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? One Catalyst estimate states that turnover-related costs amount to 12 percent of pre-tax income for a typical company; and these figures don’t begin to describe the internal stress created when someone quits, or the hit your brand can take if a disgruntled departing worker shares their displeasure on social media.

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. 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. I’ve seen articles estimating the cost to onboard an employee as low as $100. Thus, improving retention.

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5 Ways HR Software Can Help Reduce Your Turnover Rates

Get Hppy

Employee turnover rates are a huge issue for businesses today. But while most organizations understand that keeping your employees is an integral part of success, figuring out how to reduce turnover rates is another story. How Can HR Software Help to Reduce Turnover Rates? Here are just a few ways how HR software can help reduce turnover rates and improve employee retention by making HR processes run smoothly and efficiently. Streamlined Onboarding.

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. Lack of purpose Turnover can be infectious.

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

Achievers - Recruiting

Employee Retention. Onboarding and Hiring. Employee Retention. Onboarding and Hiring. Employee Retention. I bring this projection to light as a way to jump-start your leadership team into discussions about the importance of understanding today’s new workforce and making retention efforts a priority. Cara Silletto , employees , flight risk , golden handcuffs , leadership , managers , retention , turnover , workers , workforce.

A Few Thoughts on Pre-Hire Predictive Analytics

Something Different

assessing how likely each applicant for any given position is to be a flight risk by looking at its current employee population and historical turnover data. For specifics around what data the predictive model needs to work you can request the white paper here , but I’m sharing because I thought it was an interesting approach to using predictive analytics to improve talent outcomes.

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.

Invest in Your Bottom Line: Financial Wellness in the Workplace

DailyPay

According to an IonTuition white paper : More than 90% of managers said that student loan debt creates stress for employees. 70% believe that offering such a program would improve employee retention and morale. However, this benefit doesn’t accommodate every financial situation, and an opt-out should be offered at time of onboarding and at any point of employment. Why are we talking about financial literacy?

Why HR Data is the Key to Strategic Business Decisions

Visier - Talent Acquisition

Only then can HR make data-driven business decisions and develop a workforce plan that optimizes talent investments while effectively monitoring recruiting, development, engagement, productivity, accountability, retention and many other workplace initiatives. Churn/Retention.

Data 83

The Impact Of Machine Learning In HR

Get Hppy

Reducing staff-turnover. Whether it is enhancing onboarding, scheduling interviews and follow-ups, performance reviews, training, testing and handling the more common and repetitive HR queries, machine learning can take most of this tedious work away from the HR staff. More importantly, by understanding the data around staff turnover, they will be in a better position to take corrective action and make the necessary changes to minimize the problem.

People Analytics Success Benefits from an Employee Value Proposition

Analytics in HR

Their data is collected, explored, and presented to discover underlying patterns and trends in support of lowering turnover, improving diversity and inclusion, cutting absenteeism and more. It turned into a full-blown research paper as we brainstormed and researched all the ways that analytics can be put to use to serve employees. In our white paper, we provide details around the use of people analytics and the value proposition in each area.

Digital Transformation: How Technology Improves the Employee Experience

Achievers - Recruiting

In fact, the vast majority (92 percent) of C-suite and HR leaders … say that they believe technology enhances the attraction, engagement, and retention of employees. Onboarding new hires. Digital transformation is all about using technology to improve our daily lives.

Why HR Data is the Key to Strategic Business Decisions

Visier - Talent Acquisition

Only then can HR make data-driven business decisions and develop a workforce plan that optimizes talent investments while effectively monitoring recruiting, development, engagement, productivity, accountability, retention and many other workplace initiatives. Churn/Retention.

Data 67

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. This negative workplace atmosphere can lower employee morale, reduce job satisfaction , and increase turnover rates. This can turn into a very costly mistake for your business by increasing turnover rates, lowering workplace morale , and decreasing overall productivity. .

Top 3 KPIs to Measure your Performance Management System ROI

Impraise

Learn how to calculate the cost of employee turnover, engagement and productivity and use these KPIs to measure ROI of your new performance management system. High turnover and low engagement and productivity are the end result of deeper issues impacting your organization. To get the executive team onboard with the changes you want to make, it's essential to set both long (which this article will discuss) and short term goals which can be linked to business objectives.

My Employees Are All Millennials - Here’s How I Manage and Retain Them

Linkedin Talent Blog

If you can’t, you’ve got turnovers sizzling in the oven. You could easily AND make it part of your onboarding and recognition process. Companies commission white papers, studies, reports and surveys to learn what millennials could have told them during the interview. Have newer hires build portions of your onboarding schedule. Hiring Managers Employee RetentionI travel and speak at a lot of conferences. Perhaps you’d like my autograph?

Beyond Employee Engagement: 6 Tips to Improve the Employee Experience

Achievers

Similarly, EX, or employee experience, is the sum total of the interactions employees have with their organization – from recruitment, to onboarding and beyond. Through the right rewards and recognition program, tied to real business goals, companies are able to see a direct impact on revenue, retention and customer satisfaction. Based on a recent Gallup poll , an estimated $11 Billion is lost annually due to employee turnover and 71% of the workforce around the world is disengaged.

Today's top 3 Management Challenges

Impraise

This means companies want: Less micromanaging and more autonomy Faster development of new skills Higher employee retention Today’s highly-skilled employees are not easily replaceable. Turnover can cost a company up to 400% of an employee’s annual salary. In fact, it costs more to onboard new employees than to train your existing workforce. As a result, companies are now paying much more attention to managers’ employee turnover and satisfaction rates.