HR Digest

DECEMBER 2, 2023

With numbers as big as these and burnout at an all-time high, it becomes increasingly important to take employee retention strategies seriously and explore what they can do to connect with their employees. Compensation and Benefits Appropriate compensation for the work done is a key component of many employee retention strategies.

Employee Retention 96

Employee Retention Salary Health and Welfare 401(k) 96

HR Lineup

JUNE 21, 2023

Implement Employee Recognition Programs Recognizing and appreciating employees’ efforts is essential for building a positive work environment and strengthening employee satisfaction.

Employee Recognition 245

Employee Recognition Retirement Plan Health Insurance Benefits Package 245

HR Lineup

MAY 10, 2024

Prioritize Employee Engagement Foster Open Communication Channels: Encourage transparent communication between employees and management to address concerns, gather feedback, and foster a sense of belonging.

Benefits Package 246

Benefits Package Flexible Spending Account Employee Retention Flexible Spending 246

Achievers

JUNE 4, 2019

Businesses with highly engaged workers have 70 percent fewer accidents than companies with poor employee engagement. Employee engagement goes beyond salary compensation. If employee engagement is so crucial, how do you nurture it? Like all emotional issues, it’s complicated.

Pay Raise 210

Pay Raise Employee Recognition Employee Loyalty Medical 210

COMPackage

FEBRUARY 25, 2025

Beyond salaries, offer benefits that align with employees needs, such as health insurance, retirement plans, and wellness programs. Provide Total Compensation Statements Many employees are unaware of the full value of their compensation. This strategy shows employees that their opinions are valued and helps prevent turnover.

Employee Retention 52

Employee Retention Health and Welfare Health Insurance Retirement Plan 52

Achievers

JUNE 6, 2022

For example, say a team member with an annual salary of $50,000 has a benefits package worth around $15,000. And that $15,000 in employee benefits is not taxable to the team member, making it even more valuable. Their total compensation would then be valued at $65,000.

Employee Benefits 281

Employee Benefits Family and Medical Leave Act 401(k) Retirement Plan 281

Achievers

JANUARY 12, 2021

According to Human Resources Today, that translates to $19 billion in costs related to hiring and training new employees. The highest turnover rates are for hourly employees: 65% of them will leave their jobs for greener pastures, and it costs a full 16% of their annual salary to replace them. .

Retail 179

Retail Employee Retention Employee Recognition Food 179

Achievers

DECEMBER 16, 2019

For 41 percent of small business employees, benefits are crucial when accepting a new job, second to salary. And for 75 percent, a good benefits package would make them take one job over another,” says a recent employee health benefits survey by QuickBooks Payroll. And in many cases, it’s benefits offerings that seal the deal.

Employee Benefits 309

Employee Benefits 401(k) PTO Benefits Package 309

Vantage Circle

FEBRUARY 3, 2025

Also, you’ll be shocked to know that, The average cost of turnover per employee can be thousands of dollars. Some studies estimate that the cost of turnover typically ranges from six to nine months of the employee’s salary. In this blog, we’ll discuss the five main drivers of employee retention.

Employee Retention 66

Employee Retention Salary Bonuses Media 66

Empuls

SEPTEMBER 26, 2024

This focus on inclusivity has helped Airbnb build an environment where employees feel valued, appreciated, and motivated to perform their best. Buffer’s transparent salary and work-life balance policies Buffer is renowned for its radical transparency, particularly when it comes to salaries.

Parental Leave 52

Parental Leave Salary Employee Recognition Employee Wellness 52

Employee Benefits

JUNE 3, 2024

In a recent article on building an effective employee recognition scheme , we discussed the importance of making the right changes after a dissapointing engagement survey. In this article, we’re breaking down the data on the benefits of employee recognition for maintaining a great employee experience.

Employee Recognition 97

Employee Recognition Software Salary Employee Benefits 97

Vantage Circle

FEBRUARY 15, 2025

Salary Increases and Promotions How it helps: A regular increase in salary and opportunity for promotions serve as a long-term incentive for employees to grow and stay committed to the company. This further helps retain top talent and reduce turnover. For any related queries, contact editor@vantagecircle.com

Bonuses 59

Bonuses Paid Leave Salary Employee Recognition 59

Insperity

NOVEMBER 14, 2023

Higher salaries for existing employees According to a Willis Towers Watson (WTW) survey that garnered approximately 28,000 responses from companies in 135 countries, including 1,550 U.S. In a tight labor market, salary increases are simply a savvy move to remain competitive and combat turnover. 6 HR budget items to prioritize 1.

Salary 105

Salary Recruitment Human Resources Technology 105

HR Lineup

OCTOBER 5, 2023

Motivosity Motivosity is an employee recognition and engagement platform designed to boost morale and productivity within small businesses. It offers peer-to-peer recognition, performance tracking, and analytics tools. It provides features such as payroll processing, attendance tracking , and leave management.

Software 130

Software Payroll Software Payroll Global Payroll 130

Qandle

JUNE 25, 2024

Continuously benchmark against market standards to ensure that your salary and benefits packages remain competitive. Example: XYZ Company conducts annual salary benchmarking to ensure its compensation packages are aligned with industry standards. Learn how Qandle HR Software can help you automate HR Software & stay 100% compliant!

Employee Retention 105

Employee Retention Software Benefits Package Salary 105

Vantage Circle

JULY 25, 2024

Employee recognition programs have become increasingly common. For most of them, recognition flows downward, meaning leaders are the only ones who show appreciation. On the other hand, peer-to-peer recognition involves employees acknowledging and appreciating each other's contributions and achievements within the workplace.

Construction 97

Construction Employee Recognition Employee Retention Recruitment 97

15Five

JANUARY 29, 2024

According to the Society for Human Resource Management (SHRM), recruiting new employees costs a business $4,700 per hire , with some employers estimating the actual cost to be three to four times that amount. For example, suppose an employee survey indicates that dental is a highly-requested benefit that the company doesn’t provide.

Employee Retention 98

Employee Retention IT Employee Recognition Hospitality 98

Hppy

SEPTEMBER 6, 2024

Alternatively, Glassdoor provides helpful insights into best practices and salaries if you are looking to hire US-based employees. Develop Stronger Onboarding For Improved New Hire Productivity A strong onboarding process can improve new hire retention by 82% and the productivity of high-performing employees by over 70%.

Management 69

Management Media Employee Recognition Software 69

HR Lineup

JULY 25, 2024

Retention: Competitive Compensation and Benefits: Offering competitive salaries, bonuses, and benefits packages to retain top talent. Employee Recognition: Implementing recognition programs to acknowledge and reward employee achievements and contributions.

IT 130

IT Bonuses Human Resources Technology 130

Vantage Circle

JULY 9, 2024

According to Gallup , the cost of replacing an employee can be up to 200% of their annual salary. By retaining employees, companies can save substantial amounts on these expenses and instead invest in the development and growth of their current workforce. Here are some effective tips to enhance employee retention: 1.

Employee Retention 110

Employee Retention Bonuses Recruitment Salary 110

Insperity

OCTOBER 17, 2023

Compensation and benefits professionals on your HR team can establish a reliable, timely payroll process , as well as: Engage in compensation benchmarking , which is regular, ongoing research, data gathering and analysis to verify whether your company’s compensation aligns with industry standards, your competitors and local market rates Assist management (..)

Employee Retention 108

Employee Retention 401(k) Benefits Package Construction 108