Diversity and Inclusion Will Help Curb Employee Turnover

Employee turnover is a problem that all companies face, some more than others, but it is also something that can be corrected. Depending on the turnover issues at your company, the fix can range from easy to incredibly difficult. Companies looking to curb employee turnover should fix the diversity and inclusion issues that plague their organizations.

Read on as we discuss how these two items, once improved, will help reduce employee turnover at your company.

Lack of Attention Causing Turnover

According to the results of a 2015 survey conducted by Korn Ferry, companies blame employee turnover on the lack of attention to inclusion and diversity within the workplace. Of the close to 700 companies that responded to the online survey from January 27 to February 2, 84 percent of them said that, “lack of attention to these two items are causing employee turnover issues at their organizations.” Some 70 percent of the survey’s respondents noted that they, “have inclusion and diversity programs in place and active for employees.” Close to 72 percent of respondents said that there is, “a conscious effort in place at their companies to create a diverse culture of inclusion.”

Do Programs Enhance Employee Retention?

The same survey found something very interesting when it asked participants if their programs actually enhance employee retention. Of the close to 700 respondents, only 56 percent of them believe that the programs they have in place actually enhance employee retention. To go even further into the responses of the participants, the survey found that 42 percent of companies feel that there is an unconscious bias present within their employee ranks when it comes to diverse backgrounds regarding sexual orientation, religion, gender and race.

Does Your Company Have Diversity and Inclusion Issues?

It is a good idea to find out what diversity and inclusion issues might be present. Ask yourself the question Does Your Company Have Diversity and Inclusion Issues?” to to begin a very important discussion among leadership. Even though the survey period is complete, you could still take the survey to determine what your company’s answers would be as this would help you evaluate the situation at hand.

The Bottom Line

The bottom line here is that diversity and inclusion both play a major factor in the employee turnover rate at your company, no matter the industry in which it operates. High employee turnover means that your company is spending extra resources to find, interview, hire and onboard new employees only for them to leave after a short period. The more your company promotes a diverse workplace and is inclusive to all employees, the better your employee turnover rate will be, with it bordering on very low.
To improve your recruitment for diversity and inclusion, partner with a great finance staffing agency in Chicago like Casey Accounting & Finance Resources. We have candidates from all types of backgrounds ready to go to work for you, and improve your retention rates.

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Salary Trends: Going Up!

According to multiple sources, the outlook for salaries is good for the remaining part of 2015 and into next year. The Society for Human Resource Management predicted around a 3 percent increase for wages this year, and other economics experts stated that wages would approach or exceed the estimated 15-year highs that last year’s wage increases experienced.

Around the Chicago area, wages are also on the upswing, based on data from the U.S. Department of Labor and Statistics. The Illinois unemployment rate has dropped from 6.2 percent in Dec 2014 to 6 percent in May 2015, which is good news for the thousands of workers who call this state home. Earnings are up for several industries, including construction, transportation, professional services, education and health services, hospitality, and government-related businesses. According to the U.S. Department of Labor, some of the biggest job gainers were in the following industries:  Healthcare, Retail, Leisure & Hospitality, Finance & Insurance firms and Transportation & Warehousing.

The National Compensation Survey released their data in June 2015, which indicates that wages are steadily increasing in Illinois and other developed states across the U.S. Based on DOL data, “Employer costs for employee compensation averaged $33.49 per hour worked in March 2015.” Additionally, Illinois is one of many states to raise the minimum wage in 2015, with additional increases scheduled until 2019. Currently, the state minimum wage sits at $9 per hour.

As we move into a candidate driven market, being aware of compensation trends helps with creating the best pay policies for recruiting top talent.  Earlier this year, Casey Resources provided a salary survey that showed salary trends along for job descriptions for positions in the Chicago area. Click here for more information or to receive the content.

If you are looking for new work opportunities, especially those that offer great growth opportunities and benefits, your first stop should be with Casey Accounting & Finance Resources in Chicago. There are many full-time, contract and temp-to-hirepositions paying excellent starting wages.

You are also welcome to get in touch with our caring team of recruiters who can match your skills to a job that offers high salary and growth potential in your industry for the best careers in Chicago.

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Rethink Your Recruitment and Retention Strategies

According to The ASA Workforce MonitorTM , six out of 10 employed adults will not be looking for a new job opportunity this year.  So what do you do to keep your employees and find new employees?

The survey showed that work-life balance and schedule flexibility were more important than pay for many employees.  As far as recruiting new employees, pay and benefits are the most important considerations when a person is deciding to change jobs.

“The ASA Workforce Monitor results underscore the fact that employers need to rethink their recruitment and retention strategies,” said Richard Wahlquist, ASA President and Chief Executive Oofficer. “Quality of life matters in retaining current employees. Compensation matters most in recruiting employees to change jobs.”

For the complete article:  https://americanstaffing.net/posts/2015/06/30/few-adults-on-the-job-hunt/

Top Candidates – July 2015 Newsletter

Casey Resources July 2015 Newsletter

Accounts Payable Manager: 
This dynamic professional is seeking a new opportunity with an organization that is growing and provides a challenge, so she is able to utilize her professional experience, educational background and interpersonal skills. She processes accounts payable for two corporate divisions (domestic and international). She is proficient in three way match, credit applications, sales and use tax returns, and assisted in a major system conversion. She is well versed with AS400, J.D. Edwards, Movex, Kronos and QuickBooks.

Accounts Receivable Manager/Credit Manager:  This energetic professional is seeing a new opportunity for a company that is seeking someone with strong leadership and process management skills. She is an effective problem solver at both the corporate and customer level. She directly oversees all cash application, billing and collection processes. She has handled portfolios ranging from $3.5MM to $107MM. She is proficient with the following systems: Great Plains, SAP, CARMS, Lawson and Radar.

Accounting Manager/Controller:  This multifaceted Fortune 500 Accounting Manager and Controller possess extensive experience in a variety of areas including: Supply Chain, Sales and Margin, Corporate, Inventory Control, International and Integration/Transition. He possesses complete knowledge and understanding of P&Ls and balance sheet. He is a proven leader who effectively communicates with all levels, and provides and implements sensible solutions to complex issues and transactions. He was designated “Accounting Expert” in a consulting role for Fortune 500 SAP conversion. He streamlined the monthly financial close process from 6 days to 4 days through continuous process improvement. He assisted twice in relocating and transitioning the Accounting Department for Fortune 500 organizations including team building and training new accounting team on all policies and procedures.

Contact Casey Resources today to get connected with these great job candidates!