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10+ Employee Retention Strategies for 2023 to Keep Your Top Talent

AIHR

Investing finite resources into effective employee retention strategies will play a pivotal role in the success of your organization. Let’s explore why employee retention matters and the best employee retention strategies HR can implement in the business. Let’s explore why employee retention matters in more detail.

Retention 111
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How to Improve Retention: 10 Strategies to Support Employees and Reduce Turnover

15Five

These outcomes are inextricably linked, making retention mission-critical to your business. 10 employee retention strategies that make an impact Working to improve retention is not only about hanging on to valuable team members. Ongoing training and career development are also critical to retention.

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Claiming an Employee Retention Credit in 2022

Zenefits

You can still claim an employee retention credit (ERC) if you own a small business and had to partially or fully close because of COVID-19. Your business can claim a maximum credit of 50% of the wages paid to staff in 2020 and 70% in 2021. Is it too late for me to claim the employee retention credit? .

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17 Employee Retention Statistics That Are Required Knowledge in 2024

15Five

Finding, onboarding, and training a replacement employee can cost anywhere from 30-400% of what you were paying the person who left. Here’s a treasure trove of stats on employee retention in 2024. Source 63% of employees who left a job in 2021 quit because their pay was too low. To do that, you need data. Luckily, we’ve got it.

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Does Onboarding Mean You Are Hired?

Zenefits

But as you begin the onboarding process, you may wonder, does onboarding mean you are hired ? In most companies, beginning the onboarding program for a new employee means that the job has been filled. If you start the onboarding process, are you hired? So when does onboarding mean you are hired?

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Employee Onboarding vs. Training: The Purpose of Each and Virtue of Both

Zenefits

As an HR representative or hiring manager invested in the employee onboarding process , you’re charged with checking all the proverbial boxes when bringing new hires on board. Research published in late-2021 cited that some 73% of current employees surveyed were considering quitting their jobs due to dissatisfaction.

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How Do Managers Influence Retention Rates?

Zenefits

Studies showing managers’ influence on employee retention. Consider the studies and statistics below to better understand managers’ influence on employee retention. A manager’s ability to attract and retain talent can be the difference between a high retention rate and a crippling employee exodus.