7 Human Resources Stats Your Business NEEDS to Know
Employees are the most VALUABLE asset in any organization. Business owners know that finding and keeping the right people is critical to the success of their company. Study trends and statistics within your industry to see reasons why employees leave and focus on strategies to improve your companies’ environment and culture. This can help you not only retain more employees but create a much more positive work environment for everyone. Kmet Consulting cares about helping you with your business, so here are 7 human resources statistics that we think your business needs to know.
What does this tell you?
Keeping good employees can be tough. Do you have a program set in place that allows for employees to regularly submit issues they are having within the company? Do you survey your employees regularly to see “hidden” issues that you don’t see? Do you conduct an exit interview when people leave? Consider employee retention methods that have been proven to work.
What does this tell you?
Offering your employees more money to stay with you doesn't always work. Employees like a challenging and rewarding work environment, and Millennials would rather be happy with what they are doing for a living than be unhappy somewhere they are making more money. Are your people bored?
How are your screening methods when hiring new employees? Are you asking the right questions in the interview? Determining if someone is really right for the job is crucial to employee retention. Are you being honest about what is really included in the job responsibilities? New employees do not like surprises. Is your on-boarding training effective? Are expectations clearly set for the new employee?
What does this tell you?
It is essential that your company has a robust online presence. Many professionals use LinkedIn, for example, when searching for available positions or just to research the company. 40% of LinkedIn users use LinkedIn daily. Does your company have a professional Facebook page? Is your company website conveying the culture and atmosphere at your business? If not, it’s not too late to get started with business social media!
What does this tell you?
Prepare for every appraisal or review. It can reflect negatively on the employee, if you as a supervisor, are not thinking about their appraisal until the last minute. Your employees are valuable and if you don't treat them as such, they can leave. Put yourself in your employee’s shoes…how would you feel if the boss was not prepared?!
What does this tell you?
When is the last time you recognized one of your employees for doing an excellent job? Recognizing employees for their hard work not only provides a positive work environment but also give you better results. If your employees feel motivated, they are more likely to work harder for you. Make recognition meaningful and relevant. It’s easier than you think!
Kmet Consulting believes that your business is our passion. Our job is to understand your business. We believe there is no better way to address the needs of our clients than by learning about their employees. We consider ourselves not just consultants, but members of your team. Our aim is to develop a collaborative environment where we work together toward the same goal. We provide solutions to workplace issues that support and optimize the operating principles of your organization. If you are in need of our HR help, call our office at 877-783-5638. We are available to help you with any HR questions you may have.
7 Human Resources Stats Your Business NEEDS to Know
(Src.: empxtrack)57% of organizations view employee retention as a problem.
What does this tell you?
Keeping good employees can be tough. Do you have a program set in place that allows for employees to regularly submit issues they are having within the company? Do you survey your employees regularly to see “hidden” issues that you don’t see? Do you conduct an exit interview when people leave? Consider employee retention methods that have been proven to work.
69% of millennials would rather make $50 thousand a year at a job they love than $75 thousand a year at a job they think is boring.
What does this tell you?
Offering your employees more money to stay with you doesn't always work. Employees like a challenging and rewarding work environment, and Millennials would rather be happy with what they are doing for a living than be unhappy somewhere they are making more money. Are your people bored?
Companies that have formalized employee engagement programs have 26% higher annual revenue growth than those who don't have formalized engagement programs.
What does this tell you?
Engaging with your employees is essential. Are your employees engaging with each other or does the work environment prohibit your employee’s ability to bounce ideas off of each other? Do you have social events to allow your employees to relax and see the boss in a more informal environment? Engaged employees will breed success for your company.
22% of new hires leave their jobs within 45 days of being hired. Reasons include poor performance and temperament issues.
What does this tell you?
How are your screening methods when hiring new employees? Are you asking the right questions in the interview? Determining if someone is really right for the job is crucial to employee retention. Are you being honest about what is really included in the job responsibilities? New employees do not like surprises. Is your on-boarding training effective? Are expectations clearly set for the new employee?59% of job-seekers used social media to research a company's culture before applying. The use of social media for recruitment has grown 54 % in the past 5 years.
What does this tell you?
It is essential that your company has a robust online presence. Many professionals use LinkedIn, for example, when searching for available positions or just to research the company. 40% of LinkedIn users use LinkedIn daily. Does your company have a professional Facebook page? Is your company website conveying the culture and atmosphere at your business? If not, it’s not too late to get started with business social media!
1 out of 5 employees think their bosses don't even think about the appraisal until they are in the room.
What does this tell you?
Prepare for every appraisal or review. It can reflect negatively on the employee, if you as a supervisor, are not thinking about their appraisal until the last minute. Your employees are valuable and if you don't treat them as such, they can leave. Put yourself in your employee’s shoes…how would you feel if the boss was not prepared?!
78% of employees said being recognized motivates them in their job.
What does this tell you?
When is the last time you recognized one of your employees for doing an excellent job? Recognizing employees for their hard work not only provides a positive work environment but also give you better results. If your employees feel motivated, they are more likely to work harder for you. Make recognition meaningful and relevant. It’s easier than you think!
Need Help Retaining Your Employees?
Kmet Consulting believes that your business is our passion. Our job is to understand your business. We believe there is no better way to address the needs of our clients than by learning about their employees. We consider ourselves not just consultants, but members of your team. Our aim is to develop a collaborative environment where we work together toward the same goal. We provide solutions to workplace issues that support and optimize the operating principles of your organization. If you are in need of our HR help, call our office at 877-783-5638. We are available to help you with any HR questions you may have.
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