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The Job Market Continues to Tighten, but Wage Growth Remains Flat

The Job Market Continues to Tighten, but Wage Growth Remains Flat

  On Friday, we learned that US employers added a whopping 220,000 jobs while wage growth for hourly workers continued to remain below trend at 2.5% compared to last June.  This is a remarkable time for the labor market. Since October 2010, the U.S. has added jobs every single month. That’s 81 consecutive months. Yet, …

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Hiring May Get Even Harder Thanks To Jeff Bezos

Hiring May Get Even Harder Thanks To Jeff Bezos

Current Hiring Landscape It’s hard enough to fill open positions. According to the Bureau of Labor Statistics, the number of open job posts representing unfilled positions is at an all time high. The fundamental reason why it’s so hard to hire is because of stagnant wage inflation. And the reason for this lack of wage …

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3 Steps to Improve Employee Loyalty

3 Steps to Improve Employee Loyalty

  Employee loyalty is more important than ever. The current labor market is considered uncomfortably tight – a situation that creates an excess need for workers. This makes it difficult to hire for open positions and makes it increasingly expensive to lose valued employees. Employers should follow these three steps to improve employee loyalty.   Step …

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4 New Employee Benefits Trends For 2017

4 New Employee Benefits Trends For 2017

  New dynamics in a modern workforce mean new employee expectations for benefits and perks. These new employee benefits requests are unlike a typical portfolio filled with standard PTO, healthcare and retirement options. 2017 is all about harmony and customization. Early adopters of unconventional benefits programs may have an advantage over their competition and in …

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Employee Loans and How They Work

Employee Loans and How They Work

  Financial insecurity can be a productivity killer. Employers who offer empathy toward employees in need of financial assistance can boost employee loyalty and overall workplace engagement. A 2016 financial education survey, conducted by the International Foundation of Employee Benefit Plans, suggested that financial stress increases absenteeism, tardiness, and disengagement. 60% of respondents who feel …

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What Is The Average Employee Retention Rate by Industry?

What Is The Average Employee Retention Rate by Industry?

  Attrition has always been expensive for companies, but in many industries, the cost of losing good workers is rising, thanks to increasingly tight labor markets. This makes measuring employee turnover more important for employers. How can you gauge if you’re spending too much on employee turnover? What is the average employee retention rate? The …

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What Is Employee Retention and What Factors Contribute to It?

What Is Employee Retention and What Factors Contribute to It?

  Employee retention refers to an organization’s ability to keep its employees. Employee retention is usually represented as a percentage. For example, an annual retention rate of 80% indicates an organization kept 80% of its employees that year and lost 20%. It’s natural for organizations to experience turnover. On average, a 10% annual turnover rate, …

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What is a Paycheck Advance and How Does it Work?

What is a Paycheck Advance and How Does it Work?

  Financial emergencies arise in all of our lives. From an unexpected medical payment to an auto emergency, if you’re unprepared for these “surprises”, they can be stressful. When someone is short on cash, they have limited options to turn to for assistance. According to the American Management Association, only 17% of Americans can turn …

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What is an Employee Net Promoter Score (eNPS) and How Does it Impact your Bottom Line?

What is an Employee Net Promoter Score (eNPS) and How Does it Impact your Bottom Line?

  The long-term success of any company depends on the loyalty workers have to an organization, and the productivity that occurs because of their loyalty. Many organizations realize there is a direct link between turnover, loyalty and bottom line. The biggest way loyalty impacts costs is through turnover – and the true cost of turnover …

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