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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.

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Employees Want Better Benefits, Study Shows They're Willing to Leave Current Job for Better Retirement Options

Guideline

One of the top reasons small business employees leave jobs is to get access to better benefits and retirement options, according to a new study by Zenefits. Since they began studying the topic in the 1900s, analysts have identified countless reasons for employee turnover. How can you use this to improve your retention?

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Everything You Need to Know About Workforce Optimization

Zenefits

You also need them to be productive. Though employees should be accountable for their performance, you need to assist them on their path to productivity. Productivity. The focus is on managing and maximizing staff performance so you can foster a productive workforce that meets business demands. Performance.

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5 Challenges Human Resources Is Facing in 2022 — and How to Overcome Them

Zenefits

Staff retention. Employee turnover has risen dramatically over the last 2 years, primarily driven by: Pandemic-fueled changes in workplace expectations. According to HireVue , 55% of employers have reported higher turnover in 2022 than in 2021. Staff turnover is problematic in several significant ways. Automate payroll.

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How to Create an Employee Retention Program

Zenefits

Turnover creates an even bigger issue when many people start leaving. If your people are leaving at a higher rate than usual, what you likely need is an employee retention program. Below we outline the steps on how to create an employee retention program, and why you need one. Employee turnover is a (very) costly problem.

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Cultural Competence in the Workplace: What Employees Need to Know

Zenefits

Studies have shown diverse workforces tend to be more productive and innovative , leading to higher profitability and stronger competitive advantages. Diverse team members are more likely to offer outside-the-box thinking, resulting in new ideas to propel products and services to new heights. Decreased productivity.

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Essential Tools for Modern HR Departments: Boost Efficiency and Streamline Processes

Hppy

It allows organizations to automate and streamline a range of HR processes, from employee management to payroll and benefits administration. Payroll Management – HR software can automate employee payroll management such as calculating employee salaries, taxes, and benefits deduction.