How to Keep Employees Happy: Combat Attrition

job tipsDo you feel passionate about your work and committed to your company? 70% of Americans would be likely to respond “no” to this question.

According to Gallup’s 2013 State of the American Workforce report:

  • 18% are actively disengaged: dissatisfied, unmotivated workers with attitudes that can be contagious to coworkers
  • 52% are disengaged: doing the bare minimum required to keep their job, but without any real connection to their work
  • 30% are engaged: proactive, productive employees who feel personally connected to the company

Low Employee Engagement Increases Attrition

Actively disengaged employees cost the U.S. more than $450 billion each year. Unhappy employees are more likely to leave the organization. Adecco’s 2012 Graduation Survey revealed that 91% of recent graduates would leave a job they didn’t like within a year. Turnover is expensive: on average, replacing just one employee costs 20% of their annual salary.

Attrition occurs when employees who leave aren’t replaced. Ironically, this often results in more turnover, as remaining employees become frustrated trying to “do more with less.” If your company has an employee engagement problem, or if you’re a disengaged employee, you probably already know it.

So how do you solve the problem and avoid attrition? Start by getting inspired by these five companies, who have developed creative employee engagement strategies to keep employees happy and minimize turnover.

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5 Ways The Hiring Process is Just Like Fantasy Football

Recruiting the right candidatesFantasy football season is in full swing, with more than 20 million Americans each week setting their rosters in hopes of capturing a coveted league championship.

While fantasy football is all about fun – and maybe winning a few bucks – it can also be instructive for those looking to hire top talent.

The strategy and skills required to run a successful fantasy football team in many ways mirror a successful hiring process. Here are a few ways how:
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How can you improve your talent pipeline? Hire a veteran.

Interested in hiring a veteran? Click here.The Many Benefits of Hiring Veterans

Military veterans served our country, and now many of them are making the transition from active duty service-member to active job seeker. This group represents a great opportunity for employers to cast a wide net when looking for top talent in the workplace.

First and foremost, veterans are almost always a smart hire. Their military service has provided them with a range of skills, expertise and leadership capabilities that translates well into the civilian sector. A veteran’s can-do work ethic and ability to perform and execute strategies well under pressure are not only mission-essential qualities for the military; these attributes make them stand out as candidates as well. Another incentive to hiring veterans are the federal tax benefits corporate America receives to encourage the hiring of veterans.

The unemployment rate for veterans currently runs about two points higher than the national average. To help reverse this trend, several initiatives are under way to bolster placement for veterans. One program that has delivered promising results is Hiring our Heroes. Launched in March 2011, the program connects employers with veterans, primarily through more than 600 hiring fairs throughout the country.
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Hiring for STEM skills in the New Year – Don’t wait

STEM skills worker in the fieldAs we near the end of 2013, is your 2014 workforce in place?  If you haven’t already, get a head start on recruiting for your current and projected 2014 hiring needs, especially if you’re recruiting employees with science, technical, engineering and mathematical (STEM) skills.  One of the most difficult challenges facing companies is the severe and growing gap in professionals with STEM skills.

To learn more about the STEM skills gap and its source, view our new infographic.

Recruiting for STEM jobs

Skilled STEM workers are particularly difficult to find, so we’ve compiled a list of recruiting strategies you can start using now to have your hires ready for January 1, 2014. 
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The Skills Gap and the State of the Economy

Job seekers lack soft skillsThere are plenty of available jobs in the U.S. Unfortunately, there’s no one to fill them.

This is just one of the surprising findings revealed in a 2012 white paper by the World Economic Forum. 600,000 jobs are currently unfilled in the manufacturing sector alone. This figure seems at odds with the unemployment rates that have become a media mainstay over past several years. With so many people out of work, how can so many jobs be open?

The problem, it turns out, is a considerable gap between the skills American workers have and the skills they need to perform in the contemporary industrial workplace.

According to the white paper, 67% of industrial hirers polled experience substantial difficulty finding employees skilled enough to do the available jobs. 56% polled said that they anticipate the problem getting worse in the near future.

To understand more about this issue, we recently surveyed 500 senior executives in a variety of industries. Their responses emphatically underscore the World Economic Forum’s findings: a troubling skills gap exists in the United States, and it threatens the very future of American business.
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Holding onto millennial job hoppers

Millennial indecisive about his job. He, like many other Gen Yers may be a job hopper.“A generation of job hoppers” is how Millennial branding expert Dan Schawbel described Generation Y workers in a recent Human Resource Executive article.

“While older generations are looking for salary and benefits, Millennials are looking for meaningful and flexible work,” Schawbel said in the article. “What they want from their jobs is different, and that’s why they leave in a couple years.”

And indeed, Millennials typically are switching jobs at a swifter rate than previous generations. A recent study found 60% of Millennials leaving their companies in less than three years, with the average cost to replace that employee between $15,000 and $25,000.

For managers and companies focused on retention, these figures can prove daunting. Yet steps can be taken to help boost your odds of keeping your best millennial workers longer. 
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