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Benchmarking: An Important Tool in the War for Talent

HR Daily Advisor

Additionally, nearly two-thirds of the global workforce is actively or passively seeking new job opportunities, according to the ADP Research Institute’s study, The Evolution of Work 2.0. . Benchmarking. However, as the world of work evolves, so are benchmarking tools.

Curbing Employee Turnover Contagion in the Workplace

Visier

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. In other words, voluntary turnover doesn’t just happen in isolation due to an individual’s job satisfaction issues.

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ADP Research Institute Sets International Benchmark for Employee Engagement with its 19-Country Global Study of Engagement

HRO Today

Study uncovers what conditions at work are most likely to attract and keep workers: Sixteen percent of employees around the world consider themselves fully engaged, revealing 84 percent of the global workforce is not working at its full potential. Informed by data and designed for people.?

How to Save Your Company from Unhealthy Turnover and Optimize Retention

Bonusly

High turnover is a major concern for many organizations. But how do you know if your turnover really is an issue? Let’s take an analytical approach to retention. Turnover is a key HR metric and tends to be understood by leadership as a serious risk. Pre-turnover red flags.

What is HR Data Analytics & How Do We Leverage It?

Ultimate Software

Data is now the most valuable currency in the world. But in contrast to the murky ethics of sourcing and selling consumer-driven data , leveraging internal HR data analytics to make better workforce decisions has been a key Human Resources best practice for decades.

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.

Here’s How IBM Predicts 95% of Its Turnover Using Data

Linkedin Talent Blog

With the cost of replacing an employee sitting anywhere between 30 and 400% of that person’s annual salary, there’s obviously a strong financial case for investing in retention — not to mention the benefits of preserving institutional knowledge and protecting morale.

Why Employee Turnover Spikes after the Holidays and What to Do about It

Bonusly

But come January, the environment can be drastically disrupted by New Year turnover. Why is Turnover Important? And turnover isn’t just a morale-killer – it’s expensive. Why Does Turnover Spike in the New Year? Although some turnover isn’t within anyone’s control (e.g.

Data Journalism for HR: The Beginner’s Guide

Visier

For the average person, data without a narrative is like a trip into the wilderness without a compass: overwhelming and disorienting. That’s why data journalism — a kind of factual storytelling based on data — has become a big trend. Why HR Needs Data Journalism.

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15 HR Analytics Case Studies with Business Impact

Analytics in HR

For this article, I have collected 15 of the best HR analytics case studies I’ve come across in the past two years. Each of these case studies are connected with a concrete business impact. For each case study, I will refer to their original publication. Turnover at Experian.

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. According to a Gallup’s 2015 Workforce Panel study, 51% of employees are actively looking for a new job at any given time. What Is Employee Turnover?

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.

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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.

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Why Being Data-Driven Isn’t Enough

Visier - Talent Acquisition

Even the most qualitative departments, such as Marketing, moved from “art” to “science” through the use of data. . Indeed, the “art” of modern business is that everything can be quantified and measured, and data is now the single most important type of capital that an enterprise can own.

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Amazon Coming to Town? Mitigate Talent Shortfalls with People Analytics

HR Daily Advisor

A data-driven process is one smart strategy that business leaders can take to mitigate the risks—and find the opportunities—associated with Amazon’s big move. By using data and analytics, companies can create a tailored and realistic action plan aimed at retaining their employees.

How HR Can Tackle Diversity Using the Rooney Rule

Visier

Dropbox is committing to unconscious-bias training for all it’s employees (over 1,200 people), and to regularly release data on the diversity of its workforce. Metrics to watch: New hires vs. existing workforce / New hires vs. industry benchmark.

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.

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? If you don’t know these costs for your company, you can also use industry benchmarks to estimate your ROI.

How Healthcare Employers Can Manage Nursing Talent More Strategically

Precheck

First and foremost, healthcare organizations need to address problems in the work environment that can lead to employee dissatisfaction, burnout and turnover, and that starts with nursing management. Investing in additional support for nurses can also reduce burnout and improve retention.

The Future of Workforce Planning

HR Daily Advisor

Employee turnover is extremely expensive, costing up to 1.5 Glamorous and exciting perks are certainly useful tools, but studies have shown that these types of perks are not actually what employees want. Which training programs will have the biggest impact on retention?

SurvaleTM Announces Record Growth, New Capabilities and Awards for 2018

Survale

New features such as Reference Checking , Text/SMS feedback collection, Shared Insights hiring manager self-monitoring feedback views, internal peer benchmarking, new reports and more. Three new client case studies.

Build Your Team and Increase Engagement with Gamification

HR Daily Advisor

Lack of engagement is a big problem in the modern workforce, but gamification can help trainers and HR professionals find the data they need and increase engagement. There is an engagement crisis in the workplace, and it has profound implications for company performance and staff retention.

8 Questions to Ask for Effective HR Reports

EmployeeConnect

That’s why staff members complain and protest about inaccurate assessments, data-driven errors and unpopular decisions – HR reporting fails to deliver unless the HR reports dig down into the databases to get the most accurate and relevant performance information, employee profile data and business intelligence. Data-driven decision management , or DDDM, is an approach that uses verifiable data to assist in decision-making processes.

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The Employee Experience Imperative: Q&A with David Johnson

Ultimate Software

A 2016 IBM study showed that 96% of employees in the top quartile of employee experience report high levels of work performance, as opposed to 73% for employees in the bottom quartile. Several other studies prove the links between EX and objective performance measures as well.

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Employee Engagement in Healthcare: 5 Facts You Need to Know

Bonfyre

A recent study from the American Medical Association (AMA) and the Mayo Clinic found 54.4% Notably, a separate study found 45% of primary care physicians say that if they could afford to quit, they would. This is because the signifiers of engagement are consistent across industries–higher productivity, job satisfaction, retention, profit margins, and more. A 2012 study from Towers Watson found that 44% of U.S. In the healthcare industry, turnover hits hard.

New Virtual Reality

HRO Today

Adopt a data-driven approach. Data and analytics can offer insight into talent pipelines, helping organizations recruit best-fit talent. His company leverages both internal and external data to build a talent plan that can support the business.

Why We Need Retail Employee Engagement Now More Than Ever

Bonfyre

According to a Harvard Business Review study, 77% of “high prioritizers,” or strategists who believe engagement is important, say employee engagement has a considerable impact on customer satisfaction. Retail turnover is breaking records–bad ones.

A Full Guide to Compensation and Benefits

Digital HR Tech

While their findings were statistically significant and turnover is expensive, it’s probably not enough to convince a boss to give someone a 10 percent raise. A Payscale study gives some insight into the influence of salary. The data is then anonymized and sold back to businesses.

Your Guide to AI Talent Acquisition

AllyO

AI talent acquisition harnesses the ability of artificial intelligence to derive insights from large amounts of data and automate much of the labor-intensive, repetitive work that goes into hiring talent. All these aspects of onboarding contribute to employee satisfaction and retention.

View from the HR Tech Show Floor: Top 5 Workforce Trends

Visier

They are varied, but we are seeing HR focus on critical areas such as retention, recruiting, diversity requirements, and generational divides. Here are our top 5 trends for the not-so-distant future: Trend #1: Companies will double-down on retention and recruiting.

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Is Your Company Following its Compensation Philosophy?

Workday

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. 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.

Hire-to-Retire – Rethinking HR with Oracle HCM Cloud

Oracle HCM - Modern HR in the Cloud

According to EBN “ Employers can do better with Wellness ,” employers who are focusing on wellness, increase engagement, resulting in higher workplace enjoyment, loyalty, and retention. By Anshul Gupta, Director - Projects, and Aashima Sethi, Sr.

What Does Employee Engagement Mean? Everything You Need Know

Jason Lauritsen

Employee engagement isn’t a tangible, concrete thing that is easy to identify and measure like sales revenue or customer retention. The problem is that they do little to foster a healthy relationship with the employee, which leads to decreased employee engagement and higher turnover.

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. Better Retention.

KPIs Alone Will Not Fix The Diversity Problem

SuccessFactors

And when it comes to business objectives, KPIs are our go-to benchmark. We know bias in business undermines employee commitment, performance, and retention. We also take a data-driven approach to the analysis of pay discrepancy.

4 Key Ways to Align Compensation with Culture

Oracle HCM - Modern HR in the Cloud

” Market data, industry benchmarks, and application of best practices are useful, but also too generic. In a fascinating study, Dr. Pankaj M. By Jason Richmond, Chief Culture Officer and Founder at Ideal Outcomes.

The Best Way to Process Payroll [Updated for 2020]

SwipeClock

Still, other laws require that employers provide employees with sick leave and track data for a minimum number of years. Most studies show a much higher cost per employee of payroll errors). This eliminates manual processes and data entry. Turnover ratio.

How to Speak With Your Non-Profit Employees About Compensation

Compensation Today

However, when communication about compensation is handled correctly, it can increase employee trust in the organization, improve employee engagement, and decrease turnover. What do you want employees to know about the market study that you performed?

How to Buy HR Software – A Step by Step Guide Complete with Best Practices

Select Software Reviews

Process: Define the problem your organization is facing in as much detail as you can Articulate this problem into a statement such as “our organization has low retention due to a lack of employee engagement that is caused by a culture which doesn’t collect or act on employee feedback.”

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. Standing desks will run you about $200, so four years or more is an appropriate benchmark to justify a gift that costs a little extra.

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