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Employee turnover rates are a crucial metric for organizations to monitor, as they show how frequently employees leave the company. Beyond just tracking numbers, understanding turnover rates requires identifying the root causes of employee departures and developing effective retention strategies in response. In this article, you’ll learn the common reasons for high employee turnover, how to develop an effective formula to measure it, and actionable strategies to mitigate it.
The IRS released its annual inflation adjustment to the percentage of household income used to determine whether an employer’s offer of health care coverage under the Affordable Care Act (ACA) is affordable.
Get ready for the future of business. As HR navigates an ongoing labor shortage, leaders need stronger, more adaptable recruiting strategies. Do you have the tools you need to build a talent pipeline that drives sustainable business growth?
Employee experience may sometimes feel like a buzz word to describe a never-attainable target of an ideal workspace where employees are happy, nurtured, fulfilled and productive 100% of the time. That sounds amazing, but it doesn’t really reflect the reality of focusing on employee experience or, more specifically, the evolution of employee experience and how to make strategic changes to nurture your workforce and move engagement – and ultimately your bottom line – in a positive direction.
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Comp and Benefits Today brings together the best content for compensation and benefits professionals from the widest variety of industry thought leaders.
I live in an age 55+ community in Florida and have observed conversations among residents (primarily women) who are mentally preparing for widowhood. They know the statistics about women outliving men and have done the math. This is especially true for those who are younger and have better health habits than their husbands. A few have plainly stated “as soon as he dies, I’m outta here,” to reduce expenses or to live closer to family or in a lifecare community or assisted living facility.
Walt Disney Co. has announced cuts to the education program that it provided for employees via the Disney Aspire program. Previously, Disneyland employees received tuition perks as one of the benefits of working at the organization, having educational opportunities available to them for free. Since 2018, the program provided employees with support for completing their college education while they continued to work, guaranteeing assistance for both bachelor’s and master’s programs.
By Karl Ahlrichs Have you ever made a bad hire? Did you do it on purpose? There’s a chance you weren’t prepared with the correct information or the right questions to ask. Managers often make the mistake of hiring employees who don’t align with the organization’s culture or share its values, leading to poor results. Peter Drucker, the father of “management by objectives,” defined the challenge best: “Executives spend more time managing people and making people decisions than on anything else—and
As our workforce evolves, so must the way we support it. With more employees choosing to work beyond age 65, HR leaders are increasingly being called upon to guide aging employees through one of the most complex transitions in their professional lives - from employer sponsored plans to Group Medicare. Without clear guidance, confusion around eligibility, coverage options, and cost implications can lead to uncertainty and missed opportunities for optimized benefits.
International Foundation of Employee Benefit Plans
SEPTEMBER 12, 2024
In March 1976, Saturday morning television featured a new video segment called “I’m Just a Bill” that used a fun cartoon aimed at children to visualize the complex path of the U.S. legislative process and describe how a bill becomes a law. […] The post U.S. Legislative Process: How a Bill Becomes a Law appeared first on Word on Benefits.
As businesses grow, managing employee leave becomes increasingly complex. What starts as a simple task can quickly turn into a logistical headache, particularly when dealing with a large and diverse workforce. This is where HRMS (Human Resource Management System) leave management comes into play. An efficient HRMS leave management system not only streamlines the process of handling employee leave but also supports business scalability.
The median pay award across the economy fell to 4% in the three months to July 2024, down from 4.8% in June, according to research by Incomes Data Research (IDR). Its latest analysis, which is based on a sample of 39 awards between 1 May and 31 July 2024, covering more than 700,000 employees, found that this was the result of a downward shift, as fewer employers paid increases worth 6% or more.
Did you know, Objectives and Key Results (OKRs) were initially popularized by tech giants like Google and Intel to drive business outcomes and enhance employee engagement. Since then, it has been adopted by companies across various industries, from startups to Fortune 500 corporations. The framework aligns individual efforts with organizational objectives, fostering a sense of purpose and measurable impact.
ChatGPT is a powerful tool that can help you quickly brainstorm, draft, and refine tasks on your to-do list. But it can take a bit of strategy and practice to get generative AI to give you the time-saving results you’re looking for. Try these 14 detailed prompts to unlock the power of ChatGPT. You'll discover ways to streamline tasks for hiring, employee engagement, and performance management.
Understanding Social Value in the Business World In today’s corporate landscape, companies are increasingly being called upon to deliver more than just profit — they’re expected to create positive impact for the environment, communities, and broader society. This is where social value comes in. What is Social Value? Social value is the broader impact an organisation has beyond its core financial performance.
The Point is back on Wednesday, September 18, 2024, at 13:00, Eastern. We will strive to identify clues and signs of people with cognitive or emotional challenges. We live in an age of significant life expectancy, and in a variety of jobs, many are working beyond traditional "retirement" ages. In addition, some perceive general increases in mental health issues across generational lines.
Macmillan Cancer Support has appointed Francesca Okosi chief people and culture officer. In this role, Okosi will sit on Macmillan’s executive team and use her knowledge and experience in leading positive culture change in large organisations to shape and drive its people and culture strategy. In her previous role, she was chief people and culture officer at an Integrated Care Board.
Understanding employee benefits can be overwhelming, with many struggling to navigate the complex details. However, AI is transforming this experience, making benefits communication and education more accessible and personalized than ever before. In this blog post, we’ll explore how AI-driven tools can simplify the benefits process, providing clear answers to common questions, streamlining open enrollment, and clearing up misconceptions about AI’s role.
The benefits landscape is shifting rapidly, and AI is at the center of this transformation. From optimizing health and wellness programs to predicting future benefits needs, AI is empowering HR and total rewards leaders to make smarter, more proactive decisions. The challenge? Understanding where AI fits in your strategy and how to leverage it effectively while keeping employee well-being at the forefront.
Wholesaler Parfetts has awarded its employees a 12% profit share bonus following a record year for turnover. The employee-owned business operates depots in Aintree, Anfield, Birmingham, Halifax, Middlesbrough, Sheffield, Sommercoates and Stockport. All qualifying employees will receive the bonus in October. It is an increase from the 10% profit share bonus that Parfetts awarded employees last year as part of its recognition of their contribution to its continued growth.
Paperwork, while no one’s idea of a good time, is an inescapable aspect of new hire onboarding. There are some things a new employee just needs to know, and written documents are often the most effective way to impart that essential information. Then there are the various forms to be reviewed, completed, and signed, many of which are required by law.
Credit: Laura Ashman Lancashire County Council, BAE Systems and Thames Valley Police were some of the employers recognised at the Menopause Friendly Employer Awards 2024. The awards took place for the third consecutive year on Wednesday 11 September at the Royal Lancaster Hotel, London. It was hosted by TV and radio presenter Lisa Snowdon and organised by Henpicked: Menopause in the Workplace.
On August 20, 2024, the US District Court for the Northern District of Texas issued a nationwide injunction barring the Federal Trade Commission’s Final Rule that bans all noncompete agreements. Read more about the court’s decision and what it means for employers and business entities here.
The right HR metrics can illuminate hidden trends, justify decisions to the C-suite, and give you an edge in this unpredictable economy. Download Paycor’s guide and learn how to calculate your: Cost-per-Hire Total Financial Impact of Absences Voluntary Turnover Rate And more!
Jump to section What is relationship anxiety? 11 signs of relationship anxiety What causes relationship anxiety? How to deal with relationship anxiety Differentiating relationship anxiety vs.
3 Top Tips on Using Our Platform to Encourage Your Team Did you know that 40% of employees report feeling underappreciated at work? ( 1 ). This lack of encouragement can seriously impact their motivation, wellbeing, and relationships with managers. To mark National Encouragement Day, we’re here to help you change that! Discover how you can use your personalised Each Person platform to show your team they are genuinely valued and keep them motivated.
Yesterday, the Appeals Court of Massachusetts affirmed a Superior Court decision granting summary judgment to an employer in a negligence action brought by an employee who was injured after clocking out [ Meehan v. Lazer Spot, Inc. , 2024 Mass. App. LEXIS 126 (Sept. 11, 2024)]. The Court held that the employee’s injuries arose out of and in the course of his employment, making workers’ compensation his exclusive remedy under Massachusetts law.
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
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