Articles tagged 'retention'

HR Management, Talent Management

15 More Good Reasons Why You Really Might Want Employee Turnover

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Second of two parts

Yesterday, I listed 10 reasons why turnover might actually be a good thing and why you might not necessarily want to keep long tenured employees.

As I pointed out, you need to step back and think about it: Should all employees be kept or just the ones who currently and in the future produce high value?

In particular, should the employees with the most tenure be automatically kept, even though they may be expensive, and in some cases, they may be one of the primary roadblocks to corporate change? Read more…

HR Management, Talent Management

Why Some Employee Turnover May Actually Be a Good Thing

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First of two parts

As turnover rates for employees continue to increase, there seems to be an almost universal agreement among HR and managers that “we must do something” to retain our employees.

But take a step back and think about it: Should all employees be kept or just the ones who currently and in the future produce high value?

In particular, should the employees with the most tenure be automatically kept, even though they may be expensive, and in some cases, they may be one of the primary roadblocks to corporate change?

In fact the goal is to identify the top potential issues that can be attributed to long-tenured employees. Read more…

Benefits

Why Offering Great Benefits Makes Perfect Sense

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Employees are arguably one of the most important assets to a business. The performance of employees affects a business’ bottom line.

Employee benefits are an incentive for most employees to accept a position and work with a level of dedication that will benefit all. A generous benefits package also give the employee a sense of good will passed on from employer to employee and gives them a sense of belonging at a particular company.

Offering generous employee benefits such as tuition reimbursement, telecommuting, paid vacations, sick time, profit sharing, etc. will increase the overall happiness of employees and happy employees are productive employees! Read more…

Recruiting and Staffing, Talent Management

How Commute Issues Can Dramatically Impact Employee Retention

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As more companies adapt a data-supported approach to HR decision-making, new data is revealing that commute issues can have a major impact on hiring success and retention.

You may have assumed that commute issues were an obscure factor with only a minor impact — but you would be wrong.

You probably already know that long commute times frequently increase new-hire tardiness and absenteeism rates, but data now reveals that long commute times can have a major negative impact on new hire retention. Read more…

Recruiting and Staffing, Talent Management

The Millennial Turnover Myth: Why Young Talent Really Decides to Leave

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My company is obsessed with Millennials, and for good reason.

The traditional old guard of global industry is rapidly changing – and the youngest ranges of the workforce are primarily responsible for the disruption.

With the average lifespan of an S&P 500 company down to 15 years, we are all actively investing resources to attract a new generation of talent that will keep our companies viable. Read more…

HR Basics, HR Management

HR Basics: 5 Things You Should Be Doing to Retain Your Best Employees

retention

Regardless of industry or company size, high employee turnover is bad for business.

Not only does it lower employee morale and decrease productivity, it’s also costly.

Finding and training replacements is significantly more expensive than retaining your initial hires, so consider the following tactics to improve your employee retention. Read more…

Recruiting and Staffing, Rewards & Recognition

Employee Retention: It’s Really a Workplace “Stickiness” Problem

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“People just don’t stick around like they used to.”

How often have you heard that phrase in terms of employee retention goals, usually coupled with statements about “there’s just no loyalty anymore.”

History shows that’s just not true. For the last 25 years, tenure has been consistently low across nearly all age ranges. And the youngest generation in the workplace tends to stay the shortest amount of time (which is not surprising considering where they are in their careers).

More recent data published in The Wall Street Journal shows average tenure across occupations doesn’t even reach five (5) years. Read more…

Talent Management

Here’s the Single Most Important Thing You Need to Drive Retention

retention

From awards to perks, managers can run themselves into the ground seeking ways to keep employees happy so they won’t wander off to another company.

But what if the answer wasn’t in the perks, or the money, or even a fancy new break room complete with a Keurig?

It’s true; coffee and snacks will not inspire your employees to stay put — BambooHR’s survey confirms it. Less than 1 percent of respondents selected “free food and perks” as something that would have “helped them stay” at a job they quit after only working there for six months. Read more…

Leadership, Talent Management

What Are You Doing to Keep the Best of the Best?

best of the best

The movie Whiplash — the story of a young talented drummer and his demanding and ruthless teacher — is garnering a lot of attention (it’s been nominated for five Oscars) and it’s also kickstarting a lot of discussion.

What is the role of a teacher or coach? To what lengths should we go to elicit the best from someone? How do we motivate and not break people on the way to helping them reach their pinnacle?

These questions are relevant on school campuses, playing fields and the workplace. While I believe that everyone needs to get voted on the team and bring their A-game every day, I don’t believe the antiquated type of coaching works.

The world needs more talent than we have. Yes, we have a talent crisis. Read more…

Benefits, HR News & Trends

Weekly Wrap: There’s Power in Perks, But Not All Companies Get That

Perks

As someone who worked in the San Francisco Bay Area during the dotcom boom, take it from me — employees LOVE perks.

Silicon Valley figured out a long time ago that all the things companies do for employees above and beyond a paycheck can be both a great lure for new talent, but also a great way to retain those you already have in the fold.

Of course, most companies in America don’t offer the kind of perks that Silicon Valley tech firms do, but as some recent research found, that doesn’t mean that those additional benefits above what you pay people aren’t a great tool for attracting (and keeping) top talent. Read more…