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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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Maximizing Returns: Why Investing in Training is Crucial for Accounting Team Success

Professional Alternatives

Another significant benefit of investing in training for accounting teams is improved collaboration with other departments, particularly Human Resources (HR). Accounting teams often work closely with HR to manage payroll, employee benefits, and compliance-related matters. Employees want to feel heard and valued.

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Guide to Hiring Employees in Jamaica

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Group Interview: Candidates may also be interviewed in a group setting where they participate in activities or discussions alongside other applicants. This may involve activities such as team-building exercises, social events, and opportunities for new employees to get to know their colleagues.

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Cultural Competence in the Workplace: What Employees Need to Know

Zenefits

Also, diverse cultures have proven effective in evading the detrimental effects of group-think. People with diverse backgrounds and experiences tend to possess different skill sets, which can strengthen a team’s capabilities. Low retention rates. Automate payroll. Automate payroll. Broader ranges of skills.

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Common Payroll Mistakes and How a PEO Can Help Avoid Them

Extensis

Tips for Keeping Your Business Compliant and Productive Quick look: Managing payroll can be complex and time-consuming, involving multiple tasks like calculating wages, withholding taxes, and filing reports. With so many moving parts, it’s no surprise that payroll mistakes happen and can have serious consequences for businesses.

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Your HR budget: 6 line items to prioritize right now

Insperity

In turn, among employees this raises morale, enhances their discretionary effort and prolongs retention, all of which positively impact business success. In a tight labor market, salary increases are simply a savvy move to remain competitive and combat turnover. In this complex landscape, which HR trends do you need to be aware of?

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National Employee Benefits Day 2024: Which Benefits Foster Belonging?

Extensis

And while only some organizations can feasibly provide these accommodations, you should consider doing so to aid hiring and retention efforts. A dispersed staff means business leaders must pay close attention to the various payroll and wage laws, region-specific tax laws, workplace safety legislation, and state-specific leave policies.