Companies have experienced explosive growth overall in recent years, as evidenced by the increasing amount of payrolls reported in the US last month. But, this growth is a two-edged sword. What’s the danger?
cost savings, Employee Engagement, loyalty
Employee loyalty is more important than ever. The current labor market is considered uncomfortably tight - a situation that creates an excess need for workers. This makes it difficult to hire for open positions and makes it increasingly expensive to lose valued employees.
retention, Turnover, bottom line, Employee Retention, employees quit
Employee retention refers to an organization’s ability to keep its employees. Employee retention is usually represented as a percentage. For example, an annual retention rate of 80% indicates an organization kept 80% of its employees that year and lost 20%.
daily pay, daily payment, differentiate your businesse, economy, Recruiting
Last week, it was announced that the U.S. economy added 227,000 jobs during the month of January, significantly higher than the 157,000 jobs added during December. This also exceeds the consensus estimate of 174,000 job additions. Interestingly, these are the highest monthly job gains since September.
employee attrition, payment incentives, what employees want, bottom line, employee acquisition, hiring good employees, Recruiting
If you pay your employees competitively and focus on a healthy work atmosphere, then it’s easy to recruit all the talent you need, right? As it turns out, this is flawed logic. In most cases, it’s difficult to hire quality employees, even when the pay is decent and the atmosphere is warm. In today's world, it takes[...]
employee attrition, reducing call outs, top call out reasons, why do employees call out, Employee Engagement
Employers can expect their employees to call in sick from time to time. Sometimes the calls are legitimate, but other times they might be more of a stretch to believe. It turns out some excuses are better than others. It also seems that calling into work may be an industry-specific matter. Some companies are more[...]
reducing turnover, unemployment rate, Employee Retention, how to reduce turnover, labor market, Recruiting
The unemployment rate in the United States was at 4.5% in March 2017. This is the lowest it has been since Jan 1, 2001, according to historic data documented by the Bureau of Labor Statistics. During the same month, the BLS measured the labor force participation rate at 63.0%. This indicates the majority of[...]
Employee Engagement, financial wellness, Financial Wellness Benefit
Financial issues are burdensome and distracting for everyone. In fact, when one of your employees is concerned about financial security, you lose them as an engaged employee.