article thumbnail

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.

article thumbnail

How to Retain Call Center Employees & Reduce Turnover

Empuls

However, amid all this unpredictability, there’s one trend that managers have come to recognize – the high turnover rate. According to Quality Assurance and Training Connection , call centers, on average, see an annual turnover rate ranging from 30% to 45%. High attrition rates have long plagued the call center industry.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Top 4 Ways to Increase Your Employee Retention Rate

Professional Alternatives

Employee retention simply refers to how many employees actually stay under your employment. If you employ a hundred people and five of them leave, this means that your turnover rate is 5% which is 5/100 while your retention rate is 95% which is 95/100. Different Ways to Enhance Employee Retention Rate. .

article thumbnail

Attrition vs. Turnover: Understanding the Differences

15Five

If you’re at the coffee bar throwing back espresso shots this morning because you were up all night worrying about turnover at your company, you’re not alone. 15Five’s latest research shows that more than 80% of business leaders believe a decrease in employee retention presents a risk to company success. What is turnover?

article thumbnail

Is the Great Resignation really over? Getting to the root of retention problems

HRExecutive

While the movement has been losing some steam over the past year, the cost of employee turnover is still extremely high, as the cost of replacing an employee ranges anywhere from one-half to two times their yearly salary. Mitigating the costs of employee turnover for frontline workers isn’t just an HR issue.

article thumbnail

The 5 Primary Costs of Employee Turnover and How to Manage Them

Zenefits

Employee turnover is typical for most businesses. A high turnover rate deals damage from multiple angles, from the expense of recruiting and training new hires to the loss of institutional knowledge and a tarnished reputation. businesses lose an astounding $1 trillion annually due to voluntary turnover. Training and onboarding.

article thumbnail

Employee Recognition Event: Tips and Recognition Calendar

Vantage Circle

Employee recognition events go beyond mere celebrations; they are pivotal drivers of engagement, morale, and success. Thus, creating impactful recognition events requires thorough planning and exploration. Recognition events are categorized into two categories: informal and formal. How do you wish to celebrate this event?