People Analytics Lessons for Financial Services Leaders

Visier - Talent Acquisition

Beyond the traditional sources of intangible value—software, intellectual property, “goodwill” from acquisitions, etc.—is People analytics helps firms understand the sources and nature of this value, enabling its preservation and growth.

Improve Retention with Employee Referrals

EmployeeReferrals.com

Research indicates 26% of external hires are generated from employee referrals , making it the top source of new hires. Also, 82% of organizations rate employee referrals above all other hiring sources for generating the best ROI.

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Expert Tips for Recruiting and Retaining Chief Financial Officers

Recruiting Daily Advisor

But fear not, we’ve got an expert who is sharing some tips to help you recruit and retain a Chief Financial Officer (CFO). Source: El Nariz / Shutterstock. Herrerias: CFOs cite having a close relationship with CEOs, bonding with the leadership team, being perceptive of personal and professional growth, and feeling responsible for their organization’s success as key factors influencing their retention in and commitment to an organization.

People Analytics Maturity Linked to Better Financial Performance, Research Shows

Visier - Talent Acquisition

Let’s dive deeper into Marler and Martin’s research, and how organizations can use the findings to increase financial success. People analytics maturity is key to higher financial performance.

Hard to Hire: Third-Party Recruiting & the State of Talent Acquisition Report

agencies sourcing talent on their behalf. AS SOURCE 49% SOCIAL. candidates as a sourcing. Some top benefits seen by those respondents that worked with this sourcing option before: Hiring Managers were split. third-party recruiters – they handle sourcing so you.

Harnessing the Power of Immersive Learning for Employee Retention

Recruiting Daily Advisor

High churn rates were already a concern due to financial implications (replacement costs typically range from one-half to two times an employee’s annual salary) and their known detrimental effects on operational longevity and customer service/experience.

Turn Employee Retention into a Talent Advantage

Recruiting Daily Advisor

Source: KatarzynaBialasiewicz / iStock / Getty. Employee retention begins by creating a more compelling experience for every worker. What follows are three retention strategies that can keep the most valuable workers on board, engaged, and productive. #1: To fight turnover, employers must prioritize education and training in their employee management efforts, as well as accept the time and financial investment needed to provide it. Competition for talent is fierce.

Talent Retention: Understanding What Makes 3 Generations of Workers Tick

Recruiting Daily Advisor

Source: Rawpixel.com / Shutterstock. Financial necessity is the main driver of this preference. The post Talent Retention: Understanding What Makes 3 Generations of Workers Tick appeared first on Recruiting Daily Advisor. Employee Retention Internal Recruiting & Workforce Planning AI automation Baby Boomers Gen Z Generation Xers HR Millennials Retaining Top TalentLook around your company. What do you see? Is everyone around you roughly the same age?

15 Actionable Employee Retention Strategies You Can Use Today

Plum.io

Nearly 70% of organizations report that staff turnover has a negative financial impact due to the cost of recruiting, hiring, and training a replacement employee and the overtime work of current employees that’s required until the organization can fill the vacant position ( BLR ). Per Peter Economy , full-time ghostwriter and best-selling author, “The secret to unlocking this unlimited source of energy for your company is to build and strengthen the bonds between you and your employees.

Recruitment from Unlikely Sources: Exit Interviews

Hospital Recruiting

When you think of recruitment sources for your institution, exit interviews rarely come to mind. Turnover is costly in more ways than financial for healthcare providers. Recruiting Tips & Employer Resources Candidate Sourcing Employee Turnover Exit Interview RetentionBrijith Vijayan/123RF.com. These are employees on their way out – not their way in. What possible value can the information provided during their exit interview give the recruitment side of HR?

Salary Transparency in the Workplace: How it Affects Recruitment and Retention

Recruiterbox

Pay employees too much, the company might not be profitable enough to stay financially viable. Employee Mobility, Employee Entrepreneurship, and Effects on Source Firm Performance , business professors Benjamin Campbell , Martin Ganco , April Franco and Rajshree Agarwal found that employees often weigh pay differentials among their coworkers more heavily than differentials in the labor market. blog hiring retention salary

2021 HR Trends – From Direct Contingent Sourcing to Virtual Onboarding

Avature

2021 is shaping up to be the year of boom or bust for many organizations when it comes to hiring and sourcing activities. Trend #4 – Direct Sourcing Contingent Models Help Organizations Save Big. One such model is the direct sourcing /contingent talent marketplace approach.

The 5 Best Voluntary Benefits to Offer Your Employees

Recruiting Daily Advisor

Source: garagestock / shutterstock. With “paid” paid time off, the financial stress of going on vacation is reduced while employee retention is boosted through incentivizing staff to stay long term. Today, it’s normal for people to spend 40+ hours a week working.

5 Ways to Attract and Retain Alternative Workers

Recruiting Daily Advisor

Source: iQoncept / Shutterstock. Alternative workers are able to source out new jobs based on their connections, and these workers communicate about what it’s like to work for a particular employer. Retention Strategies. Support financial wellness.

Fostering Hiring and Finance Team Collaboration During Times of Constant Change

ClearCompany Recruiting

Maintaining employee engagement and retention through it all by properly planning for and communicating career progression and growth opportunities to existing staff. Develop a System of Organizing and Sharing Your Pertinent People and Financial Data.

Embrace Talent Diversity in Your Sourcing Strategy

Entelo

Countless studies have shown that diversity initiatives improve morale, corporate culture, employee retention and recruitment , all of which increase a company’s competitive advantage. It makes sense that hiring can come down to the quickest and easiest solutions to source good-enough candidates, but that means you’re missing out people from beyond your typical search pattern and network. It's no secret that many companies struggle to nurture and promote diversity.

Employee Turnover: How to Keep Employees from Leaving After an M&A

Recruiting Daily Advisor

Source: Vitalii Vodolazskyi / Shutterstock. Here are six actionable tips to consider when facing an M&A while navigating the risks involved in employee retention: 1. Offer A Retention Agreement or Incentive. Employee retention is a struggle for many companies.

High quit-rate problem? You can fix that.

Recruiting Daily

As Americans continue to take advantage of a tight labor market to search for better- paying jobs, retention has become a serious concern for all companies. With healthcare, financial services, transportation and warehousing leading the way, 3.5 Blog Posts Featured News churn hiring quit rate quitting jobs Recruiting Sourcing talent management turnover

5 Biggest Challenges Modern Recruiters Face

Social Talent

Source: Gratisography. This means meeting at regular intervals to discuss requirements for the role, preparing interview questions together, deciding on tactics to source the best candidates and continually tweaking criteria. Communication is paramount throughout and what will really solidify this relationship is insightful discussions on data around best channels for sourcing, number of applications, application/interview ratios etc. Source of Applicants.

How to Retain Young Talent in a Job-Hopping Culture

Recruiting Daily Advisor

Source: WindAwake / shutterstock. In addition, Gen Z is hyperaware of three financial truths: College was enormously expensive, they’re on the hook to provide for their own retirement, and they don’t want to be stuck in traditional 9-to-5 jobs. Because Gen Z is the future of the workforce and the likeliest to change jobs frequently, gear your retention efforts toward this youngest generation. Support Financial Wellness.

Why Now Is the Time to Invest in People

Recruiting Daily Advisor

And by 2010, few employers had a retention plan. Source: Rawpixel.com / Shutterstock. It’s an intuitive reaction, but these short-term decisions could have long-term negative financial repercussions in the form of voluntary turnover.

Why you should prioritize workplace stress management during the pandemic

Workable

Unfortunately, as you know, numerous businesses around the world were forced to resort to layoffs due to unresolveable financial struggles. Plus, based on another source 50% of millennials and 75% of Gen Zers have left a job due to mental health reasons.

An Introduction to Hierarchical Pay Raise Strategies

Recruiting Daily Advisor

Source: Arthimedes / Shutterstock. By some measures , for the average American company, spending between 20% to 30% of revenue on payroll puts them on fairly good financial footing, other factors aside. Unless a company in such a situation is increasing its revenue by at least that much, it’s going to soon be in financial trouble. Employee Retention HR Performance Management Making Hierarchical Moves Pay Matters Source Arthimedes Shutterstock

5 Biggest Challenges for HR Leadership Teams

Achievers - Recruiting

Improving employee retention. When company leaders do audits to figure out the source of financial leakage, employee churn will always show up as an expense to be reduced. However, executives may be feeling a financial pinch, and it might hard to get executives on board with an employee recognition and rewards program. Human Resources (HR) is a complex profession (but that’s what you like about it, right?) and the challenges you face come from many directions.

How to make the most of HR analytics [Tips & Strategies]

Devskiller

Human Resource analytics, among others, helps improve talent retention and positively impacts hiring decisions. For this purpose, statistical methods are applied to integrate HR, talent management, financial, and operational data. HR data analytics improves retention.

Compensation Wins Talent, Recognition Retains It

Achievers - Recruiting

In short order, this financial windfall simply becomes their new normal. Image Source. However, arguably the biggest benefit of recognition is the impact it has on retention. Recognition is the secret to retention but don’t keep it secret any longer within your organization.

Why the Gig Economy May Be Stealing Your Permanent Workforce

Recruiting Daily Advisor

Dreams of flexible schedules, the ability to work remotely, and building new skill sets while working for multiple companies—at the same time—are all real reasons why full-time workers are choosing to turn to the gig economy as a main source of employment. iCIMS reports that 40% of respondents have been working in the gig economy for more than 5 years, with 70% of gig workers relying on this arrangement as their sole source of income.

How To Make Sure You Know Exactly Who You’re Hiring.

Recruiting Daily

This epidemic seems endemic across functions, with financial services (73%) hospitality (71%), tech (63%) and healthcare (63%) ranking among the industries most likely to have encountered someone lying on their resume. Blog Posts Candidate Sourcing News Resources Trends employee retention Job Seeker matt charney prescreening Recruiting Advice Recruiting Industry Resume Advice TipsAs the ousted former CEO of Yahoo! ,

Job Hopping Remains Common, But Do You Know Why?

Recruiting Daily Advisor

Source: Mascha Tace / Shutterstock. Instead of losing your best and brightest workers to your competition, you must have an employee retention strategy in place. The 2019 Talent Retention Report features survey data from 1,171 active and passive jobseekers using iHire’s platform. Offering employees the ability to grow in their careers is a great retention strategy, and it can also impact the company’s bottom line.

CFOs Asked to be Corporate Strategists as Technology Increases Impact

Recruiting Daily Advisor

Over the last few posts Managing Director of Stanton Chase, Paul Herrerias, has joined us to discuss some best practices for recruiting chief financial officers (CFOs) and how you can retain this new hire through great onboarding. Source: Den Rise / Shutterstock. The leading candidates stress their desire to shift from being financially-focused silos to playing an integral part on the leadership team.

Why Glassdoor Candidates are Quality Candidates

Glassdoor for Employers

Hires who use Glassdoor have a 30% greater retention rate. (7). These days most companies know how important diversity is — after all, diversity can boost innovation , productivity and even financial performance. Sources: Aptitude Research Partners Informed Candidate, 2017, US/UK.

Arguments in Favor of Hierarchical Pay Raises

Recruiting Daily Advisor

We currently find ourselves in a tight labor market with relatively low unemployment, and employees consistently list financial compensation as one of the primary factors in accepting and staying at a job. Source: Andrey_Popov / Shutterstock. In our previous post, we noted that financial compensation is a key factor in employee decisions on where to work. Financial. Employee Retention Performance Management Performance Incentive Retaining Top Talent

Optimistic Employers Embrace Benefits for Talent Attraction

Recruiting Daily Advisor

Source: GrafVishenka / iStock / Getty. However, despite many reasons to be positive, employees and employers continue to have healthcare financial concerns. However, despite the all-around positive feelings around benefits, the AWR research also shows that employers and employees have work to do to promote better educated, more financially sound health care benefits decisions.”. Financial Impact Can Drain. 2017 saw job satisfaction among U.S. employees fall.

Growth and Development through Global Experiences

Recruiting Daily Advisor

Source: studiostoks / Shutterstock. In fact, according to data from PwC, 72% of Millennial workers in the financial services industry are eager for overseas assignments. That threatens to leave companies with major retention problems. Richard Burke, CEO at Envoy Global , a company that helps immigrants get jobs in the United States and globally, discussed how companies can improve retention by offering global experiences to younger employees.

7 Ways to Improve Workplace ‘Experience’

Recruiting Daily Advisor

Source: Black Salmon / Shutterstock. Offer flexible work arrangements and schedules, child care , postsecondary education plans, mental health, financial health programs, etc. . Candidate Experience Employee Retention Engagement Career Development Employee Appreciation Employee Experience feedbackAs we know, a good candidate experience is great for business, however, your “experience” efforts shouldn’t stop with the jobseeker.

Want to Attract Recent College Grads? Try Offering This Trendy Benefit

Recruiting Daily Advisor

Job boards are the third most-likely source (35%) for young people searching for a job. If you’re looking to attract college graduates, one perk/benefit you should definitely consider offering is student loan repayment or some other financial benefit that helps this demographic knock down some of their debt. Student loan repayment is also standing in the way of long-term financial planning.

How to Improve the Sale Value of Your Recruitment Business by Retaining Your Best Recruiters

RecruitmentJuice

Not only are there financial repercussions, but losing your best performers can also lower the knowledge base in your company as well as decrease team performance and morale, including your own. Be a source of strength and confidence to your management team: Don’t share your business problems with them. Leadership Recruitment Staff Retention hiring leadership recruitment recruitment tips success

Laid Off Workers: How to Recruit This Overlooked Talent Pool

Recruiting Daily Advisor

Source: Andrey Popov / Shutterstock. Berke suggests that in order to quell these fears, employers must focus on their employees’ wellness—both financial and physical wellness—as well as provide an amazing company culture. Others may have just started and do not have a financial safety net to fall back on. Candidate Pools & Proactive Recruiting Employee Retention candidates Hiring Process job search questions tips

9 Intriguing Social Recruiting News Stories – 6th July 2015

Social Talent

Also not among the Top 5 sources in 2006, company career sites are today how 10% of the survey’s responding job seekers found their last job. While some of the results of this survey echo other surveys, including the annual Source of Hire survey compiled by the recruitment consultancy CareerXroads and another from HR software vendor Silkroad, Zappe noted however, that it would be a mistake to read too much into the results.

Onboarding Key to Integrating New CFO into Culture of Organization, Expert Says

Recruiting Daily Advisor

In yesterday’s post , Managing Director of Stanton Chase , Paul Herrerias, joined us to discuss ways to recruit and retain chief financial officers. Source: ShutterOK / Shutterstock. Herrerias: In all cases, the greatest responsibility for the CFO is that of organizational sustainability—in financial health, customer loyalty, employee morale, culture, values, and marketplace brand.