In today’s competitive healthcare landscape, your most valuable asset walks through the door every day: your employees. Key personnel and high-potential individuals are the engines driving success and growth, especially in hospitals. Understanding the value of these employees and implementing strategies to retain them ensures long-term success. Explore the importance of key personnel and high… Continue reading The Role of Current Employees in Distinguishing Your Company
Tag: employee retention
Real Insights About Keeping Employees Happy and Productive
Happy employees create a positive workspace and a productive team. While it may not be your job to help with personal problems or life away from work, showing an interest in helping improve your employees’ lives and keeping a positive work-life balance will go a long way. At Work Institute, we recognize that employee happiness… Continue reading Real Insights About Keeping Employees Happy and Productive
The Service-Profit Chain Theory
Updated: February 29, 2024 What is the Service Profit Chain Model? The Service-Profit Chain is a theory and business model evolved by a group of researchers from Harvard University. In their book The Service Profit Chain – How Leading Companies Link Profit and Growth To Loyalty, Satisfaction and Value they prove the direct link between superior service… Continue reading The Service-Profit Chain Theory
The Importance & Definition of the Voice of the Employee
Updated: February 29, 2024 Voice of the employee has become increasingly important to leaders of organizations, leading the Society for Industrial and Organizational Psychology to list capturing the employee voice as the number seven workplace trend. As the emphasis escalates, many human resources leaders may be asking what is the definition of voice of employee and… Continue reading The Importance & Definition of the Voice of the Employee
Employee Retention: The Actual Cost of Losing an Employee
What is Employee Retention? What gets measured gets managed. With the estimated costs of employee turnover ranging from 33% up to 200% of the departing employee’s salary, it is imperative for organizations to understand exactly what goes into the overall cost of employee turnover. There are multiple layers in beginning to calculate the exact costs… Continue reading Employee Retention: The Actual Cost of Losing an Employee
Voluntary Turnover Rising Post-COVID
The latest voluntary quit (turnover) rate shows nearly twice the amount of employees quit their jobs in July 2020 than those who quit in April 2020. Even during a global pandemic, a historic recession (hopefully on a short one), high unemployment, and general fear and restlessness, U.S. workers still control the job market. Yes, that… Continue reading Voluntary Turnover Rising Post-COVID
What Is a Stay Interview? Definition and How It Works
Employees stay at organizations for different reasons than they leave, and nearly every organization is unique in the reasons employees stay.1 Therefore, Stay Interviews are common tools used in building effective employee retention strategies1. We have defined and detailed the many elements of conducting effective Stay Interviews in the Essential Guide to Conducting Stay Interviews,… Continue reading What Is a Stay Interview? Definition and How It Works
How To Fix & Rebuild Your Human Resources Department, Not Defund It
There is considerable talk these days that HR does not deliver the value of its capability. Additional arguments include moving HR functions into Legal, Finance, and both internal and external Marketing/Communications. Should HR functions be reassigned or defunded? Can HR deliver the value it is designed to provide? The real question is whether HR has… Continue reading How To Fix & Rebuild Your Human Resources Department, Not Defund It
Why Employees Quit During COVID-19
We recently hosted a webinar titled “Voice of the Employee Trends During the Pandemic.” The below quotes are based on Work Institute interviews with employees who quit their jobs based on how their organization managed the coronavirus pandemic. Employees continuously demonstrate three primary categories of reasons why people intend to quit or quit during this… Continue reading Why Employees Quit During COVID-19
Valentine’s Day: The Importance of Relationship Feedback
Valentine’s Day is here and just like any other year; it is time to check in with my significant other for our year-in-review survey. Every year on Valentine’s Day we set aside time to provide feedback to each other on our relationship. It’s a tradition we practice once a year to tell each other what’s… Continue reading Valentine’s Day: The Importance of Relationship Feedback
Engagement Studies Should Help Reduce Turnover and Increase Retention. Have Yours?
Twenty years ago, I was invited to deliver the keynote address at a recruitment and retention conference in Las Vegas. I spoke with the event organizers to fully understand their objectives and then crafted the deliverables for my presentation entitled “The Differing Preferences, Expectations, and Intents of an Emerging Workforce.” As it came time… Continue reading Engagement Studies Should Help Reduce Turnover and Increase Retention. Have Yours?
The Power of Employees in Today’s Job Market
The job market in today’s economy continues to prove the power employees hold. The Bureau of Labor Statistics reports 2019 closed out with a 50 year low unemployment rate of 3.5% and a whopping 7.3 million job openings. This means the majority of open jobs will be filled by employees who are currently working. … Continue reading The Power of Employees in Today’s Job Market
Employee Engagement & Retention
Updated for 2024 Organizations continue to struggle with finding, attracting and retaining employees. And after they have done that, they struggle with creating the workplace conditions necessary to drive employee productivity. To manage responsibly, companies increase budgets and resources (money and people) on engagement initiatives that simply do not work. So what in fact is… Continue reading Employee Engagement & Retention
Employee Voice: Career Conversations Around The Turkey
Updated: August 23, 2023 It is that time of year again when we get to have a day or two off work to spend time with loved ones and share a Thanksgiving meal. If your meal is like most others in America, the conversation around the turkey will turn to your job and how… Continue reading Employee Voice: Career Conversations Around The Turkey
Improve Employee Retention by Focusing on Internal Data
Updated: July 1, 2024 As the US job market continues to stay fully employed, organizations find it much more difficult to retain their employees because there are plenty of other jobs available elsewhere. A fully employed job market means that everyone who wants to work has a job. When the job market is fully employed,… Continue reading Improve Employee Retention by Focusing on Internal Data
5 Objectives of EmployER Engagement Initiatives
5 Objectives of EmployER Engagement Initiatives Human resources (HR) professionals and company leaders are increasingly tasked with assessing and improving employee engagement within the workforce – but where do you begin? Work institute can help here; the first step is to conduct an engagement study. Often referred to as an annual employee survey or employee… Continue reading 5 Objectives of EmployER Engagement Initiatives