Who Owns Retention? The REAL Employee Turnover Problem

Achievers

What’s the biggest problem when it comes to employee turnover? No one owns retention! At many companies, when turnover rises executives point to HR to fix it – whose plate is already overflowing with terminations, payroll, benefits management, and back-fill recruiting.

12 Employee Retention Strategies You Need Right Now to Delight Employees and Reduce Turnover

Imaginasium

It is reported that almost 70% of organizations indicate staff turnover has a negative impact on their bottom line. With record unemployment and over 70% of employers concerned about the talent shortage, retention is on the top of every leader’s mind. Turnover is expensive.

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What is employee retention?

Workable

This is the goal of employee retention: an organization’s concerted efforts to retain their existing staff. Employee retention is often expressed as a statistic; the percentage of employees that remain in a company for a fixed time period (e.g. How to reduce new hire turnover.

Why signing bonuses won’t save transportation’s talent shortage

PI Worldwide

The current school of thought is to offer signing bonuses. With several of the biggest names in the game offering sign-on bonuses—and money being a strong motivator to start driving—this seems like a good solution. Signing bonuses aren’t a sustainable solution to the transportation talent shortage. Increasing bonuses for drivers will eventually cause freight prices to rise, which will cost these businesses their customers.

3 Reasons Why Incentive Programs Fail to Increase Field Productivity

Rallyware for Human Resources

In order to keep workforces engaged and drive their continuous growth, companies need to thoroughly approach the development of impactful incentive programs. What kinds of incentives drive field productivity in 2019? How to ensure that your company provides the right incentives.

How to Diminish Employee Turnover: Modeling Elite Companies

Effortless HR

According to the Society for Human Resource Management, the average company experiences turnover at an annual rate of 19%, which can cost each company 20-40% of an employee’s salary in pursuit and training of their replacement.

How Healthcare Employers Can Overcome Unprecedented Turnover

Precheck

How Healthcare Employers Can Overcome Unprecedented Turnover Oct. It’s not just your organization — turnover is rampant across healthcare employers. The challenge for healthcare HR is to improve their own organizations to improve retention.

Top 100 HR and Recruitment Blogs [by Organic Traffic with Top 3 Articles Each]

Ongig

There are a ton of great HR/Recruitment blogs. Ongig, of course, has its own recruiting blog — you’re reading it right now! This includes general HR blogs, recruiting blogs, talent acquisition blogs, employer branding blogs and more. Top 3 HR/recruitment blog posts.

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.

2017 Annual Recruiting Survey

HR Daily Advisor

The HR Daily Advisor research team conducted the 2017 Annual Recruiting Survey in January 2017. Recruiting is one of the hottest issues for HR professionals (and recruiters, of course) largely thanks to an improving economy and low unemployment rates. How Do You Recruit?

The Best Employee Retention Articles and Resources from Across the Web

ForUsAll

High turnover to contend with? Revitalizing your employee retention can be a daunting undertaking, but we’re here to help. Here are all the employee retention articles and resources you’ll need to get informed, get inspired, and get going. General Employee Retention Articles.

The recruitment process: 10 things you need to master to succeed

Workable

We’d love to tell you that the recruitment process is as simple as posting a job and then choosing the best among the candidates who flow right in. There are 10 main areas of the recruitment process that, once mastered, can help you: Optimize your recruitment strategy.

Recruiting Deserves More Respect In Your Business Strategy

exaqueo

When you think of recruiting, do you think of sales or marketing? In my career, I’ve worked in and with marketing, sales, recruiting, and communications. And what I know is that most people don’t think about recruiting — at all. Your recruiters are on the front-line.

6 Employee Rewards Ideas for Blue Collar Workers

Fond

Offering incentives will boost morale, performance, and retention. . Growth incentives are especially important if you’re looking to recruit young people. These incentives can be performance-based bonuses, raises, or formal rewards programs. Retention.

2020 Workforce Trends- What You Need to Know!

Affinity HR Group

What employers need to do: Recognize that everyone who wants a job likely has a job, so your recruiting efforts should be focused on head-hunting. Retention. The importance of employee retention in this tight labor market cannot be over-emphasized.

5 Ways To Recognize Employees in the Transportation & Logistics Industry

CoreCentive

That’s an especially big problem in an industry already facing high turnover. First, the industry suffers from consistently high turnover-in some cases close to 100% annualized. You can also recognize top employees and give them the chance to be the face of those recruitment efforts.

12 Powerful Tips to Build an Employee Recognition Culture

EmployeeConnect

HR departments, which are challenged to recruit and retain the best people, are the prime movers for implementing a recognition culture that motivates and rewards employees them with essential psychological rewards that extend far beyond material incentives. This is proven by organisations with the most effective recognition strategies have 31 percent lower turnover rates due to voluntary migration of staff members.

How to Attract and Retain Top Talent

InfinityHR

Given what is at stake here, why wouldn’t you utilize every tool available to recruit, attract and retain the top qualified candidates in today’s market? Using advanced HR technology and recruiting software . Will your HR executives get “ghosted” by top talent this year?

BLR’s 2017–2018 Pay Budget and Variable Pay Survey

HR Daily Advisor

2017 Bonuses. last year) paid bonuses to their exempt employees in 2017, with 18.4% (up from 15.7% last year) of those surveyed awarded bonuses to their hourly workers, with 21.6% last year) rewarded their nonmanagement exempt employees with bonuses at the same level.

Are You Supporting Your Remote Employees?

Ultimate Software

Bloom, an economics professor at Stanford University, remote employees were found to have increased productivity by 13 percent and decreased turnover by 50 percent. Cash bonuses for not checking email or doing anything work-related while on vacation.

The Art of the Employee Referral: a complete guide with tips and examples

Workable

On the other hand, when you run employee referral campaigns, you add one additional tool to your recruiting strategy. Here are the main reasons why you should consider building an employee referral program at your company: With referrals, you can recruit….

How to Retain Young Talent in a Job-Hopping Culture

ACI Specialty Benefits

This kind of turnover comes with a cost: Companies lose time, money, and business with each lost employee. The effects are well known: At a cost to the company of about $4,000 for each new hire, it’s more expensive to recruit, hire, and train new employees than to retain existing talent.

Invest in Your Bottom Line: Financial Wellness in the Workplace

DailyPay

As with getting large groups of people to do anything, it’s wise to set up a system of incentives. You can't force an employee to comply with a financial wellness program, so we see incentives used more frequently. Those incentives can range from small, one-time bonuses to subsidized sessions with a financial planner." ( SHRM ). Nearly 80% believe offering a student loan repayment program would support talent recruitment.

Employee Referrals: A Players, Diversity Hiring, and Key Benefits

UpstartHR

Employee referrals are not a new topic in the HR and recruiting space. While virtually all companies say they encourage diversity, and the evidence for diversity as a business performance enhancement is clear, the question remains – how can we source and recruit a diverse workforce? Referrals are the most powerful tool in recruiting. Even offering financial incentives to employees for referrals is still a small price to pay for creating an army of talent scouts.

5 Ways Employee Recognition Software Pays for Itself

Kazoo

Appreciation and employee engagement are mistakenly seen as soft benefits – making it all too easy to avoid investing in an employee experience enhancement program that, at first glance, looks more like a bonus than mission-critical functionality.

Five Steps to Simplify Your Compensation Program

Astron Solutions

Step 4: Eliminate merit or pay-for-performance programs tied to base pay and instead allow for a bonus / incentive system that focuses more on outcomes and results. Bonuses represent an amount of pay that is ‘at risk’ every year.

Top priorities for HR due diligence in a corporate transaction

Bersin with Deloitte

These one-time costs could include severance, retention, equity awards, transaction bonuses, recruiting, non-compliance, and HR integration or stand-up costs. Retention concerns. Posted by Joseph Walker and Kenny MacDonald on June 21, 2019.

Tackling Total Rewards: A System for Communicating Employee Benefits

ClearCompany HRM

As the talent acquisition market heats up and retention flies to the forefront of HR Pros’ minds, a total rewards statement can be a powerful tool during performance reviews or when making counter-offers. Short-Term Incentive Pay. Health Incentive Programs. Holiday bonuses.

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4 Questions HR Leaders Need to Ask About Holiday Workers Now

Visier

Instead of copying others, you need to identify where you will gain the most advantage from adding to the costs of your workforce — whether it’s by investing in employee perks or weekly retention bonuses.

What Millennials Really Want from Employers

TalentCulture

Shortly after, 44% valued competitive wages and financial incentives, while 35% felt that good training and development programs were essential. Talent Management Workplace Culture and Innovation business employee retention Management Millennials talent strategy

The Pillars of an Effective Compensation Management Process

HRsoft

And, according to research, the majority of candidates want to hear about salary first when they’re working with recruiters. Bonuses, merit pay, stock options, travel allowances, and benefits should all be part of your recruitment strategy within your overall compensation plan.

Nonprofit Employee Compensation: Understanding the Essentials

Astron Solutions

Compensation strategies should lay foundations for sustainable growth by encouraging employee retention and long-term engagement. We’ve outlined plenty of tips for lowering staff turnover in a previous Astronology? Debunking Nonprofit Employee Compensation and Retention Myths.

The Millennial Surge: How Direct Selling Companies Should Adapt

Rallyware for Human Resources

Talent shortage , competitive markets, and disruptive technologies are not the only threats that stand in the way of recruiting and retaining millennials. Consequently, direct selling companies should take care of both financial and non-financial incentives. For example, AdvoCare , a DS company that sells dietary supplements, has recently introduced the Champion’s Pathway aimed at recognizing the achievements of its distributors by granting them various bonuses.

What it Takes to Build a High-Performance Workforce

Get Hppy

How is your recruiting strategy doing? The next time you are in need of new employees, systematically conduct the recruiting process. According to Digitalist magazine , many of top performers with critical skills are at “high-retention-risk” category.

Delving Into Data

HRO Today

People analytics” has been a hot catchphrase in the business world for years, with data promising to revolutionize recruiting, talent management, and myriad other HR processes. The leadership team was then able to introduce new programs and policies to reduce turnover among the GM population.

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