Several signs may indicate that your employer cares about you: 1.Communication: They communicate with you regularly and provide feedback on your work performance. A study by Harvard Business Review found that employees who received regular feedback and performance reviews were more engaged, more likely to stay with their current employer, and more likely to feel that…
According to the US Bureau of Labor Statistics, a department of 10 would have six replaced in 5 years if your company follows the standard turnover rate for businesses. How can a scientific research team be productive with that kind of turnover? Talent retention explicitly tailored for your employees is crucial to ensure that companies…
Mental illness is on the rise. In 2019, approximately 19.86% of adults in the United States experienced a mental illness, according to Mental Health America (MHA). Cognitive and behavioral health services, primarily driven by therapy and prescription medications, have contributed to rising healthcare costs. It is affecting businesses everywhere. Before the pandemic in 2019, the…
Employee Retention Strategies for Your Company in 2023 Employee retention strategies for your company are one of the important and most overlooked aspects of running a successful company. Due to the sky-high cost of employee turnover, most companies are actively seeking strategies to retain their best employees. The problem is, most of the literature available…
Employers have learned that incentives are key to retaining employees. Many of the standard rewards systems don’t seem to be pulling their weight. Companies try to incentivize employees to stay by offering flashy perks– like Google’s free gourmet cafeterias– or longevity bonuses, neither of which have been proven to impact retention rates. When wages are…
Machine learning techniques have been used extensively to predict and monitor customer churn. Now they’re being applied to employee retention, and the timing couldn’t be better. In light of incredibly low unemployment rates and a highly competitive labor market, employers’ number one priority is holding on to their best talent. With machine learning, corporate leaders…
Most major corporations focus their employer branding efforts on having a “positive company culture.” Some firms, like Lyft and Netflix, go even further–marketing themselves as having a counter-culture office atmosphere that stands out to potential employees as new and different. But the truth is, culture isn’t the end goal of these internal branding schemes. The…
Employee engagement is the corporate buzzword of the decade. Studies often differentiate between employees who are engaged, “not engaged,” and actively disengaged. Such terms are often used in an attempt to scare CEOs into thinking that 71% of their workforce has one foot out the door at all times. Spend Time with Employees. Good Leaders…
When looking for memorable ways to reward employees, many CEOs turn immediately to incentive travel. Travel rewards have risen steadily in popularity over the past few years, primarily because employers feel the need to keep up with other companies that are offering meaningful non-monetary incentives. Travel is a top-of-mind solution for most C-suite execs who…
Company culture is the paramount focus for companies experimenting with recognition programs. Traditional corporate culture is determined from the top down. CEOs determine the culture that managers are expected to enforce with their direct reports. But today’s ideal culture is entirely opposite—an inverse pyramid, with employees forming the foundation of a company’s workplace atmosphere. The…