Posts tagged with 'turnover'
Job Vacancies Up as Turnover Tops 30%Read the rest of this entry »
Job openings ticked up in October, reversing an 18-month downward trend that began in March 2018 when the number of vacancies reached 7.63 million.
The Department of Labor this week released its monthly count of vacancies, hires, voluntary quits and other types of turnover.
The report showed that as of the end of the month, employers had 7.27 million openings. The largest increase was in retail trade where openings jumped …
Is Job Turnover Slowing? The Data Says NoRead the rest of this entry »
One of the biggest surprises of the economic recovery of the last 10 years has been the slow, sometimes stagnant growth of wages.
When unemployment was high as it was during the Great Recession when it reached 10%, employers felt no pressure to hike pay. Now, with unemployment at a 50 year low, a labor force participation rate lower than it has been for decades and millions of open jobs, …
An Unexpected Benefit Of $15 an HourRead the rest of this entry »
As the US inches ever closer to a $15 an hour minimum wage, one of the unexpected benefits is turning out to be improved retention. Workers earning $15 are far less likely to quit after one year (41% vs. 70%) than are workers earning the current federal minimum wage of $7.25 an hour.
The finding comes from Gusto, an HR applications provider that says it serves over 100,000 small …
Unfilled Jobs Helping to Push Wages UpRead the rest of this entry »
Friday's employment data from the Bureau of Labor Statistics showed employers created 130,000 new jobs last month, the lowest number since May. The private sector's share was 96,000; the balance reflected government hiring.
There's little doubt the numbers reflect a substantial slowdown from a year ago. Since January, all new job hiring has averaged 158,000 a month. Last year the average was 234,000. Whether that's due to the cooling global …
Here's Why Workers Change JobsRead the rest of this entry »
You've heard this before, but with talent harder than ever to recruit, it's worth repeating: Retaining good people is far more cost effective than hiring. So do you know why your people leave?
After reviewing 34,378 exits during 2017, the Work Institute has a pretty good idea. And many of the causes of voluntary departures are entirely within an employer's control. Says the Institute in its most recent report on …
Turnover Rates Continue to ClimbRead the rest of this entry »
Turnover is on the rise, reaching an average across all industries of 18.1% last year.
A report released by Compdata Surveys shows that 2016 had the highest turnover rate in at least three years, coming in 1.7 percentage points above the 16.4% rate in 2015.
Compdata's state-by-state report puts Montana at the top of the list with a 23% turnover rate. Vermont had the lowest at 14.1%.
Overall, the northeast …
The "Tells" That Workers Likely to Quit Give OffIt's accepted wisdom among managers -- and workers, too -- that when someone suddenly starts taking off work for "doctor appointments," taking long lunches, coming in late or, the gold standard, accidentally leaving a resume in the printer, they're job hunting.Read the rest of this entry »
There's some truth to that, though there are plenty of other explanations for all those behaviors. Even when they do mean someone is job hunting, by that time it's …
Stress, Work Overload Causing More TurnoverRead the rest of this entry »
After years of asking workers to do more with less, companies in 2015 will focus on employee burnout.
"Developing policies and procedures that relieve employees’ sense of being overwhelmed at work and promote sustainable work habits will be one of the top organizational change management initiatives of 2015," says ClearRock, a leadership development, executive coaching, and outplacement firm.
Onboarding is Not OrientationRead the rest of this entry »
Onboarding has to be more than introducing the new hire around and making sure the paperwork is properly filled out.
Done properly, the onboarding process can make a new employee feel "at home" more quickly, leading to a more productive and engaged worker. Without support and encouragement that begins from the moment the job offer is accepted and lasting well into a new worker's first months, turnover rises and those …
The High Cost of Nursing TurnoverRead the rest of this entry »
What does it cost a hospital when an RN leaves? In 2007, when the Robert Wood Johnson Foundation studied the cost of RN turnover, the average was $36,567. Today, inflation has ballooned that to $41,948.
As high as that is, it's only an average, developed from a detailed audit of 13 hospitals and health systems across the country.
The Foundation discovered that at a large hospital in a major metro …