Empower Partnerships’ Post

Did you know that hourly workers make up over half of the U.S. workforce, and play a critical role across the industries. https://lnkd.in/gq5w7scy Because of this, understanding their unique needs is essential for recruitment and retention. Dive into our article where we address how to creative a supportive environment that fosters engagement through: - Financial matters - Benefits - Flexibility #HumanResources#FutureofWork #benefits #talent #MercerSLC #MercerMtnStates

The world of pay and compensation is complex, specially in a fast moving talent market. Yes, your vision for growth, shaping company's culture, and how well you treat employee matters, but there are countless other factors to balance and understand. #highperformance #executivedevelopment #talentmanagement #compensationandbenefits #strategichr

Explore the latest insights into hiring trends, compensation, and workforce sentiments with the release of 24 Seven Talent's 2024 Salary Guide. Gain valuable insights into salary ranges across various industries, including Marketing, Creative, Technology, Beauty, Fashion, and Retail. Learn about the shifting priorities of job seekers, the impact of financial compensation, and the evolving dynamics of employee satisfaction and loyalty. Discover how organizations can leverage these findings to remain competitive and attract top talent in today's dynamic job market. Read the Latest full News - https://lnkd.in/dtc6bMBW #hrtech #hrtechedge #talentacquisition #hiringtrends #employeesatisfaction #workforcesolution #hrsolution #businessgrowth #innovation #transformation #technology

Please take a moment to assess your talent. According to a chart from ADP, job-stayers saw an average year-over-year pay increase of 6.9% in 2022 and 2023, while those who left their jobs experienced a 13.4% increase. This suggests that in the current market, with high inflation and supply chain issues impacting costs, there is a significant opportunity for talent to seek higher compensation elsewhere. Don't assume that your employees will stay just because your retention rate is high. It's crucial to reward and retain the people you value. This is a good time to establish talent and succession plans to prevent losing valuable employees and to demonstrate that performance and potential are recognized and rewarded in your organization. #talentmanagement #employeeengagement #retention #HRM #compensation #promotion #employeeretention #employeeattrition #rewards #talentplanning #successionplanning ADP #waterloohcm Please reach out for a consult on your options and how to "Give your employees a REASON to stay!! mitchell@waterloo-hcm.com Waterloo-hcm.com

The repercussions of a poor hire extend far beyond mere inconvenience. It's a financial strain that can significantly impact the bottom line of any business. Consider this: replacing an employee with a mid-range salary could amount to roughly 20% of their annual pay, equating to approximately £8,000. However, this isn't just about the immediate cost of recruitment; it's about the broader implications of employee turnover. Looking ahead to 2025, the forecast for employee turnover rates is concerning. Projections suggest a staggering 41% increase compared to previous years. Such a surge in turnover rates amplifies the urgency for businesses to reassess their strategies for talent retention. After all, every vacant position represents a drain on resources and productivity, directly translating into financial losses. Is it time for you to invest more in retaining top performers rather than spending the time and money needed to replace them? #FinancialLiteracyMonth #Business #BusinessOwners #Recruitment

HR teams are reported to be at the MOST risk for budget cuts in current economic conditions. Think about it-- when you're in a hiring freeze, who goes first? The recruiters without jobs to fill. 🙇♀️ The XpertHR 2024 Budget Pulse survey showed that 65% of organizations cannot increase their HR budget or sustain it, a 14% jump from 2023. 😩 Shifting investments culture attitudes, growth paths and comprehensive data on spend for personnel changes is more important than ever and reported as the top organizational priorities for this year. ✅✅✅ If being proactive in understanding organizational data, employee growth, attitudes and cutting costs while doing so is top of mind, we should talk. I may be able to help.💡 #HR #News #Updates #HRNews #Growth #Culture #Survey #Surveys #Attitude #HumanResources #Hiring #Onboarding #Hire #Recruiter #Recruiters #Connect

🚀 Key Insights from Harvard Business Review on Compensation & Retention This recent article sheds light on the challenges and solutions surrounding pay disparities between new hires and existing team members. Here are some of my takeaways: 📌Speed Matters: Quickly adjusting pay disparities reduces turnover. Immediate adjustments lead to longer employee retention compared to delays. 📌Top Talent Exits First: Higher-paid new hires significantly increase the likelihood of top performers resigning, highlighting the importance of equitable pay practices. 📌Transparency and Equity are Essential: In an era of increased pay transparency, maintaining equitable compensation is crucial for employee morale and trust. 📌Agility in Compensation Strategies: Organizations must rapidly address pay inequities to retain talent, requiring agile processes and a culture open to discussing compensation. Adapting our compensation strategies in these ways can lead to a more satisfied, loyal workforce. #EmployeeRetention #CompensationEquity #HBR #WorkplaceCulture #kornferry

According to the latest JOLTS report from the Bureau of Labor Statistics, the rate at which employees are voluntarily quitting their jobs has dropped to historic lows. With less job-to-job switching and more “nesting” with current employers, HR executives may need to revamp their strategies in trying to attract talent. Learn more: https://loom.ly/ycTAisQ

According to the latest JOLTS report from the Bureau of Labor Statistics, the rate at which employees are voluntarily quitting their jobs has dropped to historic lows. With less job-to-job switching and more “nesting” with current employers, HR executives may need to revamp their strategies in trying to attract talent. Learn more: https://loom.ly/9BIEIIQ

🚀 Harvard Business Review shares a critical insight for organizations: to retain your top talent, pay equity can't wait! When new hires get paid more, it's your top performers who are likely to walk out the door first. 🚶♂️💼 The study, analyzing over 4 million employee records, shows that quick adjustments in pay for existing employees following the hire of higher-paid newcomers significantly boost retention. 🌟 Why does this matter? In an era of increased pay transparency, thanks to regulatory changes and tech advancements, disparities become glaringly obvious. This isn't just about fairness; it's about smart business. Retaining your best people isn't just good for morale; it's a strategic advantage. 💡 Here are some takeaways for leaders: 1️⃣ Act swiftly to adjust pay inequities. Time is of the essence! ⏰ 2️⃣ Regular pay equity audits are your best friend. Know where you stand to make informed adjustments. 🔍 3️⃣ Embrace agility in your processes and tools. Stay ahead of the curve to keep your team happy and intact. 🌊 It's time to rethink compensation strategies. Not just for equity's sake, but for the long-term health and success of your organization. 💪 Read the full article here: https://lnkd.in/ew-xQKNi #payequity #retentionstrategy #talentmanagement #workforceinsights #hrinnovation #leadershipgoals #employeeengagement #faircompensation #businessstrategy #organizationaldevelopment #futureofwork