Payactiv

MARCH 22, 2022

Employee turnover rates are at an all-time high, which doesn’t bode well for businesses across all industries. In this article, we’ll spend some time understanding the concept of employee turnover, why it happens, and pre-emptive steps you can take to minimize it. What is Employee Turnover? Then, multiply that figure by 100.

Hiring Software 52

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Payactiv

APRIL 14, 2022

Here is how you can reduce employee turnover using financial wellness programs: 1. Thus it minimizes the likelihood of turnover. This can help employees avoid using their retirement resources to address financial problems. There are also automatic savings programs, health savings accounts, employee retention.

Hiring Software 52

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Payactiv

OCTOBER 24, 2022

High turnover rates are often linked to inadequate leadership. It’s not uncommon for people to leave a company and work for competitors that offer more attractive benefits and perks such as Earned Wage Access , paid time off and sick leave, retirement funding, health insurance, education support, or more flexible work schedules.

PayActiv 59

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Payactiv

DECEMBER 20, 2024

In this article, well examine the hard and soft costs associated with replacing an employee and explore some of the employee retention tactics you can adopt to avoid spending money unnecessarily in this manner. High Employee Turnover Costs Money People decide to move on from their current employers for various reasons.

Wage and Hour Training 52

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Payactiv

SEPTEMBER 6, 2022

High turnover rates are often linked to inadequate leadership. It’s not uncommon for people to leave a company and work for competitors that offer more attractive benefits and perks such as Earned Wage Access , paid time off and sick leave, retirement funding, health insurance, education support, or more flexible work schedules.

PayActiv 52

PayActiv Wage and Hour Training Retention and Turnover Planning Tools 52

Payactiv

MARCH 31, 2022

Many workers haven’t returned to work because they decided to switch careers in the pandemic, while others retired early. Surprisingly, nearly 2 million workers decided on early retirement during the pandemic, which has also contributed to the shortage.

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Payactiv

JULY 5, 2024

By providing financial wellness programs, companies can expect higher employee productivity, attendance, engagement, and retention. As a result, their focus is skewed toward financial topics like planning for retirement or refinancing a home loan. Low retirement plan enrolment rates. Few employees using direct deposit.

Hiring Software 52

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Payactiv

APRIL 12, 2022

According to a Gallup study , employee turnover costs US businesses a trillion dollars every year. Thus, there are a trillion reasons for organizations to care about keeping turnover to an absolute minimum. High Employee Turnover Costs Money. Some retire or move to another part of the country. million per year.

Wage and Hour Training 52

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Payactiv

APRIL 11, 2017

The fact is that most businesses are facing high employee turnover rates, and something has to be done. Benefits such as retirement plans, life insurance and legal services although important, do not meet the needs of all employees. This in turn creates a culture of loyalty and a virtuous cycle of growth and retention.

Planning Tools 52

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Payactiv

JUNE 28, 2024

To avoid high levels of turnover and maintain a happy, motivated, and productive workforce, you need to spot flight-risk employees sooner rather than later. Preventative Measures As part of their employee retention strategy , organizations should also take steps to avoid ongoing flight-risk situations.

Hiring Software 52

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Payactiv

APRIL 13, 2016

When brought to the workplace, this stress leads to escalating costs for the employer due to lower productivity and engagement, absenteeism, workplace injury, the rising cost of health insurance premiums, high costs of turnover, and attrition. Learn how Payactiv’s financial wellness program can work for your company.

HR Planning 52

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Payactiv

MARCH 29, 2022

Post-retirement health insurance. Reduce Staff Turnover. Employee retention matters to every business because recruiting employees is a time-consuming and expensive overhead. For tips on improving your employee value proposition and reducing staff turnover, read our blog. The Payactiv Payroll Card Option.

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Payactiv

MARCH 2, 2023

Financial Wellness Benefits Limit Stress and Turnover Among the 29% of employees currently looking for a new job, 65% cite money as their primary reason. Provide guidance on improving credit scores, reducing debt, and developing a long-term financial plan for retirement.

Planning Tools 52

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Payactiv

JULY 8, 2022

Too often, these workers miss out on the perks that come standard with full-time roles, such as disability and life insurance, paid time off and sick leave, dental and vision coverage, retirement funding, and educational aid. The post How to Recruit and Retain Manufacturing Industry Employees appeared first on Payactiv. A career path.

Industry 52

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Payactiv

NOVEMBER 19, 2024

For decades, many hourly workers have missed out on the kinds of employee benefits and perks that their salaried counterparts enjoyed, such as paid vacation time and sick leave, retirement and health insurance benefits, opportunities for career advancement, and flexibility in terms of the hours they work.

Retention and Turnover 52

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Payactiv

MARCH 1, 2022

At Payactiv, we believe that a well-considered, two-pronged hiring process is the way forward. Organizations need to reimagine their recruitment approaches and optimize their retention strategies. Is your industry one with a high turnover rate, such as one that employs hourly workers? The issue is complex and multi-faceted.

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Payactiv

OCTOBER 19, 2021

Happy employees also translate into lower levels of employee turnover, which means vacancies need to be filled less often. Other employee advantages or benefits include things such as health insurance, retirement contributions, paid leave, and health club memberships. Employment Advantages.

Wage and Hour Training 52

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Payactiv

APRIL 27, 2023

By adopting innovative benefits programs, employers can make a tangible impact on their workers’ well-being and boost productivity, retention, and customer satisfaction at the same time. This can include training on debt management, retirement planning, and investment strategies.

Assessment Software 52

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Payactiv

NOVEMBER 16, 2016

It will also help you understand the learning and retention abilities of employees. There are many wellness benefits you can choose to provide – retirement plans, financial literacy programs, emergency funding, investment programs, and so on. Try organizing a social event to break the ice. This is a sizeable amount.

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Payactiv

APRIL 6, 2016

The majority of the nation’s working population can be made better prepared for recurring expenses, unexpected financial events and retirement, if given the right tools. In turn, a more engaged workforce will be more productive, allowing businesses to experience greater retention and income. It doesn’t have to be this way.

Wellness 52

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Payactiv

MARCH 27, 2023

Everything you need to know about Healthcare Hiring Healthcare executives agree that the greatest challenge to hospitals and health systems in 2022 was a chronic staff shortage, fueled by industry-wide competition for top talent and high turnover rates. In 2020, hospital registered nurse turnover was 18.7% (U.S.).

Industry 52

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Payactiv

MARCH 22, 2022

The turnover rate near double creates the perfect storm. Healthcare systems are experiencing double-digit turnover rates and difficulty recruiting. While many healthcare recruiters blame the Great Resignation for the high turnover rates, it’s hardly the only culprit. Hiring is a multi-layered process. A quarter of U.S.

Industry 52

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Payactiv

JUNE 23, 2023

By adopting innovative benefits programs, employers can make a tangible impact on their workers’ well-being and boost productivity, retention, and customer satisfaction at the same time. Payactiv makes no representations as to the accuracy or completeness of any information on this site or found by following any link from this site.

PayActiv 52

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Payactiv

JUNE 8, 2021

Payactiv , a Public Benefit Corporation and Certified B-Corp, provides on-demand access to earned but unpaid wages. Businesses that partner with Payactiv to offer financial wellness services to their workforce see significant cost reductions through increased recruitment, engagement, and retention. Watch the chat here.

Hiring Software 52

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Payactiv

JANUARY 22, 2025

Having enough retirement savings to retire as planned (32%). Improved Engagement and Retention Money worries don’t just cause a decrease in productivitythey could also lead to lower levels of pay satisfaction on the part of workers, more absenteeism, and increased turnover rates. Ability to pay down debt (33%).

Planning Tools 52

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Payactiv

SEPTEMBER 5, 2024

Employee retention is an indication of an organization’s ability to retain a stable workforce. Over the last several years, employee retention has risen to the top of the business agenda in many industries. The latest data from the Bureau of Labor Statistics indicates that turnover is trending down in many industries in 2024.

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