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Half of employers offer financial remuneration to help employee retention

Employee Benefits

More than half (56%) of employers have offered financial remuneration to help employee retention during the cost-of-living crisis and staffing shortages, according to research by Peninsula Group. A quarter (26%) listed recruitment as their biggest challenge in terms of staffing, with pay increase requests ranked second at 22%.

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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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5 Ways To Ensure You Get the Pay Raise You Deserve

Take It Personel-ly

No matter what type of industry you work in, you likely want to prove yourself as a worthy employee. Not only will you feel personal and professional satisfaction, but you will also be more likely to get pay raises and promotions. Being a good employee is a multi-faceted endeavor.

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How inflation affects pay raises

Business Management Daily

Their prices didn’t skyrocket, their service didn’t suffer, and better hourly wages meant more workers were able to pay their bills. Raising wages doesn’t immediately seem to translate to more business in the long run, yet it does, and there are many reasons why. Basically, ERBs are used to keep key employees from leaving the company.

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5 Best Strategies for Employee Retention

Hppy

Employee turnover is expensive on many levels to the employer. The average cost of replacing an employee is 21% of their annual salary. However, these are complemented by other factors like sustainable workload and periodic pay raises. That is why a solid physician retention plan is crucial in keeping star employees. .

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What is Employee Retention?

Abel HR

In this article, we’ll discuss what is employee retention and why it’s important to any venture, big or small. We’ll also tackle a few ways to retain employees in your organization better. What Is Employee Retention? Before anything else, let’s clarify this – what is employee retention?

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

Business Management Daily

If you aren’t careful, you may isolate some employees or inspire jealousy, which can cause some employees to quit, which is the total opposite of what you want. For a pay raise to qualify as a merit increase, it must be performance-based and provide a permanent increase to a worker’s base salary. What is a Merit Increase?