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Employee Retention: 12 Strategies to Retain Your Top Talent

FingerCheck

A high employee retention rate is often a sign of a healthy business. Here, we’ll review what employee retention means, how it works, and how you can keep your best employees. What Is Employee Retention? Employee retention is the science of reducing employee turnover. What Are the Benefits of Employee Retention?

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Why employee retention is important in the construction industry

Homebase

That’s why employee retention is important, especially in the construction industry. As of 2021 , the construction industry had an average turnover rate of 68%—higher than most other industries, where the average hovers between 30-40%. What is employee turnover? Employee turnover is when workers leave the business they work for.

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Attrition versus turnover: What’s the difference and why does it matter?

Insperity

What do you think of when you see the terms “employee turnover” and “employee attrition?” For many of us, these phrases call to mind workplace dysfunction, job losses or even confusion, because turnover and attrition are closely related ideas. What is employee turnover? So, the turnover rate in this example is 21.62

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What Is The Average Employee Retention Rate by Industry? [2021 Update]

DailyPay

This makes measuring employee turnover more important for employers. How can you gauge if you’re spending too much on employee turnover? What is the average employee retention rate? SHRM predicts the annual turnover rate to be close to 19%, and also assumes that the average cost-per-hire to fill a position at $4,129.

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6 tips for reducing employee turnover

Hppy

Keeping your employee turnover low is one of the most important parts of running a business. High employee turnover can reduce morale, increase training costs, and lead to a less efficient workplace. . So, in this article, we’re going to outline how you can keep your employee turnover low. Let’s get started.

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Q&A: What’s Visier NOW & How It Solves Urgent Issues Like Turnover & Achieving Diversity Goals

Visier

The need for quick access to answers to help business leaders face these challenges ASAP is immense, and here are just two reasons why: Turnover is ridiculously expensive: According to Gallup’s 2021 State of the Global Workplace Report , replacing workers requires one-half to two times an employee’s annual salary.

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High-impact retention strategies for a high turnover world

Bob

But amid “ The Great Resignation ”—which has brought the highest levels of turnover seen in the past 20 years—companies need to understand what is driving the job change trend and what they can do to keep people around. Investing in your people’s career development and learning is another way to keep them engaged and happy in their roles.