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. Long-Term Incentive Pay (stock options, restricted stock or performance) shares. Health Incentive Programs. Seminars workshops and conferences. Holiday bonuses. What is total rewards? MORE

59 Awesome Employee Engagement Ideas & Activities for 2018 (Plus 10 New Bonus Ideas). HR managers can agree that employee engagement and retention are at the top of their priority list. Free bonus: Download this entire list as a PDF. Includes 5 bonus ideas not found in this post. Maybe your team would benefit from a creativity workshop or team-building seminar to improve in-office relationships. Here are 10 bonus ideas! MORE

For the success and long-term health of any business, employee retention is one of the key elements. Employee retention is the ability of an organization to retain employees by addressing their needs to enhance job satisfaction. The HR department is responsible for making efforts like training of employees, issuing bonus and other incentives, improving employee retention strategies and improving the workplace environment. MORE

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. To measure it, use the following employee retention rate formula: Employee retention rate formula: What is an employee retention strategy? Reasons why employee retention is so important for an organization. MORE

Offering educational seminars, classes, and courses is the most obvious way to address this issue. The lack of time means that educational seminars must be arranged during work hours and preferably in person. 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. Why are we talking about financial literacy? MORE

A well-planned compensation management approach ensures that your organization’s pay in terms of salaries and bonuses is competitive compared to others in the industry, appropriate for your organization, and equitable. Learning seminars. MORE

Employers who experience high employee turnover lose a lot of time and money to new hire searches, interviews, onboarding and training. A high employee turnover rate happens for a variety of reasons; some workers take on a job for extra cash before returning to school or while searching for a new job that is more in line with their career goals. The following three tips can help you improve employee retention. Offer Employee Incentives. MORE

Employers who experience high employee turnover lose a lot of time and money to new hire searches, interviews, onboarding and training. A high employee turnover rate happens for a variety of reasons; some workers take on a job for extra cash before returning to school or while searching for a new job that is more in line with their career goals. The following three tips can help you improve employee retention. Offer Employee Incentives. MORE