Get Lighthouse

NOVEMBER 17, 2023

Do you know your employee retention rate? Ignoring retention issues can slowly kill your company, especially if the number suddenly drops sharply. Understanding your retention rate helps you recognize if you have a real problem or typical turnover for your industry. Table of contents: What is Employee Retention Rate?

Retention 52

Retention Hospitality Manager Advertising 52

15Five

JANUARY 18, 2024

I feel like we’re constantly losing people”) into hard facts you can compare to industry benchmarks (e.g. Since employee retention is part of HR’s responsibilities, calculating and managing turnover rates falls on them, too. Always think about the next iteration of your employee retention strategy. Check out our guide here.

Retention 98

Retention Performance Management Compensation Onboarding 98

AIHR

FEBRUARY 1, 2024

Objectives • Attract top talent • Improve employee satisfaction • Align pay and benefits to performance and outcomes • Strive for fairness and transparency • Reduce churn rate / increase retention. Accounting Clerks, Payroll Specialists. Issue paychecks to employees • Create the payroll records required by the government.

Compensation 111

Compensation Manager Benefits Benchmarking 111

AIHR

JUNE 13, 2023

Compensation structures establish clear goals, determine the right mix of fixed and variable pay , and create benchmarks that motivate salespeople to achieve targets and contribute to business growth. Key accountabilities: Key accountabilities outline the core responsibilities and objectives of the position.

Compensation 105

Compensation Sales Sales Metrics 105

AIHR

NOVEMBER 22, 2022

It promotes trust: Pay transparency keeps companies accountable to ensure that pay fairness is a priority, leveling inequities to close the gender and racial pay gap. To maintain this trust, regular benchmarking activities are conducted in a structured, data-driven way. Benchmark internally as well as externally. Flexibility.

Compensation 122

Compensation Benchmarking Benefits Implementation 122

AIHR

JULY 26, 2022

Mapping out a strategy of all the positions you need to hire and the recruitment expenses that go with it (job ads, staffing agency fees, onboarding costs) enables you to make an informed decision in planning your budget to account for your staffing requirements. Put your headcount reporting in order. A final word.

Staffing 143

Staffing Recruitment Sales Sales 143

15Five

APRIL 16, 2024

However, onboarding the wrong software can result in wasted resources and a minimal impact on key engagement metrics such as retention, absenteeism, and turnover. For example, does the tool have dedicated account managers who support your business? Customer support New software often comes with a steep learning curve for employees.

Employee Engagement 98

Employee Engagement Software Onboarding User Experience 98

Zenefits

SEPTEMBER 14, 2022

Whether you are recruiting new employees or focusing on employee retention , a solid compensation plan is key to finding and keeping top-quality employees. Benefits and other programs beyond wages account for an average of 31.2% of total compensation, according to the Bureau of Labor Statistics. Benchmarking.

Compensation 59

Compensation Benchmarking Insurance Benefits 59

Vantage Circle

JANUARY 21, 2024

Ongoing index measurement empowers data-backed investments into targeted engagement initiatives that motivate higher performance and retention. Plenty of research shows engagement directly transforms key performance outcomes like retention, productivity, safety, and profitability. What Does the Employee Engagement Index Mean?

Employee Engagement 63

Employee Engagement Benchmarking Metrics Retention 63

AIHR

OCTOBER 12, 2022

Pay plans are structured with pre-determined performance targets appraised within a certain period and paid out if benchmarks are met. Improving employee retention: A well-structured variable compensation plan is a great tool to retain your employees, especially top performers. Take company culture into account.

Compensation 130

Compensation Benefits Metrics Implementation 130

Growth Hacker

SEPTEMBER 30, 2022

The growth team is always doing something new, such as improving conversions, validating a new channel, optimizing a step of the funnel, testing new pricing plans, experimenting with a new bundle/packaging, and improving retention with a completely new approach. It’s hard to plan the future based on no past. So what should they do then?

KPI 96

KPI Revenue Reorganization Onboarding 96

AIHR

FEBRUARY 6, 2024

Talent retention : For example, improve employee retention rates. Enjoy steady progress: Consistent goal setting and measurement of outcomes provide you with benchmarks to track progress, assess the effectiveness of your recruitment strategies , and tackle areas for improvement. Remove subjectivity and rely on data instead.

Recruitment 105

Recruitment Metrics Media Retention 105

AIHR

AUGUST 26, 2024

Improving retention strategies: By understanding why employees stay or leave, you can improve your retention strategies and reduce the costs associated with high turnover. You can then develop proactive measures for talent retention and succession planning.

Metrics 69

Metrics Benchmarking Retention Employee Engagement 69

Vantage Circle

JUNE 7, 2024

Exit Interviews: Understand why employees are leaving and identify areas to improve retention. Boosting Retention : Regular surveys can point out underlying issues that contribute to employee dissatisfaction and turnover before good talent leaves.

Benchmarking 52

Benchmarking Employee Engagement SaaS Onboarding 52

Vantage Circle

NOVEMBER 15, 2024

Benchmarking: Use industry benchmarks to see how your organization’s metrics compare. Benchmarks help provide an additional layer of context, enabling you to see how your company performs compared to its competitors. Provide Context: Include benchmarks or industry comparisons to provide additional context.

ROI 97

ROI Employee Engagement Metrics Benchmarking 97

AIHR

OCTOBER 23, 2024

That way, ESG becomes practical, aligned to business goals, and helps instill the desired culture of accountability that the organization aims for. These valuable insights allow them to identify areas for improvement and implement initiatives to enhance employee wellbeing and retention. Collaboration with other teams is crucial here.

Metrics 98

Metrics Government Energy Inclusion 98

AIHR

SEPTEMBER 7, 2023

Chipotle’s employment retention rate is 3.5 From there, you can set goals and define benchmarks for getting the workforce where it needs to be. The algorithm they designed only takes into account the negative gap situation of an employee’s competencies being lower than the ones needed.

Benchmarking 98

Benchmarking Recruitment Manager Accounts 98

Vantage Circle

DECEMBER 5, 2023

Stay interviews have become a key strategy for organizations in a world where talent retention is as crucial as talent acquisition. Statistics on Employee Turnover and the Cost Benefits of Retention Employee turnover is more than just an operational hurdle; it's a significant financial burden.

Retention 93

Retention Manager Benchmarking Implementation 93

Zenefits

JUNE 1, 2022

PTO matters in multiple ways, including retention, recruiting, mental health, and performance. Offering PTO and ensuring employees use it increases loyalty and retention. You want to be competitive in attracting employees and provide a benefits package that encourages employee retention. No account yet? Why PTO matters.

Retention 59

Retention Benefits Benchmarking Recruitment 59

15Five

DECEMBER 27, 2023

HROD in the Spotlight Launched in June, the HR Outcomes Dashboard helps HR teams demonstrate greater strategic impact with real-time data and competitive benchmarks for employee engagement, retention, performance and manager effectiveness.

Performance Management 75

Performance Management Employee Engagement Benchmarking Performance Review 75

Zenefits

JUNE 23, 2022

If you don’t offer enough sick days, it can hurt your attraction and retention rates. While the BLS’ analysis is a reliable benchmark, it would be a mistake to solely rely on it. No account yet? The vast majority of employers in the United States offer paid time off, including sick leave. How many sick days should you provide?

Government 105

Government Administration Banking Benefits 105

Vantage Circle

MAY 20, 2022

" She adds that "internal alignment allows for accountability and trust and opens the door for conversation, powering future initiatives and fueling deeper understanding." " Ideally, you'll have baseline pre-intervention data to track progress, but if not, use benchmark data from others in your industry.

Inclusion 98

Inclusion Diversity Education Recruitment 98

AIHR

SEPTEMBER 13, 2023

Chief Talent Officer Salary : $237,000 – $436,000 Job description The Chief Talent Officer manages the recruitment, development, and retention of executives and business leaders in an organization. Strategic thinking: Develop executive talent management and retention strategies.

Compensation 105

Compensation Human Resources Recruitment Administration 105

Chief Executive

AUGUST 25, 2022

“We spent a full year setting up the process, doing the research, getting the benchmarking and making sure we had the right roles and job hierarchy in place.” You talked about the importance of retention. I do think leadership and culture are key for retention. We should be thinking about talent differently.

Government 98

Government Benchmarking Engineering Reorganization 98

AIHR

APRIL 3, 2023

This attracts top talent from the industry and may lead to better retention rates. Identify comparable positions in the industry and use them as a benchmark to establish competitive salary ranges. Cost of living adjustments: Take into account changes in the cost of living and adjust salaries accordingly.

Compensation 130

Compensation Job Analysis Education Marketing 130

Zenefits

OCTOBER 11, 2022

Andrea Derler, Visier’s Principal of Research and Customer Value, says a few simple metrics can make sense of 3 of the biggest trends playing out in the workforce today: talent attraction and retention; diversity, equity, and inclusion; and leader’s data mindset. Talent attraction and retention. No account yet? Remember Me.

Metrics 52

Metrics Diversity Retention Inclusion 52

Vantage Circle

MAY 18, 2023

These programs are designed to increase employee experience , boost morale, improve retention, and ease financial stress. Employees can save a portion of their pay into a retirement savings account, which increases over time. These are provided to give a company a competitive advantage while focusing on increased retention.

Insurance 105

Insurance Benefits Implementation Education 105

Zenefits

AUGUST 3, 2022

Better health insurance coverage, generous paid time off and vacation days, retirement benefits, and professional development opportunities all rank highly regarding job satisfaction and retention. While it may be a “nice to have,” gym memberships are hardly an effective retention strategy. No account yet?

Benefits 52

Benefits Insurance Retention Benchmarking 52

AIHR

DECEMBER 5, 2024

Monitoring employee engagement: Metrics such as engagement survey scores or turnover rates signal morale and satisfaction, which impact retention and organizational performance. The owner is rewarded in case of success and is held accountable if the target isn’t hit. The NPS can be a solid HR KPI, depending on your strategic goals.

KPI 98

KPI Metrics Recruitment Employee Engagement 98

AIHR

OCTOBER 1, 2024

These metrics also enhance the employee experience by preventing overwork, boosting satisfaction, and improving retention. Tracking this metric can highlight areas where improvements are needed, such as communication, benefits, or work environment, which ultimately enhances retention and engagement.

Metrics 52

Metrics Manager Staffing Revenue 52

AIHR

OCTOBER 5, 2023

Research shows that Human Resource Management (HRM) practices like training and development and performance appraisal are significant factors in employee retention. Creating a RACI chart (Responsible, Accountable, Consulted, Informed) helps clarify who is responsible for what tasks and decisions.

Change Management 116

Change Management Implementation ROI Assets 116

AIHR

JULY 17, 2023

Secondly, DEI initiatives create a workplace where employees feel heard, respected, and feel a sense of belonging , boosting engagement, performance and retention rates. Establish some key DEI metrics and benchmarks that will help you see where you are in relation to your goal. 3 Companies with successful DEI initiatives 1.

Implementation 98

Implementation Inclusion Diversity Recruitment 98

AIHR

AUGUST 13, 2024

The right training and development program can boost employee retention and address skills gaps to keep your organization competitive. HR process example: Performance appraisals HR works closely with managers to set performance criteria and benchmarks.

Human Resources 98

Human Resources Compliance Compensation Onboarding 98

AIHR

OCTOBER 27, 2023

At the same time, compensation, benefits, and related taxes can account for up to 70% of business costs , highlighting the importance of getting comp & ben right at your company. HR uses compensation to attract top talent and boost retention rates. Their salary benchmarks are set at the 50th percentile of San Francisco market data.

Compensation 116

Compensation Benefits Insurance Sales 116

Zenefits

SEPTEMBER 16, 2022

Assign accountability. When accountability is woven into your company culture, every team member will be more open to team collaboration to solve problems, to move projects forward, and to share knowledge. One of the benchmarks of effective teamwork is the ability of team members to share ideas. No account yet?

Onboarding 59

Onboarding Administration Accounts Benchmarking 59

AIHR

NOVEMBER 28, 2022

HRs role includes: Determining whether a PIP is appropriate for the situation Working with managers to create the PIP to prevent bias and achieve the best outcomes Guiding employees and managers throughout the process Regularly check that targets are being met, as PIP objectives should always include deadlines to ensure accountability.

Metrics 126

Metrics Sales Sales Implementation 126

BetterUp

SEPTEMBER 7, 2022

People teams need to access and leverage data to help overcome workforce challenges around retention, well-being, and upskilling, all amid a rapidly shifting and unpredictable business environment. Reach out to your Account Manager for details about setting up this integration. Core to this shift for People teams is actionable data.

Scaling 52

Scaling Account Management Metrics ROI 52