Remove Employee Retention Remove Pay Raise Remove Salary
article thumbnail

Employee Retention Strategies Go Beyond Competitive Salaries

HR Digest

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. This is why employee retention strategies are important. How to Improve Employee Retention?

article thumbnail

5 Best Strategies for Employee Retention

Hppy

Employee turnover is expensive on many levels to the employer. The average cost of replacing an employee is 21% of their annual salary. However, these are complemented by other factors like sustainable workload and periodic pay raises. Pay Raises and Variable Pay Benefits.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

10 benefits to push for when a pay raise isn't on the table

Employee Benefit News

If your company has a tight budget, here are some valuable benefits that supplement your salary.

article thumbnail

How inflation affects pay raises

Business Management Daily

If you work a job long enough, you eventually come to expect a salary increase, just as most companies expect to give you one. But what happens when the raise you receive ends up leaving you with less money than you had before? The few bucks you saved on raises last year are likely to incur costs in turnover and training this year.

article thumbnail

4 Ways to Avoid the Dreaded High-Turnover Rate

Achievers

The cost of employee turnover is outrageously high. When a company loses a salaried employee, it can cost anywhere from six to nine months’ worth of the departed employee’s salary to hire a replacement.

Pay Raise 105
article thumbnail

Improving Employee Financial Wellbeing in the Face of Economic Uncertainty

Employee Benefits

In fact, about 43% of employers believe implementing a financial wellbeing strategy significantly influences employee retention. Ways to enhance employee financial wellbeing The thought of improving employees’ financial wellbeing can be a sensitive topic for many companies.

Pension 98
article thumbnail

Top 10 Benefits of Remote Working for Employers

HR Lineup

High Employee Retention. Since most employees prefer working from home, it will be easier to retain them after hiring. You also need to compensate them accordingly through salaries and other benefits that may deem fit. . Additionally, remote working may save you extra money that you could have paid to employees.