How to Protect Your Company from High Employee Turnover

Achievers

Every manager and HR professional views employee turnover as a headache, but do you actually know how expensive and damaging it can be to your organization? Current statistics from Catalyst show that it costs an average of one-fifth of an employee’s salary to replace that person, which means that for a position paying $50,000 a year, your replacement costs will generally run over $10,000. Help your employees reach toward the future.

New Hire Onboarding: Take a Pulse to Increase Employee Retention

HR Bartender

Their services include employee experience surveys. With unemployment levels at historic lows, it’s no wonder that employee retention is a priority. A key factor in employee retention is onboarding. According to a Korn Ferry survey, 98 percent of respondents said onboarding programs are key to keeping employees. And frankly, onboarding programs are reasonable in terms of cost per employee. HR Onboard says the cost to onboard a new employee is $400.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Why Employee Recognition Matters

Achievers

Do your employees feel recognized? Think carefully, because over 65 percent of employees report they don’t feel recognized at work. And lack of recognition just happens to be the number one reason why employees quit. Employee recognition drives employee engagement, and with higher employee engagement come lower turnover rates and stronger business results. greater than their competitors with the lowest level of engagement.

5 Things Your CEO Needs to Know About Employee Engagement 

Achievers - Recruiting

If you’re a CEO, do you treat employee engagement as solely the domain of the Human Resources (HR) department? And if you’re an HR professional, do you find yourself trying to persuade your CEO that employee engagement should also be a C-suite concern?

American Workers in Crisis

Payactiv

Our low- to medium-income workers are suffering paycheck to paycheck—which in turn impacts our businesses with higher worker turnover, lack of on-the-job focus, and a host of related performance drains. White Papers

How to Address High Turnover With Retail Employees

Achievers - Recruiting

Here’s a not-so-fun fact: Retail employees leave their positions at a rate that’s over four times higher than the average turnover rate in all other industries. When you add it all up, retail employee turnover is incredibly expensive. .

Correlating HR Consumerization and Minimizing Turnover

Get Hppy

In the modern workplace, we are seeing the lines blur between human resources, marketing, and customer service to create a workplace culture and develop experiences designed to delight and woo candidates and retain employees. Employee Engagement and Retention. Aside from placating candidates, employee retention and engagement are some of the most important issues in HR. 3 Simple Tips to Increase Engagement and Prevent Burnout.

The Millennial Turnover Problem in the Financial Services Industry

Get Hppy

The phrase “churn and burn” is commonly used to describe an industry’s high turnover rate. percent turnover rate , which is one of the highest among all industries. While many factors that play a role into this large turnover rate, looking deeper into the data isolates one glaring disruptor – millennials. Low Engagement. Gallup found that an astoundingly low 29% of millennials are engaged at work. Increase Engagement. Employee turnover

Keeping Millennial Workers: How to Improve Employee Retention

Get Hppy

The constant turnover of millennial workers is both tiring and expensive for company hiring managers. A new employee can cost a business around 1.25 This is due to the cost of the base salary plus recruiting costs, taxes, employee benefits and the physical equipment required for each new employee. To entice and obtain the Millennials’ gifts, an increasing number of corporations are redesigning criteria intended to keep millennial employees.

Employee Engagement in Healthcare: 5 Facts You Need to Know

Bonfyre

Increasingly, healthcare employees are being asked to do more with less. All the while doctors, nurses, technicians, and all other manner of healthcare employee are expected to deliver quality care experiences that keep patient satisfaction scores high. These factors compound to take a significant toll on employees in the industry. Amidst this turbulence, employee engagement in healthcare has emerged as a key strategic tool for righting the ship. turnover.

4 Steps: How to Build an Engagement-Driven Office Culture

Achievers

The importance of employee recognition and engagement cannot be overstated. Companies everywhere are shelling out billions every year for HR programs designed to enhance their office culture and improve employee productivity. Yet, according to Gallup’s 15-year study , the percentage of American workers that are “actively engaged” at the workplace remains fairly stagnant, with an average of just around 32%. All employees were then able to vote for a final decision.

How to Improve Employee Retention and Company Performance with Career Pathing

TalentGuard

How to Improve Employee Retention and Company Performance with Career Pathing. employee stays at one job. Younger employees hop more often , however, with most leaving a mere two years after hire. This reality likely created much of the disengagement seen today, especially for employees who can’t see a way to transition from their current position to one that motivates and inspires them. What happens when employees aren’t motivated?

Recruit Better: Employee Discount Programs and Taxes

HR Bartender

Today’s reader question deals with that: I am trying to find out if employee discount programs that companies sign up for (to offer their employees discounts) have tax consequences for the employee and/or company when the discounts are redeemed. Jones] Employee benefits are typically any additional non-wage compensation provided to the employee beyond their typical salary or hourly wage. Why would an organization offer employees a discount program?

Who’s the Real Flight Risk? Why Employees Leave (And Stay)

Achievers

Here are a few reasons why some staff stick around, even when they are unhappy in their current role or situation: True loyalty Some employees feel a sense of obligation to the owners, business, clients, or even a single manager who gave them the job and have invested in their career over time. Golden handcuffs When employees build up a cushion of paid time off (PTO) and are given several more weeks each year, it’s very difficult to start over elsewhere.

How to Improve Employee Retention and Company Performance with Career Pathing

TalentGuard

How to Improve Employee Retention and Company Performance with Career Pathing. That’s the approximate length of time the average employee stays at one job. Younger employees hop more often , however, with most leaving a mere two years after hire. This reality likely created much of the disengagement seen today, especially for employees who can’t see a way to transition from their current position to one that motivates and inspires them.

Beyond Employee Engagement: 6 Tips to Improve the Employee Experience

Achievers

“There are only three measurements that tell you nearly everything you need to know about your organization’s overall performance: employee engagement, customer satisfaction, and cash flow. It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.” – Jack Welch, former CEO of GE. Engaging employees is no easy feat.

Actionable Tips for Improving the Employee Experience, Turnover & Patient Satisfaction

SMD HR

We recently conducted a study that focused on uncovering the key factors that impact two healthcare metrics – employee turnover and patient satisfaction (HCAHPS). In one instance, the client reduced their Registered Nurse (RN) turnover from 19.8% In another example, the client reduced their turnover rate from 28% to 24% across the organization, resulting in a savings of more than $8 million. By the way, get all the details on the study in our recent white paper.

3 Keys to Employee Productivity & Retention You Haven’t Thought About

EngagementMultiplier

And yet, almost a year into the pandemic, cohesion remains a challenge, and as a result, employee productivity remains a top concern for company leaders. Some recent employee survey data suggests that after months of struggling, something is about to give.

How to Address Early Signs of Employee Disengagement

Achievers

According to the Work Institute’s 2017 Retention Report, 75% of the causes of employee turnover are preventable. That’s excellent news for your HR budget, as the cost of replacing entry-level employees alone hovers near $4,000 per position. A small change in human behavior can be enough to indicate damage in employee motivation. Yet, detecting early signs of employee disengagement is never an easy task.

How high employee turnover hurts your company

Impraise

High employee turnover hurts your bottom line. Lost knowledge, training costs, interviewing costs, and recruitment costs all add up, and companies cannot afford to ignore the long term implications high employee turnover has on the success of the business. Lack of training Employee retention strategies begin right when a new hire steps through the door. But onboarding is only one part of the employee training cake. Employee engagement

How to Improve Employee Retention and Company Performance with Career Pathing

TalentGuard

How to Improve Employee Retention and Company Performance with Career Pathing. That’s the approximate length of time the average employee stays at one job. Younger employees hop more often , however, with most leaving a mere two years after hire. This reality likely created much of the disengagement seen today, especially for employees who can’t see a way to transition from their current position to one that motivates and inspires them.

How to Improve Employee Retention and Company Performance with Career Pathing

TalentGuard

How to Improve Employee Retention and Company Performance with Career Pathing. That’s the approximate length of time the average employee stays at one job. Younger employees hop more often , however, with most leaving a mere two years after hire. This reality likely created much of the disengagement seen today, especially for employees who can’t see a way to transition from their current position to one that motivates and inspires them.

Top Workforce Challenges and Trends Impacting the Healthcare Industry in 2020

Achievers - Recruiting

In order to maintain the high level of patient care that many healthcare organizations aspire to, both employee recruitment and retention must become a priority. From an HR standpoint, increased employee burnout also leads to a spike in turnover rates.

Are You Personalizing the Employee Experience?

Achievers

Lack of Employee Engagement. Unfortunately, many of the same businesses that have found success investing in personalized services for their customers have failed to apply these same principles to their employer-employee relationships – and it shows. According to Gallup, the rate of employee engagement has steadied around 32 percent for more than a decade, despite the fact that employers together are investing more than $720 million a year on employee engagement.

Words of Advice from 7 HR Thought Leaders

Achievers

You can’t prevent attrition if your organization doesn’t attend to employee experience.”. In a recent Forbes article , Biro writes about the urgent need of focusing on the employee experience. And that vision has to focus on what it’s like to be an employee. as much as $600 billion in lost productivity” and that the cost of millennial turnover may be as much as $30 billion. Selection for Fit : Managers should match tasks and employee skills.

5 Biggest Challenges for HR Leadership Teams

Achievers - Recruiting

The cost of worker’s compensation payments, medical expenses, and legal consultation fees are additional, as are indirect costs such as temporary employees, accident investigation, and repairing or replacing any problematic physical infrastructure. On a parallel track is the need to provide support for employees battling mental illnesses such as depression. Improving employee retention. Keeping employees engaged.

Watson Agrees With Me!

China Gorman

“More positive employee experiences are linked to better performance, extra effort at work, and lower turnover intentions.”. My friends at Globoforce and the IBM Smarter Workforce Institute have published a new white paper: The Employee Experience Index. Together, Globoforce and IBM have created the Employee Experience Index that should give all those legacy engagement survey data analyses a run for their money.

Aligning The Employee Experience To The Customer Experience Standard

Get Hppy

Not only is this a logical question every business should come to, but it also points to the strong relationship between customer satisfaction and employee engagement. “At At present you’ve got employee engagement on one side of the fence, and you’ve got customer experience on the other side of the fence. Combining customer-centricity and employee-centricity is a smart strategy for a multitude of reasons. Employees – the customers within.

Who’s the Real Flight Risk? Why Employees Leave (And Stay)

Achievers - Recruiting

Engage Blog. Employee Engagement. Employee Feedback. Employee Retention. Employee Engagement. Employee Feedback. Employee Retention. Employee Retention. Why Employees Leave (And Stay). Why Employees Leave (And Stay). Some employees feel a sense of obligation to the owners, business, clients, or even a single manager who gave them the job and have invested in their career over time.

Digital Transformation: How Technology Improves the Employee Experience

Achievers - Recruiting

While we hear a lot about new technology making the customer experience more streamlined and compelling, it’s also true that the employee experience is being enhanced through new technology. When a new employee arrives, they have a lot to learn. Employee feedback.

How To Harness The Power of Recognition

WeSpire

Recognition and rewards are both important elements of your employee engagement strategy, however most executives use the terms interchangeably, when in-fact, each has its own unique purpose. An example of recognition is as simple as congratulating an employee during a team meeting for completing a difficult project ahead of the projected timeline. Recognizing employees provides them with positive feedback and assurance that they are doing their job well.

Top Do’s and Don’ts for Elevating the Employee Experience

Achievers - Recruiting

High levels of employee engagement are known to boost productivity, improve customer satisfaction , and bolster retention rates. It ’s these very benefits that have spurred companies across the country to invest in enhancing the employee experience. . Despite this investment, only 13 percent of today’s employees report feeling engaged in the workplace. Today, employees want real-time feedback on a continuous basis.

Fixing Stuck: Engaging Employees With Career Pathing

TalentGuard

Fixing Stuck: Engaging Employees With Career Pathing. Lack of engagement is a wide-spread problem according to numerous studies, with anywhere from a fifth to 84% of employees claiming to be actively unhappy at work. The vast majority of these employees are also considering or have considered quitting. Some of our colleagues engaged in hyper-specialized jobs feel stuck,” one such company’s new CEO said in an email outlining a revitalized vision.

Fixing Stuck: Engaging Employees With Career Pathing

TalentGuard

Lack of engagement is a wide-spread problem in the U.S., according to numerous studies, with anywhere from a fifth to 84% of employees claiming to be actively unhappy at work. The vast majority of these employees are also considering or have considered quitting. In fact, according to that same study, the vast majority of employees feel “stuck” in their careers, with less than 25% able to see a clear career path in their current job.

HR Tech Trends to Watch in 2016

HRExecutive

Below are two trends I’ve excerpted from a new White Paper I co-authored entitled “ HR Technology Trends to Watch in 2016.” The paper contains nine such trends that are poised to pick up considerable steam. Personalized Engagement and Retention Plans. Letting a high-potential employee be exposed to different parts of the business might cost almost zero, but, in the end, could be a more effective engagement driver and retention hook than a larger bonus for many.