What Is Employee Turnover and Employee Retention?

Bonusly

When we talk about employee turnover, we mean the number of employees who leave an organization over a specified timeframe, typically one year. On the other hand, employee retention is number of employees an organization keeps during a given period. Who is responsible for turnover?

New Hire Onboarding: Take a Pulse to Increase Employee Retention

HR Bartender

With unemployment levels at historic lows, it’s no wonder that employee retention is a priority. A key factor in employee retention is onboarding. You could also use a metric like turnover. The rationale being that better onboarding should result in lower turnover.

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How To Reduce Employee Turnover with Workforce Analytics

Visier

With voluntary resignations at an all-time high and unemployment rates historically low, employee retention is a key objective for most HR organizations, and employee turnover is the single most prevalent HR metric. Why should HR make employee retention a priority?

How To Reduce Employee Turnover with Workforce Analytics

Visier

With voluntary resignations at an all-time high and unemployment rates historically low, employee retention is a key objective for most HR organizations, and employee turnover is the single most prevalent HR metric. Why should HR make employee retention a priority?

Introduction to Recruiting Metrics FAQ

Workable

Recruitment metrics help you gauge the effectiveness of your recruitment process. Here are frequently asked questions and answers about recruiting metrics to help you understand recruiting data and use it to boost your hiring: Intro to Recruiting Metrics. More Recruiting Metrics.

The Internal Mobility Metrics You Should Be Tracking (HR Zone)

Paddle HR

Without the right KPIs, there’s no way that senior leaders can understand whether their internal mobility efforts are having the desired impact on employee development or retention. Of course, this single metric alone doesn’t tell the full story of high performing internal mobility practices.

4 Strategic Ways to Keep Remote Employees Engaged

HSD Metrics

The problem for American businesses is that employee engagement is closely aligned with other metrics— those with the potential to do serious harm to business viability. Businesses that offer flexible work options (like remote work) reduce turnover by more than 25%.

The True Cost of Turnover for Human Service Organizations

DATIS

Unfortunately, this industry is notorious for high turnover rates, with organizations often reaching turnover as high as 40%. While all industries experience turnover and its internal impact on culture and employee morale, there are several factors that make high turnover particularly threatening to the success of the Human Service organizations. Consequently, high turnover results in a significant financial loss. Combating High Turnover.

Without Retention, Diversity Efforts Fall Short

Reflektive

Therefore, many technology companies are directing large sums of money to increase internal diversity metrics and cultivate a broader pipeline of minority candidates. The study found unfair treatment is the single largest factor in turnover across all groups and it is significantly more pronounced in the tech industry than other industries (42 percent of tech-industry leavers versus 32 percent of technical-role leavers in non-tech-industry fields).

What Your Company Can Learn by Tracking Employee Turnover

LaborSoft

HR departments stand to gain a lot by tracking employee turnover. Valuable data can be collected and deeper insights drawn to reveal the potential source of the turnover, whether it be job dissatisfaction or other more personal reasons. This key HR metric can help companies assess and prioritize changes or adjustments to their culture or practices in order to decrease attrition and ensure retention of employees in the future. Turn Over Your Turnover Findings.

Why Tenure Metrics Matter: The Value Of A Stable Workforce 

SuccessFactors

Employee tenure is one of the oldest human capital metrics. But research indicates tenure is a valuable metric of workforce stability that can help companies maintain steady performance in a world of accelerating change. But tenure is not a trivial metric to be ignored.

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. References. 2014 National Healthcare and RN Retention Report.

Maintaining Employee Morale through Company Leadership Changes

HSD Metrics

In order to maintain success and stability through the transition, efforts must be made towards employee retention. When a group is fairly tight-knit, as the beginning quote references, any change is going to feel as though the balance has been thrown.

Verbal Abuse in the Workplace

HSD Metrics

Because of this damage and the costs of employee turnover and low morale, HR managers must take workplace bullying seriously. Reference the employee handbook. HSD Metrics can help companies identify and remove cases of bullying with our ExitRight interview.

Verbal Abuse in the Workplace

HSD Metrics

Because of this damage and the costs of employee turnover and low morale, HR managers must take workplace bullying seriously. Reference the employee handbook. HSD Metrics can help companies identify and remove cases of bullying with our ExitRight interview.

7 Reasons Your Employee Retention Efforts Are Failing, and What You Can Do About It

Linkedin Talent Blog

The Department of Labor reports that employee turnover is now at its highest level since 2008. However, it’s a fact that most corporations spend more time on product inventory turnover than they do on employee turnover, even though employee turnover often has a much higher impact.

Using Compensation Planning to Improve Engagement & Retention

HRsoft

How Can Compensation Planning Help Improve Engagement & Retention? Disengaged employees are less motivated, less productive and over time, are more likely to leave the company for better opportunities elsewhere, thus creating high turnover rates. In response to that, about 63% of the companies have referenced retention as top focus of compensation and more than half of the companies that were surveyed use some form of pay-for-performance strategy. Reward for Retention.

Planning your recruitment budget for 2020: expert advice from a finance VP

Workable

contacting references. Plus, if you onboard poorly, turnover increases, and you’re back to square one. Also crucial: Turnover rate. Craig will consult with HR and find out what the company’s turnover rate is – here’s a tutorial on how you can calculate that yourself.

How HR and Finance Can Increase Employee Retention

Namely

Workplace culture and engagement initiatives have become increasingly important to employee retention. At HR Redefined, Lisa shared four tips for leveraging this relationship to strengthen employee retention. As you introduce new initiatives, you can refer back to this baseline and track your progress. Employees will want to stay with your company long-term to reap these benefits—a big boost to retention and a way to avoid the hiring costs associated with backfills.

A New HR Talent Management Model

Digital HR Tech

Retention : How do you retain those buying customers so they come back and buy again? In the recruitment world, this is referred to as employer branding. Employees who are referred usually onboard faster, perform better and are less likely to leave prematurely. Retention : Just like you want to retain your customers, you want to retain your employees. Topics include retention, happiness, and compensation and benefits. .

A Comprehensive Guide to Building a Talent Management Process

Digital HR Tech

Retention. Talent management refers to the process of managing employees. Lower turnover. Other instruments include IQ tests, work tests, personality assessments, and reference checks. Retention. Retention is a hot issue in a lot of organizations all over the world.

What is HR Data Analytics & How Do We Leverage It?

Ultimate Software

HR analytics may be referred to as people analytics, workforce analytics, or talent analytics depending on the context of the data. From Data Reporting to Prediction: A Retention Case Study. Consider the actionable insights gleaned from the following three retention metrics.

The Business Case for Human Resources

Everwise

Here are three example areas of focus which illustrate what can be gained when HR tools and strategies are used to their best effect: Turnover: A known issue for organizations, turnover deserves a high level of attention by HR professionals and leadership alike.

Measuring Employee Engagement the Right Way

Digital HR Tech

Measuring employee engagement metrics. However, there are limited possibilities for slide-and-dice reporting and engagement data is not integrated with other key data such as employee turnover or financial data. Measuring employee engagement metrics. 33) and employee turnover (.30),

How Employee Referral Programs Can Improve Time, Cost and Quality of Hire?

TalentLyft

Many HR professionals keep saying thatEmployeeReferral Programs areyour best bet for improving the most important hiring metrics such as time to hire, cost per hire, employee retention and turnover rate and quality of hire.

eNPS Score Is the Core of Data-Driven HR

Reflektive

More and more, insights based on data are becoming essential to human resources, particularly when it comes employee retention and engagement. But what if companies used similar metrics to evaluate employee engagement as they do for customer loyalty? Data drives business.

Data 141

Fact or hype: Do predictive workforce analytics actually work?

Visier

So, how can you ensure a vendor’s claim to predict employee retention risks is valid? As a result, retention is a key objective for most HR organizations — understandably. In an attempt to quantify the impact of attrition, many have tried to connect turnover to business impact.

Compensation Wins Talent, Recognition Retains It

Achievers

Well, after three months of conversations, a drug test, two reference calls, and four interviews, Evan finally got the call … they’re offering him the job! . However, arguably the biggest benefit of recognition is the impact it has on retention.

An In-Depth Look at HR’s Role in Employee Engagement

KeenAlignment

The human resources department, colloquially referred to as HR, should be at the center of a company’s efforts to improve employee engagement. Human resources professionals can help decrease employee turnover by baking learning and development opportunities into company culture.

The Better Way to Handle Headcount Reduction

Visier

The data proved true—natural turnover brought them to their target only one month over the Finance department’s goal. Keep in mind that turnover contagion can occur as a result of layoffs.

Colleges and Universities Turn to SkillSurvey to Improve Hiring

SkillSurvey

Detailed reference feedback provided for more than 42,000 candidates for positions such as faculty, advisors, deans, IT, and staff roles. In the past two years, more than 42,235 job candidates were reference checked through SkillSurvey’s Pre-Hire 360 ® providing institutions with detailed feedback from an average of 4 references per candidate. She will be discussing the benefits of HR metrics and automation as they relate to Higher Education.

27 Actionable Insights & Resources for Employee Lifecycle Management

EmployeeConnect

Retention. To help you in your mission, we have decided to explore the five main steps of the employee lifecycle and develop a reference list of expert tips, best practices, ideas, case studies and more that you can refer to along the way. Retention.

New High-Performance Benefits: Concierge and Errand Running

ACI Specialty Benefits

9% average annualized utilization, and reported employee turnover decreased from 16% to 10%, Great Place to Work employee satisfaction ratings increased from 74% to 86%, and employees saved 1,359 hours in one year from concierge referrals and support, dramatically improving employee productivity.

SurvaleTM Announces Record Growth, New Capabilities and Awards for 2018

Survale HR

New features such as Reference Checking , Text/SMS feedback collection, Shared Insights hiring manager self-monitoring feedback views, internal peer benchmarking, new reports and more.

27 Actionable Insights & Resources for Employee Lifecycle Management

EmployeeConnect

Retention. To help you in your mission, we have decided to explore the five main steps of the employee lifecycle and develop a reference list of expert tips, best practices, ideas, case studies and more that you can refer to along the way. Retention.

The Art of the Employee Referral: a complete guide with tips and examples

Workable

In most cases, referred candidates don’t follow the traditional application process; instead of responding to an interesting job ad, someone they know who’s also connected to the company will submit their resume on their behalf. Asking your colleagues to refer candidates is the first step.

An Interview with Jen Vasin of Insight Enterprises

GetFive

“We refer to our employees as teammates because we believe the team mentality reflects our core values of hunger, heart, and harmony.” One metric Vasin uses is Fortune’s annual “Great Places to Work” list, which includes a trust index.