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Cost per Hire for U.S. Companies Rises to $4,700, New Survey Shows

Engagedly

Beyond wages, there’s a lineup of hidden expenses, from job ads and recruitment fees to onboarding and training. In fact, the Society for Human Resource Management (SHRM) reports that average cost per hire has jumped from $4,129 in 2019 to $4,700 in 2023 —a 14% increase. How much does it really cost to hire someone?

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How Employee Benefits Can Boost Recruiting, Retention, and Reputation

Netchex HR Blog

Recruiting and retention are areas that can be particularly boosted. Big-ticket benefits like health insurance are obvious favorites, but less expensive perks like flexible work and earned wage access also attract job seekers. High turnover is a nightmare for HR and productivity.

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Ontario to Increase Minimum Wage

Global People Strategist

In a significant move aimed at improving the livelihoods of its citizens, the Canadian province of Ontario has announced an increase in the minimum wage. Starting next year, the minimum wage in Ontario will rise to $16.55 per hour, providing much-needed relief for workers across the province. per hour, implemented in 2019.

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What’s Keeping HR Up at Night in 2020?

HRExecutive

million in January 2019 to 6.8 You see this in particular when looking at tech companies on the West Coast that have massive turnover.”. Employee turnover harms nearly every part of an organization: Sales. The number of job openings in the U.S. fell from 7.6 million in January 2020, according to the Bureau of Labor Statistics.

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Retail Turnover Rates In 2021

DailyPay

The following article is another in our series that examines average employee turnover rates by industry. In this article, we hold the retail industry under a microscope to see what might be affecting employee turnover and retention rates, and why employees in this industry are seen coming and going so often. READ THE EBOOK.

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What You Can Do to Reduce Your Employee Attrition Rate

6Q

Today, employee retention is one of the most significant challenges plaguing many human resource departments. In addition to the wasted recruiting hours and training expenses, you should expend additional resources to fill the gap and train a new replacement. Recruiting the right talent is hard enough.

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How to retain and care for restaurant workers amid COVID-19 crisis

HR Digest

The restaurant sector is notorious for having one of the highest turnover rates, at 81.9 percent as of 2019. According to economists, the employee turnover rate in the restaurant sector was 62.6% We often view restaurants as a workplace wither fewer benefits and low wages. compared to a 42.4% rate in the private sector.