article thumbnail

Employee Retention Strategies Go Beyond Competitive Salaries

HR Digest

A Gallup report stated that the cost of replacing an employee could range from one-half to two times the employee’s annual salary. Being willing to provide competitive pay for a role is the most straightforward approach a company can adopt, that is, providing a higher salary than other companies in the industry are offering.

article thumbnail

How Do Companies Determine Salary?

Take It Personel-ly

According to a 2018 Forbes analysis, wages have not kept up with inflation for nearly 50 years. If you’re a first-time employer, you’re probably feeling a bit stressed about determining the salary for your employees. This isn’t due to a lack of money. It’s due, instead, to poor financial management.

Salary 80
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Employment laws to watch in 2018

Insperity

Employment laws continue to evolve, and 2018 will usher in some big changes in two of our most populous states, California and New York. The HR world is abuzz with all the implications of implementing New York state’s paid family leave legislation and California’s ban-the-box law, both of which went into effect January 2018.

article thumbnail

Recognition Improves More Than Engagement Scores

Employee Benefits

According to Work Institute , it could cost your organisation up to 33% of an employee’s salary to replace them. Atlas Hotels has been a Mo customer since 2018. A recognition-rich culture is proven to prevent attrition and even lower high attrition rates. But that’s not the end of the potential benefits.

article thumbnail

Kingfisher provides benefits security through bulk annuity purchase

Employee Benefits

Credit: ClimbWhenReady / Shutterstock In the UK, home improvement firm Kingfisher’s pension provision comprises a closed final salary section, with 28,000 deferred and pensioner members, and an open money purchase section, with 70,000 active and deferred members.

Pension 105
article thumbnail

Lancashire County Council ordered to pay £800,000 in discrimination case

Employee Benefits

In 2018, there was an internal restructure of the department Healey worked in while she was off sick. She was diagnosed with cancer in 2014 and had periods of sickness absence while undergoing chemotherapy. Healey returned to work in May 2016 but required more treatment in 2017 as the cancer had returned, and was then off until early 2019.

Pension 105
article thumbnail

Top HR Technology Trends in 2018

Hppy

Here are some of our best predictions for 2018. For HR, the most exciting possibilities are probably the opportunity to make it possible for internationals to spread out their salary and compensation processes so that they are less expensive and far quicker to operate – all without losing privacy and even gaining transparency.