Work: Which companies throw “gold” at the feet of their employees

The employees of a business or company are their backbone and logical and logical, they try to keep them as much as possible. Gallup, an annual global workplace survey of workplaces, found that by 2023, workers who are not engaged or actively engaged will cost the world $8.8 trillion by 2023. Dollars lost productivity, corresponding to 9% of global GDP.

The same survey found that 52% of employees were seriously considering changing jobs in the previous year.

But an employee leaving the company translates to both time and money. According to the Bureau of Labor Statistics, 26.3% of people in the United States resigned in 2017. The cost to replace an individual worker ranges from half to twice the worker’s annual salary, a conservative estimate, Gallup said.

Companies that give “land and water” to keep their employees

Many big companies around the world offer luxurious packages with many benefits in the hope of retaining their employees. According to Resume.io’s research, two companies that stood out in 2023 Conocophillips (Initially an average stay of 10.6 years per employee) and Altria, Chevron and Union Pacific (Average 9.3 years for all three).

ConocoPhillips, Alaska’s largest crude oil company, attracts new talent through college scholarships and offers returning military personnel “challenging and rewarding programs around the world.”

The Altria Group (formerly Philip Morris Companies), known for brands such as Marlboro, owns major stakes in Belgian brewer AB InBev and global cannabinoid company Kronos Group.

Actively phasing out tobacco products, Altria offers comprehensive benefits to its employees, including a profit-sharing plan, financial assistance for those who wish to pursue fertility treatments or surrogacy, and benefits such as cafeterias, gyms, and medical facilities. centers and hair salons within the corporate premises.

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Britain, Australia and Canada have their own big players

In Britain, it stands out Bunzl, a supply chain, employees stay an average of 10.2 years. The company offers its employees an excellent benefits package, including discounted stock and tuition assistance of up to $11,000 per year for graduate studies.

Australian company Bluescope Steel Maintains over 8,000 employees and contractors across 35 sites and has one of the best employee retention rates in Australia (9.7 years). The company recently scored a big hit with employees by offering personalized gift cards in recognition of a tough but beneficial pandemic period.

Based on the same survey, Canadian insurer Great-West Lifeco leads in Canada and the four countries surveyed by Resume.io, retaining employees for an average of 10.8 years. Much of this success appears to be due to the company’s Chief Human Resources Officer, Grace Palombo, who was named one of 2018’s 100 Most Powerful Women in Canada.

Resume.io’s research uses employee profiles on Linkedin to derive its average.

Salesforce, Hyatt Hotels and Pfizer

Dropbox, Hyatt Hotels and Pfizer are other companies well known for their employee benefit packages. According to consulting firm Ignis, hosting services company Hyatt Hotel It has more than 75,000 employees in the United States who have been employed for ten years or more. An average cleaner stays with the company for 12 years.

Hyatt Hotels focuses on developing and motivating employees from within. It’s a strategy that has seen the hotel chain grow steadily, unaffected by the industry’s classic problems of high churn and seasonality.

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Hyatt is mitigating this problem by including housekeeping staff — an employee group that typically has the highest turnover rates in hospitality — in its employee engagement strategy.

Continuous development, promotions and internal movement opportunities before they leave

Hyatt employees receive tangible benefits such as travel discounts, free or reduced-price on-site meals, and tuition reimbursement. It even works with organizations like Khan Academy to upskill its employees and give them more career opportunities when they are ready to leave. It offers an excellent training program, recruits and motivates from existing employees.

Hyatt’s employee retention strategy focuses on all employees, not just those in corporate or executive roles.

H Sales force, a cloud computing services company, offers 56 hours of paid leave so its employees can do volunteer work in their local communities. It offers a generous matching policy of up to $5,000 per year for employee donations to causes that matter to them.

The Pfizer It also operates a defined benefit pension plan in which the amount of money paid into the pension of its employees is based on the number of years they have worked for the company and the salary they earned when they leave or retire. It pays its employees a secure lifetime income that increases annually in line with inflation, encouraging employees to stay with the company for as long as possible.

In contrast, other companies faced serious problems in the age of social networks.

Source: ot.gr

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