Tag - Employee Retention

October 2017

Are you paying your people enough and is that the most important thing to them?

Are You Paying Your People Enough? (And is that really the most important thing to them?)

October has arrived and business owners and managers are already thinking about the looming dread that comes with regulating office Halloween costumes. HR departments are facing a different kind of horror when it comes to issues like salary increases and pay equity. The Bureau of Labor Statistics reported that the unemployment rate fell to a new post-crisis low of 4.2%. It is expected to reach 4.0% by early 2018, ahead of projections. In a tight labor market such as [...]

August 2017

Three Potential Business Pitfalls due to changing job market

Three Potential Business Pitfalls for Next Quarter

Elevated Quit Rate According to the latest release from The Bureau of Labor Statistics (BLS), 3.1 million people quit their jobs in June of 2017. In the staffing world and across other industries, a high quit rate is interpreted as sign of employee confidence in the job market. Employees will rarely voluntarily leave a position unless they are very confident in their ability to secure another job. Retention has been a major concern for employers, and a hot topic at [...]

Wage Increases are Essential in a Near Zero Unemployment Environment

Wage Increases are Essential in a Near Zero Unemployment Environment

Goldman Sachs economists underestimated just how low the unemployment rate would drop this year; so much so that they have actually adjusted their outlook for 2018 to 3.8% from the original 4.1% projection. Typically, wage increases occur when the job market is tight because employers have to pay more to attract and retain workers. Despite a current 4.3% unemployment rate, and a highly competitive job market, wages are rising barely faster than inflation. The most recent Bureau of Labor [...]

June 2017

Out of Office: Planning for Summer Vacations in the Workplace

Out of Office: Planning for Summer Vacations in the Workplace

Rarely is summer fever more prevalent in the U.S. than around the Fourth of July. In nearly every industry, employees are planning their summer getaways and family vacations. Even if a full blown summer vacation is not in the cards for everyone, most people will take a long weekend at least once throughout the summer, opting to take off on Friday, or extend their trip to include Monday. According to Statista, the July 4th weekend was the most popular [...]

Why you should hire overqualified candidates

Above and Beyond: 5 Reasons You Should Hire Overqualified Candidates

With the unemployment rate at 4.3% in May 2017, the current economic situation is forcing many employees to apply for positions that don’t match their skills and salary level. Yet employers in practically every industry are having difficulty finding candidates to fill open positions. The number of open jobs as reported by the Bureau of Labor and Statistics hit a record high of 6 million on the last business day of April. There is a general imbalance in candidate [...]

May 2017

Top Performers

How do You Keep Your Top Performers…and Attract More of Them?

In Part 1 of this 2 part blog, we talked about how to identify those key players on your team; the force multipliers that literally keep your business running, growing and innovating. You may have been surprised to learn that the top performers in your organization are up to 400% more productive than the average performers. With that kind of productivity on the line, keeping those top performers needs to be a top priority. A study by Future Workplace [...]

Keeping really important employees

How Important are Your Really Important Employees and How do You Keep Them?

Similar to professional sports teams, in practically every corporate organization there are key players. They are identified by their ability to exceed expectations and provide innovative solutions to challenges. They are self-motivated, and very reliable. Often referred to as force multipliers, top performing employees are able to work independently as well as with other employees to produce high quality work consistently. You may be wondering just how much better your best employees really are. According to the Harvard Business [...]

March 2017

5 Key Strategies to Attract and Retain Top Talent

As a corporate trainer we work with recently stated, the war on talent is over – talent won. Qualified candidates, especially recent graduates, are enjoying one of the best job markets in years. Bradley Staffing Group addressed some contributing factors to this in a recent blog post. In a 2016 First Round State of Startups survey, employers rated retention as their primary concern. Quit rates are also the highest they have been in about a decade, according to the [...]