Pay and Employee Retention
88% of businesses plan to give employees raises this year. What is the average raise that employees can expect? Drumroll please…4.5%. It seems business is finding that holding on to their employees will now require frequent pay reviews. 57% of organizations now view employee retention as a problem for their business up from 28% in 2009. (Source:PayScale)
Why employees fail
In research that tracked 20,000 new hires 46% failed within a year and a half. Surprisingly, 89% of those fails were for attitudinal reasons rather than a lack of skills. Issues cited included lack of motivation, temperament or emotional intelligence. (Source: Leadership IQ)
Onboarding
An onboarding program that is structured and includes training as well as performance milestones can have a huge effect on employee retention. In a study by Wynhurst Group those employers that provide this type of orientation are 58% more likely to retain those employees after three years on the job. They are also likely to experience 54% higher productivity from these hires. (Source: Wynhurst Group)
Workplace bullying
In the US just under half of the workforce, 48%, have experienced workplace bullying. 27% report having been the direct victim of bullying and a further 21% claim to have been witness to bullying in their workplace. What is more surprising is that only 6% of employers have a zero-tolerance policy in place to combat bullying. Considering the destructive nature of this behaviour across a company and the potential for litigation it seems like an obvious step for all businesses to take. (Source: Workplace Bullying Institute)
Office Romance
Love is hot! 42% of organizations do now have an explicit (pardon the pun) company policy regarding workplace romance. This is up sharply from just 20% in 2005. Having a clear policy helps to avoid confusion in the very common event of co-workers finding each other attractive. (Source: SHRM)
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