Homebase
JUNE 22, 2023
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? What is employee retention?
Bonusly
JUNE 13, 2018
Do you know how many employees you lose each year to turnover? Although most companies keep track of employee turnover, many fall short when they try to understand its causes and costs in a meaningful way. Do you know how much employee turnover costs you each year? Why is employee turnover expensive?
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Analytics in HR
JANUARY 4, 2024
Turnover and attrition are two basic HR metrics that companies should monitor on a regular basis. The data helps HR and management understand how long employees typically stay with an organization, and provides insight into what may or may not drive retention. Contents What is turnover? What is attrition?
Sterling Check
APRIL 13, 2022
The January Job Openings and Labor Turnover Report notes that new job openings have surpassed last year’s by 897,000. As a talent executive writes on hospitalitynet , “To top it all, hospitality employees are recognized as having strong customer service orientation and training, resulting in their poaching by other industries.”
Terryberry
APRIL 9, 2024
Employee retention is a hot topic in the world of human resources. It's no secret that employee turnover can be costly for businesses - both in terms of money and lost productivity. Each lost employee equates to a cost of 1.5 Without engagement, retention becomes even more of a challenge.
Bonusly
DECEMBER 5, 2019
To solve employee turnover, we look at employee retention best practices and organization-specific strategies. Current best practice is to improve the employee experience in order to increase employee engagement and retention—and all the other great things that come with them, like improved business performance.
HR Stacks Blog
APRIL 20, 2024
In this article, this is precisely what we are discussing as we dig deeper into the best strategies for employee retention that a company can adopt. After all, it is safe to infer that there is a direct link between employee retention and the success of an organization. Employee Appreciation Programs 06.
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