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Leveraging Stay Interviews and Low-Cost Benefits for Improved Employee Retention

PeopleStrategy

Finally, how organizations handle employee departures can significantly impact their employer brand and reputation. Conducting respectful offboarding interviews demonstrates a commitment to employee well-being and professional development, enhancing the organization’s reputation as an employer of choice.

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8 Tried & Tested Employee Retention Strategies in the Insurance Sector [2024 Edition]

Empuls

Employee retention is a critical factor in the success of insurance companies.    Recent studies reveal that employee retention rates in the insurance industry hover between 12% and 15% , with voluntary turnover rates showing an upward trend. However, there's no need to worry. 

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Top Strategies to Reduce Employee Turnover in 2024

HR Lineup

Companies must adapt their retention strategies to cater to the needs of remote employees and mitigate the challenges associated with virtual collaboration. Employee Well-being and Mental Health: The recognition of employee well-being as a cornerstone of organizational success has gained prominence.

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20 Employee Appreciation Ideas That Will Make You Stand Out in 2024

Empuls

→ Moreover, recognition plays a pivotal role in employee retention. In a survey conducted by Glassdoor , 53% of employees reported that they would stay at their current company longer if they felt more appreciated. Offer opportunities for skill development through workshops, seminars, or online courses. 

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24 Actionable Employee Engagement Ideas and Activities

Achievers

Providing social recognition has a significant impact on employees as material rewards do, and it leads to organizational benefits across the board: improved individual performances, better NPS scores, and even higher stock prices. It also results in improved employee retention and engagement.

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10 Key Strategies You Need to Know to Enhance Employee Experience Management

Vantage Circle

Promote Employee Recognition Promoting employee recognition is crucial for boosting morale and motivation. When employees are appreciated for their efforts, it leads to increased productivity and engagement. The key here is to weave recognition into the fabric of your company's culture.

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How to retain employees and thrive during the Great Resignation

Insperity

Although most of the categories below can be included in a retention strategy, the big three to think about are: Competitive salaries and benefits – Review your salary structure , bonus programs employee benefits and other employee recognition programs to see where you have room to make improvements.

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