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Tag: Employee Retention

Employee retention refers to the ability of an organization to keep its employees. Employee retention can be represented by a simple statistic; however, many relate employee retention to the efforts employers use in an attempt to retain employees in their workforce. Employee retention is usually represented as a percentage. For example, an annual retention rate of 80% indicates that an organization kept 80% of its employees that year and lost 20%.

It’s natural for organizations to experience turnover. Also, some industries are prone to higher turnover rates than others due to wages, difficulty of work, and benefits they traditionally offer to employees. These industries include:

  • Staffing – 352% turnover rate
  • Cleaning professionals – 75-400% turnover rate
  • Logistics – 50% turnover rate
  • Call centers – 33% turnover rate

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      Great Content as Soon as it’s Published

      Featured Resource

      resource

      How COVID-19 Accelerated the Critical Need for a Pay Benefit

      Realizing the Positive Impacts of a Global Crisis to define the Future of Pay

      Topics

      ADP Attrition Rate CFPB EWA constructive receipt coronavirus CORONAVIRUS RELIEF COVID-19 DailyPay daily pay daily pay benefit dailypay life Earned Wage Access Employee Attrition employee benefits Employee Experience Employee Retention Employee Turnover Financial Wellness Flexible Pay generation z healthcare industry payroll hospitality industry payroll hr trends Instant Pay money management Off-Cycle Payments on-demand pay On-demand pay digital wallet On Demand Pay on demand payment solutions Paycheck Advance Payday Loan Pay Experience Payroll payroll benefits payroll costs QSR industry Recruiting Recruitment reduce turnover Retail Industry Trends saving money staffing industry turnover rate voluntary benefits

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    Employee Retention

    Attraction and Retention: What Can We All Learn From Hig …

    Attraction and Retention: What Can We All Learn From Hig …

    A panel of HR professionals at the HR Insight Summit 2019 discussing: The issues industries such as [...]

    Staffmark Group Partners with DailyPay to Improve Recrui …

    Staffmark Group Partners with DailyPay to Improve Recrui …

    Staffmark Group joins the list of innovative companies that are offering an on-demand pay experience to [...]

    [Webinar] 5 Ways DailyPay Helps with Employee Retention  …

    [Webinar] 5 Ways DailyPay Helps with Employee Retention …

    For many companies, retaining loyal employees and minimizing turnover can be a challenge. And in industries [...]

    3 Lessons Learned at ADP Meeting of the Minds

    3 Lessons Learned at ADP Meeting of the Minds

    DailyPay was excited to attend ADP’s Meeting of the Minds (MOTM) in Las Vegas earlier this month. It was [...]

    Healthcare Turnover Rates in 2018

    Healthcare Turnover Rates in 2018

    In our previous article, we discussed employee retention rate by industry and looked at which [...]

    Turnover And Retention Rates For Hotels And The Hospital …

    Turnover And Retention Rates For Hotels And The Hospital …

    In our previous article, we discussed employee retention rate by industry and looked at which [...]

    Turnover And Retention Rates for Millennials In The Work …

    Turnover And Retention Rates for Millennials In The Work …

    In our previous article, we discussed employee retention rate by industry and looked at which [...]

    Turnover And Retention Rates for QSR Businesses

    Turnover And Retention Rates for QSR Businesses

    In our previous article, we discussed employee retention rate by industry and looked at which [...]

    Better Employee Recruiting With An Employee Value Propos …

    Better Employee Recruiting With An Employee Value Propos …

    The term “war for talent” was coined by McKinsey’s Steven Hankin in 1997 and popularized by [...]

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