Employees who switched companies used to earn roughly 10 to 20 percent more than those who stayed with one company. Not anymore. The median pay increase for workers switching jobs sank substantially to 4.8 percent last month from a high…
Tag: employee turnover
The surprising reasons why employees quit
New research based on 15 years of studying the behavior patterns of more than a thousand job switchers at varying job levels and career stages has identified the dominant reasons why employees quit their jobs. The answer isn’t compensation and…
Recognition is the remedy for undervalued employees
Unfortunately, many employees do not feel valued at work. As reported by Forbes, a survey of more than 1,000 full-time employees in the US found that more than half of respondents felt only somewhat valued (46.6 percent) or not valued…
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Stay ahead of labor force trends by improving your organizational culture
Last week, there was an explosion of news about the labor force that rocked the stock market. The big surprise was that hiring was significantly higher than expected. There was some good news: hiring was lower than in April by…
Read More Stay ahead of labor force trends by improving your organizational culture
Job satisfaction at all-time high thanks to hybrid working and job switching.
According to The Conference Board, US workers have never been more content, despite the pandemic, quiet quitting, quiet firing, and the forwards and backwards over hybrid working. Overall job satisfaction among US workers increased in 2022 to its highest point…
Read More Job satisfaction at all-time high thanks to hybrid working and job switching.
How to ensure high returns for 2023
Executives are in a quandary. The economy is growing but the Federal Reserve is determined to reduce inflation to two percent. With US workers in short supply, it is not wise to lay off this precious resource unless your business…
Your corporate culture may be the No. 1 cause of employee turnover
Only 12 percent of HR respondents have a regular cultural assessment strategy for assuring their workplace culture stays on track, according to a 2021 Talent Management State of the Industry survey. This result is extraordinary because having a toxic work culture…
Read More Your corporate culture may be the No. 1 cause of employee turnover
Stop fretting over falling employee engagement. Go to the source.
Many organizations trying to fight falling employee engagement numbers are making a mistake. Frankly, now is not the time to deal with such matters. Instead of launching another employee engagement survey, listen to your employees’ frustrations and begin to work…
Read More Stop fretting over falling employee engagement. Go to the source.
Corporate culture drives business performance — and employee retention
There is long-standing empirical research demonstrating how corporate culture improves organizational innovation, productivity, and profit. Now, evidence is emerging that healthy organizational cultures are also the best way to beat the Great Resignation. Two weeks ago, MIT researchers uncovered that…
Read More Corporate culture drives business performance — and employee retention
How to calculate and strategically use the cost of employee turnover.
Clients and HR leaders frequently ask me how to calculate the cost of employee turnover. The cost of turnover is a critical measure to determine how effectively the workforce is aligned to the organization’s mission, values, and culture and the…
Read More How to calculate and strategically use the cost of employee turnover.