenges comes from the 2016 SHRM/Globoforce Employee Experience Survey (sent to nearly 800 HR professionals).

3 Programs Adopted By Award-Winning Workplaces

WorkHuman

The 2016 SHRM/Globoforce Employee Recognition Survey report shows where to focus your efforts for the best results. We then looked at the types of programs prevalent in those award-winning organizations. Check out the chart to the right – 91% of those companies focus on learning and development, 86% focus on health and wellness, and 86% focus on recognition and appreciation. The Factors That Predict Employee Turnover. Show & Tell and Social Learning Theory at Work.

Stand by me: employee retention strategies from the pros

Workable

The generation of company men and women who spent the bulk of their working lives at one company has mostly retired. The average worker now stays at a job for about four years. Staff turnover also decreases employee morale. A 2015 SHRM/Globoforce survey puts employee retention at the top of the list of challenges facing HR leaders. If it’s yours too, read up on effective employee retention strategies from some of the best companies around.

Answers to Your Top 5 Recognition Questions

WorkHuman

Lynette graciously offered to answer five of those questions below on budgeting for recognition, the science of turnover , “non-wired” workers , and setting up your program for long-term success. Another method to achieve investment of 1% of base pay for budget for social recognition is to look at your annual bonus pool. This question was in reference to the below information shared from the results of a Globoforce customer.

Leaving Behind, Moving On

RecognizeThis!

This was also the laying to rest of Steven Colbert’s fake persona of nine years, the “well-intentioned, poorly informed, high-status idiot” that Steven Colbert (the real person and comedian) created and who helmed the nine-year run of the “Steven Colbert Show” on Comedy Central. I wonder how often that same feeling is true for our employees and fellow colleagues at work. I’m pleased to say I’ve more than doubled my prior tenure record in my time with Globoforce.

Healthcare HR and Employee Retention: 6 Key Factors to Consider

Precheck

Healthcare HR and Employee Retention: 6 Key Factors to Consider Nov. In fact, 46 percent of HR professionals cite employee retention/turnover as the top workforce management challenge in 2016, an increase from 25 percent in 2012. Consider the following six practices as you review or develop your employee retention strategy for the years to come. Wellness Programs. Here are a few things to consider as the importance of wellness programs become more evident.

A Paycheck Is Not Recognition for a Job Well Done

Compensation Cafe

But used together in a balanced way, compensation and recognition achieve goals for employee satisfaction, engagement, productivity, performance and retention. Wages are a lever you can use to drive behaviors, but other things keep your turnover low, and are less costly. The APA recently recognized six organizations for healthy workplace practices, identifying 5 factors that employees say their organizations value most: Healthy lifestyle / well-being (92%).

10 New Studies on the Benefits of Gratitude

WorkHuman

Two years ago at this time we shared a whole bibliography of studies on gratitude , showing some of the connections researchers have made between feeling grateful and things like emotional well-being, resilience, physical health, organizational citizenship and achievement. At Globoforce, we are acutely aware of the close link between recognition and gratitude, and the need for companies to offer their employees new opportunities for reflection and for expressing gratefulness.

Study 111

Top 5 Takeaways from #SHRM15

WorkHuman

Use culture to fight turnover. Derek Irvine cited an alarming statistic from the new SHRM/Globoforce recognition survey—turnover is the top HR challenge this year. Survey respondents cite positive impact of their programs on engagement, retention, safety, wellness, employer brand, and even cost goals. It’s about making meaning at work, not just money. personal emotional connections—at work.

Top 25 Employee Recognition Statistics Leaders Need To Know

Vantage Circle

Employee Recognition Statistics Relating To Retention. There is a clear connection between recognition and employee retention. Companies with effective recognition programs have 31% lower voluntary turnover. Timely rewards and recognition can be a powerful retention tool.

The Amazing ROI of Rewards and Recognition In Your Organization

Vantage Circle

If employee engagement is a boat then rewards and recognition is the well-oiled engine required to steer it to its destination. Treat your employees well and they’ll return the favor by being more productive. those with higher profits, employee retention, and engagement scores) were 14 percent more likely to focus on employee strengths. Reduced Turnover Rates. Now, more than ever, employees are likely to stay at a company where great work is frequently appreciated.

Are Employee Servcie Awards really necessary today?

OmegaHR Solutions

He further referenced a study by SHRM and Globoforce that said “ 90 percent of HR professionals surveyed said recognition programs positively impacted engagement.” The survey further said: While the prevailing wisdom is that companies implement service awards to drive retention and loyalty, our survey responses indicate a different story. Interestingly, reduction of turnover was #9 on the list, with only 45 percent of companies pursuing this as a top objective.

Visual Storytelling for HR: Are Infographics or Data Visualizations the Keys to Success?

Visier

For example, if you work in HR and want to get internal business leaders and line managers to champion a new employee retention initiative, an infographic could be a good approach. You could use an infographic to showcase significant retention metrics and explain how they relate to your initiative. This gives your audience a holistic snapshot of the retention metrics and reinforces how your initiative will engage and retain your company’s star performers.

Data 269

Data & People Analytics: A WorkHuman 2018 Recap

WorkHuman

These phrases are tossed around at industry events and conferences, but how do they apply in the day-to-day work of an HR professional? I had the privilege of attending the fourth annual WorkHuman , conference pioneered by Globoforce, from April 2-5 in Austin, TX. As a result, turnover decreases, leading to a higher return on investment from your talent. Studying the importance of recognition and social connection at work is an example of people analytics.

Visual Storytelling for HR: Are Infographics or Data Visualizations the Keys to Success?

Visier

For example, if you work in HR and want to get internal business leaders and line managers to champion a new employee retention initiative, an infographic could be a good approach. You could use an infographic to showcase significant retention metrics and explain how they relate to your initiative. This gives your audience a holistic snapshot of the retention metrics and reinforces how your initiative will engage and retain your company’s star performers.

Data 185

#Employee Feedback Is The Killer App #HR

TalentHQ

As the economy grows and the job market gets hotter, employee engagement and retention have become a top priority. out of 5), and Quantum Workplace believes engagement is at its lowest level in eight years. If we look at employee ratings of employers as a whole, we find that performance follows a bell curve. While some companies are doing very well, many are doing quite poorly — and the data shows no easy-to-spot patterns. Well that may not be enough.

Improve Employee Experience With These 10 Steps

Semos Cloud

While employee engagement is the main driver of employee performance and retention , improving e mployee e xperience will result in happier and healthier individuals as a whole. . Vigor – how employees express their enthusiasm at work. . Promote employee well-being.

13 Creative Employee Engagement Activities (That Aren’t Cheesy)

Pingboard

Engaged employees are much happier and more motivated at work, and it shows in their performance. Research shows that employee engagement makes teams more profitable, reduces voluntary turnover, and leads to better outcomes all around. Employee turnover is also at an all-time high , which has pushed many employers to explore innovative ways of engaging team members to keep them from jumping ship. Begin a wellness program. Begin a wellness program.

Top Employee Engagement Tools (Detailed Comparison)

Vantage Circle

Employee engagement tool helps measure or boost employee engagement that in turn will improve the productivity and efficiency of the employees and reduce staff turnover. Employee Wellness. Improves employee retention. Employee Recognition Employee Wellness.

Talent and HR News Weekly Update: Employee Recognition Trends

exaqueo

This week’s curated articles will get you thinking more about employee recognition and its link back to productivity, retention and more. Numerous studies demonstrate “that when companies include employee recognition as a line-item, employee behavior increases across engagement, productivity, retention, customer service, and morale.” It may surprise some that money isn’t the most effective recognition of a job well done.

Becoming Simply Irresistible: Positive work environment

HR Times

Let’s start by stating the obvious: your work environment can make or break your experience at work. At one of the largest telecommunications providers in Asia, the company’s “All Roles Flex” policy is an example of flexibility. At this telecommunications and media company, any role is eligible for some virtual or remote work by default. Some anecdotes are well-known. You can contact Josh on twitter at @josh_bersin and follow him at [link].

Trends in Employee Recognition Show Growing Importance in Results-Driven, Culture-Oriented Approach

Compensation Cafe

Published every two years, I like this report as it offers consistent comparison for trends analysis as well as interesting new insight into data each time. Not yet appearing in the top 5 but experiencing a notable increase in importance to those surveyed is the goal of increasing retention/decreasing turnover, which experience a 10 percentage point growth and now appearing in eighth place on the top goals list. Follow Derek on Twitter at @DerekIrvine.

A Complete Guide To Employee Recognition

Vantage Circle

This sincere act will boost employee morale and instill a sense of belonging at the workplace. Recognition has a tremendous potential to drive engagement, productivity, and employee retention. It can be a meaningful ‘well-done’, a high-five, or a special shout-out on social media.

Feedback: The Key to Growth, Motivation, and Company Strength

HR Daily Advisor

A toxic culture can disrupt business, resulting in low engagement and high turnover and ultimately damaging your company’s reputation. As researchers Lindsay McGregor and Neel Doshi highlighted in a recent Harvard Business Review ( HBR) article , identifying with the values and goals of your job (purpose) is one of the three key factors that motivate employees at work. At that point, the legitimacy of those who fail to adopt the new norm is called into question.

The importance of employee recognition

Interact-Intranet

At the simplest level, it needs to be about the process of communication from management to employee for a ‘job well done’ The HR Council capture it perfectly in their definition here: Employee recognition is the acknowledgement of an individual or team’s behavior, effort and accomplishments that support the organization’s goals and values. Thanksgiving at work is still failing to thrive. Source: Globoforce.

How to Influence and Strengthen Your Company's Culture

Impraise

A toxic culture can disrupt business, result in low engagement and high turnover, ultimately damaging your company’s reputation. Map out your company’s culture As researchers Lindsay McGregor and Neel Doshi highlighted in a recent Harvard Business Review article , identifying with the values and goals of your job (purpose) is one of the three key factors that motivate employees at work. At that point, the legitimacy of those who fail to adopt the new norm is called into question.

The Ultimate Guide To Employee Rewards and Recognition

Vantage Circle

As companies struggle to find a way to deal with the global economic slowdown, the simple act of recognizing an employee in a meaningful and memorable way is the missing link that can heighten the productivity levels, lower employee turnover , and create a sense of belonging. Globoforce.

28 Amazing Employee Engagement Activities To Reinvent Your Workforce

Vantage Circle

Managers are busy, employees are disengaged, and the current office culture is at havoc. Only a meager 15% of workers are engaged at work, globally! With higher motivation comes better engagement, happiness , and ultimately retention. At its base element, It is bonding over food. At Doximity , they follow the policy of GLD(Get Life Done) Wednesdays. For me, that means sitting at my dining room table with printouts of product specs and a red pen."

Becoming Simply Irresistible: Positive work environment

Bersin

Let’s start by stating the obvious: your work environment can make or break your experience at work. At one of the largest telecommunications providers in Asia, the company’s “All Roles Flex” policy is an example of flexibility. At this telecommunications and media company, any role is eligible for some virtual or remote work by default. Some anecdotes are well-known. You can contact Josh on twitter at @josh_bersin and follow him at [link].

HR TechStack – Employee Engagement Software

WhoKnows

Organizations use employee engagement software to understand employee sentiment, promote company-wide recognition of employee success, and to promote positive activities that benefit the health or wellness of the organization or its employees. There are hundreds of software & cloud based apps for modern recruitment process, at WhoKnows we have handpicked 62 most popular, widely used & recognized vendors in the market. Globoforce. Track the well-being of your team.

25 Employee Engagement Activities To Reinvent Your Workforce

Vantage Circle

Managers are busy, employees are disengaged and the current office culture is at havoc. Only a meager 15% of workers are engaged at work, globally! With higher motivation comes better engagement, happiness and ultimately retention. At its base element, It is bonding over food. At Doximity , they follow the policy of GLD(Get Life Done) Wednesdays. For me, that means sitting at my dining room table with printouts of product specs and a red pen.”.