Retention

Virginia bank creates family atmosphere

09/13/2011

Employees of Monarch Bank work at cubicles so huge that they call them “Taj Ma-cubes.” Every President’s Day, they celebrate “Monarch Day” with training sessions and an awards ceremony. And last year, their bonus checks were 30% bigger than the year before. Result: Employees stay.

In hot economy, onboarding takes on vital role

09/06/2011

Employees have options these days, and they’re more willing to leave a job that doesn’t seem like a perfect fit—even if it’s during the first few months. That means your onboarding process is more important than ever.

No-raise promotions: A handy tool, but beware risks of ‘title fluffing’

08/11/2011

While salary budgets are up this year—merit raises are running near 3.0% compared with 2.7% in 2010—some still-skittish employers are more likely to dole out title raises rather than extra cash. The danger: Organizations may give gratuitous no-pay promotions instead of using the practice as a selective reward and retention strategy.

Employee relationships help Maryland firm retain workers

07/28/2011

Nearly 40 employees of the real estate development company Bozzuto Group met, fell in love and married their spouses while both were working at the firm. It could be why so many of its workers refer their friends and family members as possible co-workers. Plus, the 23-year-old company has one of the lowest turnover rates in the industry,

One-on-one counseling helps employees understand benefits

07/19/2011

On average, 30% to 40% of an employee’s total compensation is wrapped up in benefits. Unfortunately, employees often have no idea that’s the case. The most effective way to make sure employees really understand the benefits you offer, their value and why they’re a great deal is to tell them face-to-face.

Face-to-face counseling helps employees grasp benefits

06/27/2011

On average, 30% to 40% of an employee’s total compensation is wrapped up in benefits. Unfortunately, that information is often invisible to employees. The most effective way to make sure employees really know about the benefits you offer, their value and why they’re a great deal is to tell them face-to-face.

Want real employee feedback? Use a focus group

06/15/2011

Employee focus groups are a good way you can uncover issues affecting productivity and retention. Use the following steps to organize your focus groups without excessive red tape or cost:

What will you decide: keep or drop employee health benefits?

05/20/2011

Most employers are not considering canceling health benefits as a result of the year-old health care reform law, according to two recent surveys. The Affordable Care Act may be politically unpopular, but employers assume that it will be a business fact of life for the foreseeable future.

Walmart finds jobs for military employees on the move

05/13/2011

Walmart employees who also are in the military or are married to military spouses can keep their jobs, even if their service requires them to move to another part of the country. The 9,000-store chain has guaranteed its 2 million employees that it will find a local job for them if the military transfers the family to a new location.

Celebrating small wins helps firm with retention

04/08/2011

It doesn’t hurt that accounting firm Grant Thornton offers flexible work schedules, commuter spending accounts, dependent care and an employee assistance program. But execs there attribute the organization’s culture of long-term retention to what they consider a family-like environment at their branch offices.