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Organizations across the U.S. have tried all kinds of strategies to keep employees engaged and retained. Yet, voluntary turnover is increasing at an alarming rate and costing businesses billions - $536 billion in 2016 alone. This reveals a big gap between the actual reasons employees leave their jobs and the actions that employers are taking to try to retain employees.
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I hear company after company detail the effort and cost invested in hiring and training employees, only to have them leave within the first year on the job. Frequently, an employee will leave in the first few months, before the organization recoups any of the hiring expense or adds any value to the bottom line, making first year turnover a very expensive problem.
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Categories: Retention | Tags: | Comments: (0) | View Count: (232)
Voluntary employee turnover comes with a steep price tag in the US, costing businesses $536 billion in 2016 alone according to the 2017 Retention Report. If you’re experiencing sticker shock, you will wince at findings in that same report, which reveal the reasons most employees cite for leaving are preventable and that those preventable reasons for leaving are on the rise, threatening employers with a growing fee for employee turnover.
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Categories: Exit Interviews, Retention | Tags: | Comments: (0) | View Count: (535)
After softer than expected growth in March 2017, the April Jobs Report shows that new jobs came back with a bang. US employers added 211,000 jobs in April, which has spurred conversation among economists about whether or not the US has reached full employment, or whether or not everyone who wants to work is able to find a job.
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Unlike the First Daughter, most employees aren’t willing or able to shrug off the goal of work-life balance – they leave jobs because of it. According to Work Institute’s 2017 Retention Report, Work-life Balance was the number two reason employees left their jobs in 2016, accounting for about 12% of exiting workers.
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Over the past 45 years, there have been multiple empirical studies to validate how companies can gain the most reliable information from departing employees to best understand why they left their organization. These scientific studies show that two things are necessary to ensure companies obtain the most accurate information from departing employees.
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Categories: Exit Interviews, Retention | Tags: | Comments: (0) | View Count: (360)
The majority of organizations begin with growth and generating profit at the forefront of their goals. They have a service or product that, in their eyes, needs to get to the market as fast as possible while bringing in enough employees to help make sure it happens quickly. If I were to start a company tomorrow, I would likely have the same mindset, except that I have been exposed to numerous studies and real-world examples that demonstrate the importance of a strategic human resources leader an...
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In the 2017 Retention Report, we analyzed data from over 240,000 exit interviews to reveal to the world the “real reasons” employees leave their jobs. As we were mining the data, we stumbled upon a much bigger insight that would change how employers should address retention issues within their organizations.
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Categories: Retention | Tags: | Comments: (0) | View Count: (590)
United Airlines has taken a big hit in the media the last few weeks based on an incident that was likely isolated, but significant. The public cried foul across millions of social media impressions, United Airlines was forced into crisis mode and the airline has yet to fully recover. Amidst the chaos, United Airlines’ embattled CEO said something that most companies should pay attention to and emulate.
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Categories: Engagement, Leadership, Retention | Tags: | Comments: (0) | View Count: (365)
The creation and filling of new jobs creates a potential dilemma for the Human Resources department of each organization. Studies have shown that the telecommunication industry suffers a quit rate of 82% in a four-year span. This means that both AT&T and T-Mobile need to be confident in their hiring process so they can avoid the high costs of replacing an employee.
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Categories: Recruitment, Onboarding, Retention | Tags: | Comments: (0) | View Count: (392)
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