One of the best ways to understand how to translate organizational needs into new hires and guarantee a strong team with high-quality professionals and low attrition rates is to leverage workforce planning metrics.
Employee retention is, always has been, and probably forever will be a top concern for HR, recruiters, and management. With its associated costs and cultural impact, keeping retention rates high is a way for organizations to save on recruiting and onboarding costs while increasing employee loyalty and trust. Planning an effective retention strategy needs to go beyond analyzing retention rates and explore the factors impacting retention: culture, recognition, personal development, compensation, and loyalty. Let’s explore some of the metrics most impacting retention: eNPS Career path ratio Salary change Diversity metrics…
Great companies are run by great people. Without investing in hiring and retaining top talent, you won't be able to achieve big dreams. Retention has historically been a major concern of HR, and rightfully so: high turnover drains morale, hiring budgets, and available talent pools. Want to keep your culture healthy, employer brand positive, and employees satisfied? Check out (and take advantage of!) our three tips for boosting employee retention. 1. Encourage communication Want employees to give you their best? Make sure you want to hear it! From junior employees…
We work hard for the money, don’t we? It’s almost impossible to talk about work without bringing up salary. What we’re paid is supposed to be representative of our employer-defined worth—and, on a larger scale, how the employer values their workforce. Salary average and salary change are both important HR metrics for measuring how the workforce is compensated as a whole, or in large groups. For companies competing for talent—we see you, EPD recruiters—salary average can help you understand your market position for recruiting. And for those fighting to retain…
In this strange world, where it can feel like we’re treading water trying to stay afloat day by day, it can be hard to imagine planning for the future. Lockdowns begin, lockdowns end, and after seeing our world come to a screeching halt once already, who knows what the future holds? But to keep our heads above water, we need to make an effort. We need to keep looking ahead and do our best to plan for an uncertain future. Employee growth rate is an HR metric measuring your company’s…
When your focus is building successful teams that work together as a seamless unit, it might feel counterintuitive to single out employees for their accomplishments. But to keep every part of your team moving, you need to address each of them individually. Employee recognition is the act(s) of publicly and privately acknowledging individual achievements, and it's critical to increasing your business' bottom line. Here's how. Recognition and engagement are tied Engagement is known to be an important element of culture, productivity, and ultimately bottom-line results for your business. How does…
What should you be getting paid? It’s a tough question to answer. From the dreaded job application question about your preferred salary to annual or biannual salary reviews, however, you’ll have to assign a dollar value to your work. Too high and you risk losing everything; too low and you risk underselling yourself. How do you know what’s right? Working in HR, you’re in the position to make sure all of your people are being compensated fairly and equitably. Understanding each employee’s salary range penetration will help you do that.…
Every employee matters. That’s why we invest so much in recruitment and retention: because we know that every talent we bring in is valuable. So, when an employee departs, whether voluntarily or involuntarily, they’ll leave a hole—responsibilities that need to be covered to keep the business running smoothly. Succession planning, defined by SHRM as “a focused process for keeping talent in the pipeline,” is a safety net for your organization. Investing in succession planning is an investment in your people and teams, building an action plan that will last long…
Feel like your career is stalling out? It's natural. Maybe you've been in your company or role for too long; maybe you don't have the kind of clear growth path you need to feel like you're making moves. But feeling stuck is dangerous, and it can become a self-fulfilling prophecy. Career growth is closely tied to engagement; chances are, if you're feeling out of touch with your best career self, you're feeling distanced from your organization too. Taking advantage of these five tips will help you get back in your groove,…
Is your organization ready to take diversity and inclusion programming to the next level? Building a diverse and inclusive workforce has a measurable impact on your business: more productive teams, increased engagement, stronger loyalty, and quantifiable bottom-line results. Diversity and inclusion efforts often start with diverse recruiting, to build stronger teams, but once those teams are created there’s much more work to be done. One way to build a strong, more inclusive culture is to create a diversity and inclusion committee: a guided group of employees working together on D+I…
Moving from shared offices to working from home is a big transition demanding thoughtfulness and attention to the smallest details. From hiring to firing, every HR process needs to be redesigned to fit this new reality. Redeveloping your onboarding process, rebuilding your performance management, and helping your employees maintain work-life balance is only the beginning. Because once you’ve done it all, you have to take the next step: reviewing the data, drawing insights, and figuring out what your work was worth.The impact of work from home on your teammates can’t…
Across continents, genders, and seniority levels, it seems we’re all feeling the same thing: we’re having a hard time. We checked in with 2000 workers across the US and UK about their mental health at work and how it’s been affected by the pandemic. To get the full picture we surveyed full-time employees from all walks of life, spanning different industries, seniority levels, and genders, and talked to them about how their lives have changed since COVID-19 took over the world. We discovered that, across the board, we’ve all been…
