A “First of its Kind” PFML Plan launches in New Hampshire
Beginning in December 2022, employers can start enrolling in New Hampshire's new voluntary Paid Family and Medical Leave plan for employers and employees of all types of businesses.
Employee turnover.
You may have come across it in your payroll career, or even naturally while you’ve been a member of the U.S. workforce. Some businesses are inundated with turnover, while others are not. Here’s our examination:
Employee turnover is a measurement of how long your employees stay with your company and how often you have to replace them. Having a high rate of it hurts your company’s bottom line. It’s estimated that it takes twice a departing employee’s salary to find and train a replacement.
Turnover happens within the U.S. working population – in any and all industries. A certain amount is unavoidable due to various reasons, such as: retirement, moving away, going back to school, prolonged illness, or other reasons that result in a person leaving the workforce.
Turnover can happen out of the blue, or there can be a good deal of foreshadowing. Some indicators of it include:
Losing employees to certain factors is 100% avoidable. Consider these practices when trying to thwart turnover:
How do you handle turnover in your company?