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What Causes Low Employee Retention Rates [+ How to Fix!]

6Q

To create an effective and long-lasting team of dedicated workers, you must first understand what causes low employee retention rates. When you keep the employee retention rate high, you save on hiring costs and precious training time. The first step is identifying what causes low retention rates.

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Increase Employee Retention with Learning & Development

Emergenetics International

While it’s unlikely that half of a company’s staff members are going to leave in one year, this statistic might be a wake-up call for leaders and can serve as an important reminder that retention deserves serious attention. Many studies have reinforced the value of people development in relation to turnover. Turnover is expensive.

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How to Support Employee Mental Health with EAPs | ClearCompany

ClearCompany HRM

Professional development and ongoing training. EAP aims to support the mental health of your employees — and that can lead to 25% fewer missed workdays and a 24% increase in productivity. Lost productivity, absenteeism, and employee turnover all result in substantial financial losses. Improves Employee Retention.

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5 Challenges Human Resources Is Facing in 2022 — and How to Overcome Them

Zenefits

Staff retention. Employee turnover has risen dramatically over the last 2 years, primarily driven by: Pandemic-fueled changes in workplace expectations. According to HireVue , 55% of employers have reported higher turnover in 2022 than in 2021. Staff turnover is problematic in several significant ways.

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Employee Retention 101: Everything You Need to Know to Keep Your Best People

Empuls

Employee retention is crucial in this competitive market. Employee retention refers to an organization's ability to keep its valuable employees.   High turnover can also damage your company culture and employer brand.  Did you know how PepsiCo energizes and retains its employees?  

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3 Most Common Challenges With On-Demand Pay—and How to Fix Them

Workday

Keeping in mind the high cost of employee turnover, including recruiting and training plus the loss of institutional knowledge, employers should show they care about employee financial wellbeing by promoting benefit programs that help employees stretch their money further,” said authors from the PwC report. On-Demand Pay Is the Future.

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The Secret to Employee Retention Is Employee Engagement

Workday

That’s why it’s essential for companies to have a strong employee retention strategy. Talent Retention Is Topping Agendas. Now it’s time for businesses to mirror that process and reevaluate their approach to people management and talent retention. What Is Employee Retention? Employee engagement.