2017 saw job satisfaction among U.S. employees fall. However, the American workforce might be out of its funk! According to new research, there is strong evidence that both workers and their employers have renewed feelings of workplace optimism and satisfaction. What’s driving these renewed feelings is also the key to attracting top talent: robust benefits.
Tag: Employee Retention
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 […]
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.
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 […]
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.
The U.S. unemployment rate continues to edge down after months of impressive job growth, and nearly 90% of companies are either actively hiring or in retention mode. However, job cuts remain a reality for many American businesses. Industries currently leading the United States in the greatest number of job cuts for 2018 include retail (76K), […]
In a previous post, we discussed the high cost of turnover and recruitment and the need for businesses to make sound and lasting hiring decisions when possible to keep these costs to a minimum.
Seasonal hiring has gotten even more challenging in recent years, as unemployment rates hover around historic lows and the number of jobs that have been added has increased. In certain markets and for high-demand skill sets, the unemployment rate is even lower—often less than 2%.
As we’ve previously reported, counteroffers to retain workers can backfire, leading the employee to leave your company within 2 years of receiving a raise. If you’re having trouble recruiting new workers to your company, try improving your talent retention strategy to keep your workers from jumping ship.
Yes, you read that title correctly: 80% of workers are actively seeking a new job, which is good news for recruiters and hiring managers looking to fill vacant positions, but terrible news for employers who are looking to retain their best and brightest workers.