Monitoring and assigning a dollar figure to turnover is important for any business. Companies need to track employee turnover so they can look for and minimize causes of turnover, in part to protect their bottom line.
employee attrition, payroll costs, Cost of turnover, Employee Retention, employee turnover, Financial Security, financial wellness
employee attrition, how to help employees pay bills, Financial Security, financial wellness, Financial Wellness Benefit, how to help employees meet deadlines
Financial wellness programs at the workplace have gained popularity over years. In a recent Bank of America survey, nearly three-quarters of 1,020 plan sponsors surveyed believe that financial wellness solutions will be standard elements of benefits packages in the future. It is also suggested that large companies[...]
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, Payroll, payroll costs, Employee Engagement, Employee Retention, payroll schedules
Payroll schedules need to toe the line between appeasing employees and doing what’s right for your company’s bottom line.
employee attrition, high turnover, reducing turnover rate, turnover rate, why do people quit, cost savings, Employee Retention
Businesses regularly aim for a 10% benchmark when it comes to employee turnover rates. Unfortunately, that figure is not always obtainable. In fact, sometimes turnover has to do with conditions beyond an employer's control - certain industries are inherently subject to high turnover rates. This means employers in[...]
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[...]
employee attrition, how much does a call out cost, price of call out, reducing call outs, Employee Engagement
It is expected, by most employers, that their workers will miss a certain number of workdays each year. When employees begin to chalk up excessive absences, decreased productivity and morale - as well as an impact on a business's finances - become apparent.
employee attrition, how to help employees pay bills, Employee Engagement, how to help employees, how to help employees meet deadlines, paycheck to paycheck
We’ve written about how the lack of financial security is a catalyst of increased turnover, absenteeism, and overall financial unwellness. It’s easy to read about financial insecurity and not link the struggles to the employees who work at your organization. But, it is more than likely a percentage of your workers[...]
employee attrition, Employee Retention, employee turnover, financial wellness, Financial Wellness Benefit
Employee turnover is expensive, and in many industries, the cost of losing good workers is rising. Tight labor markets, and young employees job hopping at an increased rate are two proven contributors to turnover increases. Turnover is a meaningful expense for companies who constantly have to recruit new employees[...]