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Employee Retention Strategies Go Beyond Competitive Salaries

HR Digest

employees quit their jobs in a year, indicating an average of 4.2 With numbers as big as these and burnout at an all-time high, it becomes increasingly important to take employee retention strategies seriously and explore what they can do to connect with their employees. How to Improve Employee Retention?

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How inflation affects pay raises

Business Management Daily

Some saw typical wage growth and bonuses, but most of us received salary cuts as inflation ate up more and more of our paychecks. Companies like American Airlines received billion-dollar bailouts in the Payroll Support Program to make up the difference, but they chose to use the money on executive bonuses and a fleet of new jets instead.

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What’s a merit increase, and should your business use them?

Business Management Daily

As such, employers must do everything they can to attract and retain high-performing employees, and issuing regular merit increases is one of the best ways to do so. A merit increase or merit raise refers to a pay increase based on an employee’s performance. It’s not just a bonus, either. What is a Merit Increase?

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The Neuroscience of Employee Engagement

Achievers

The value of incentives to motivate employees has been debated for long. Still, money can be effective to express appreciation: a survey by Harris Interactive and Glassdoor revealed that 75% of employees consider a pay raise as a form of appreciation. Achievers’ platform is a good example of alternatives to cash bonuses.

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The Neuroscience of Employee Engagement

Achievers

The value of incentives to motivate employees has been debated for long. Still, money can be effective to express appreciation: a survey by Harris Interactive and Glassdoor revealed that 75% of employees consider a pay raise as a form of appreciation. Achievers’ platform is a good example of alternatives to cash bonuses.

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6 tips for reducing employee turnover

Hppy

There are a lot of different ways that you can show your employees that you appreciate them! Here are just a few: Offer annual bonuses. Provide regular pay raises. Give them benefits, like paid time off or employee discounts. Consider holding regular pay reviews with all of your staff members, as well.

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12 Rewards & Recognition Ideas in the Manufacturing Industry to Improve Engagement

Empuls

Recognizing and rewarding employees for maintaining high-quality standards can lead to improved product quality and customer satisfaction. Employees who feel appreciated for their role in maintaining quality are more likely to pay attention to detail and consistently meet quality standards.