Turnover in the United States is higher than many people think. According to the Bureau of Labor Statistics, the turnover rate across a wide range of industries in the private sector was over 47.4% annually in 2017, and that number has increased steadily from 42.3% in 2013. So, businesses need to be prepared to lose employees […]
Category: Employee Retention
Employee retention includes any efforts or practices designed to keep your employees working for you.
In a previous post, we discussed the challenges that come with employee turnover and that those challenges aren’t limited to top-level executives. At any level, employee turnover means losing someone with institutional knowledge, the potential to sidetrack or at least impede progress on ongoing projects, and forcing employers to spend months onboarding replacements.
Managers can be so busy at work sometimes that it’s almost inconceivable for them to think about anything beyond the present day or even hour. And, while many business leaders wisely set aside time to think about 1-year, 3-year, or 5-year plans, far too few spend time thinking about where their current workforces will be […]
In the 12 months through July, the U.S. economy created 66.7 million hires only to be nearly matched by 64.2 million separations. Federal Reserve Chairman Jerome Powell has noted the high quit rates indicate a near full employment of the U.S. workforce.
A long commute may be a deal breaker for some candidates, as a new survey from Robert Half shows that 23% of respondents have left their current employer due to a lengthy commute. If your company is trying to attract and retain workers who live in rural areas, and have long commutes because of it, […]
More companies are quickly realizing that candidates and employees, alike, are looking for a better work/life balance. One way to do this is by offering flexible schedules and according to one survey, flexible scheduling leads to more productive workers. A win-win for all!
It wasn’t so long ago that older workers feared—and not without cause—losing their jobs to younger competition. The thought was that younger, energetic talent having just acquired the most up-to-date education would force out older colleagues who were making more money due to their seniority but who were likely to be less productive than the […]
The exit interview may be one of the easiest ways to gather the necessary feedback to address those important topics. Still, there are many factors that can influence the effectiveness of an exit interview policy, and for that reason, we’ve provided a list of some basic do’s and don’ts for exit interviews.
A new study finds that keeping skilled sales talent is a struggle for many employers, and when a skilled sales rep leaves the company, it’s even more expensive to replace him or her.
With unemployment low and turnover high, employers are looking for ways to improve employee retention. One thing employers can do is to focus on the employee experience.