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Beware The Turnover Spike
Posted by Insightlink on 07/17/14
There is never a dull moment in the employment cycle. A current example shows that in the U.S., unemployment rates are declining while turnover rates are escalating. Some researchers are actually predicting turnover rates are going to ‘spike’ in the U.S. this year, as more people are back to work and feeling more confident about their futures and job prospects. Consulting firm Accelir surveyed human resource professionals and corporate leaders in the summer of 2013 and published a paper titled “Rewards and Recognition: 2014 Trends Report”.
Three trends in reward and recognition programs include:
Early Service Rewards
In conclusion, employee engagement impacts turnover rates and given that engagement levels are at an all-time low, it is not surprising that companies are looking to revamp their recognition programs. Trends such as early recognition, developing a recognition culture and incorporating social media must be considered in the planning process to increase productivity and decrease turnover rates.
AboutInsightlink Communications are experts in employee survey design, data collection and analysis. Since 2001 we've helped companies of all sizes measure and improve their employee satisfaction and engagement.
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