employee retention Tag

How to Apply Equity Theory to Improve Employee Engagement

As adults, we all need to go to work. And there are quite a few motivators forcing us to get out of bed and head to the office every workday. We may be motivated by some external factors – praise from others, our paycheck, etc., and we may be motivated by internal factors – personal satisfaction for a job well done, the desire to perform well, even without recognition, etc. But according to John Stacey Adams, a behavioral psychologist who...

8 Employee Retention and Recognition Ideas for SMEs

Employee retention may seem costly for a lot of SMEs. But did you know that employee turnover costs your business even more? A recent study conducted by the Center for American Progress estimated that: [edgtf_unordered_list style="circle" animate="no" font_weight=""] It costs 16% of the annual salary to replace an employee at a high-turnover, low-paying (under $30,000 per year) job. Replacing a $10/hour sales assistant, for instance, will cost your business around $3,300. Replacing someone on a midrange position (earning $30,000 to $50,000 a...