Skip to main content

Attraction & Retention Newsletter - Q3 2023

Attraction and Retention Newsletter Quarter Three 2023Attraction and Retention: stay up to date on trends, challenges and tips

Each quarter, the Attraction and Retention newsletter offers statistics about the employment market, suggestions on securing top talent and insight to attract and retain workers.

The third quarter edition explores:

  • current labor market trends;
  • how to use mentorship to bolster employee retention; and
  • pay transparency.

Since retention plummeted in 2022, employers continue to find themselves needing help attracting and retaining talent in this tight labor market. However, not all labor challenges are equal across all industries or positions. For example, finance and insurance industry job openings are increasing while nondurable goods manufacturing show a downward trend.

To navigate today’s work environment, it’s more crucial than ever that employers stay up to date on the current employment landscape and the needs and desires of workers.

Download your copy of Attraction and Retention today to stay up to date on trends, challenges and tips to navigate economic uncertainty and ever-changing employee desires.

For more information about employee benefits, our services and products, contact HANYS Benefit Services by email or call 800.388.1963.

This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2023 Zywave, Inc. All rights reserved.

Popular posts from this blog

Employee Benefits Offerings: What Perks Can You Add?

Employee benefits can play a crucial role in attracting and retaining top talent. Beyond compensation and bonuses, offering a variety of perks can significantly enhance employee satisfaction and productivity. But what should you include in your employee benefits offerings?   What are employee benefits?   Employee benefits encompass compensation, bonuses and various perks outside an employee's wage. By offering flexible employee benefits, you can improve employee productivity and loyalty while attracting and retaining talented candidates.   Personalized benefits examples   The type of benefits offered can vary by industry. We've compiled some of the most popular options to help you explore possible employee benefits strategies .  1. Social opportunities   Employee perks don't always have to be tied to a benefits package. Sometimes, the best way to engage your employees can be through social opportunities. Group activities can help im...
Read more

What is Risk Management? 4 Key Topics to Know

Understanding risk management in retirement programs  Managing a retirement program is complex, with multiple layers of risk. For organizations and their leadership, understanding and mitigating these risks is crucial to ensuring the long-term success and reliability of these programs.   It often leaves human resource professionals, employers and program administrators questioning, "What is risk management, and how can we excel at it?"  This blog post explores the various aspects of risk management in retirement program administration and provides actionable insights to help organizations better manage these risks.  The importance of risk management  Retirement programs are designed to benefit participants and beneficiaries, but they come with their own set of risks. These risks can be broadly categorized into four main topics:  Fees  Administration  Investments  Cybersecurity  Each of these topics requires meticulous attention and ...
Read more

Innovative employee retention strategies: 9 fresh ideas

Employee engagement and retention are pivotal in every sector, but they carry even more weight in the not-for-profit space, where resources are often limited. High turnover can be both costly and disruptive, impacting productivity and damaging morale. In an era of workforce evolution, to effectively retain their top talent, organizations must explore innovative employee retention strategies that go beyond conventional methods.  Engaged employees are distinguished by their higher productivity, motivation and loyalty, and they are more likely to stay with a company for the long term. Gallup recently updated its research article, The Benefits of Employee Engagement , finding that "low engagement teams typically endure turnover rates that are 18% to 43% higher than highly engaged teams."  In addition to turnover, disengaged employees negatively impact a company's financial health, with turnover costs averaging six to nine months of the departed employee's salary, accordin...
Read more