{"id":35973,"date":"2023-04-06T18:51:24","date_gmt":"2023-04-06T22:51:24","guid":{"rendered":"https:\/\/www.dailypay.com\/?p=35973"},"modified":"2023-10-20T17:15:54","modified_gmt":"2023-10-20T21:15:54","slug":"strategies-improve-employee-retention","status":"publish","type":"post","link":"https:\/\/www.dailypay.com\/resource-center\/blog\/strategies-improve-employee-retention\/","title":{"rendered":"5 Ways to Improve Your Employee Retention Strategy"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"35973\" class=\"elementor elementor-35973\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-55ea0d78 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"55ea0d78\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-24f491c0\" data-id=\"24f491c0\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-13a09c54 elementor-widget elementor-widget-text-editor\" data-id=\"13a09c54\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">It\u2019s one of the many questions plaguing HR leaders: what\u2019s the best way to retain my employees? And we all know the answer is simple, the solution is slightly harder to figure out.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">The happier your employees are, the longer they\u2019ll stay. The key for HR leaders is figuring out a strategy that keeps them happy. This understanding is at the core of any successful <\/span><a href=\"https:\/\/www.dailypay.com\/resource-center\/employee-retention\/#:~:text=On%2DDemand%20Pay%20Improves%20Employee%20Retention%20Strategy,-According%20to%20a&amp;text=According%20to%20a%20DailyPay%20survey,their%20employer%20because%20of%20DailyPay.&amp;text=Additionally%2C%2056%25%20of%20users%20say,them%20to%20go%20to%20work.\"><span style=\"font-weight: 400;\">employee retention strategy<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">A successful employee retention strategy will include various methods to increase a company\u2019s yearly retention rate, such as improving employee morale, financial wellness and engagement.<\/span><\/p><h2><span style=\"font-weight: 400;\">What Causes High Turnover and Low Employee Retention?\u00a0<\/span><\/h2><p><span style=\"font-weight: 400;\">Disengaged workers are one of the main contributors to high turnover rates. Low employee engagement can be a sign of potential employee retention troubles. <\/span><a href=\"https:\/\/www.gallup.com\/workplace\/352949\/employee-engagement-holds-steady-first-half-2021.aspx\"><span style=\"font-weight: 400;\">According to a 2021 Gallup Poll<\/span><\/a><span style=\"font-weight: 400;\">, only 36% of employees are engaged in their jobs, with 15% reporting that they\u2019re actively disengaged.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">And the reason for disengagement can vary, but it is often financial insecurity. Workers who are worried about whether they can pay their bills are going to be less engaged at work.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">While turnover rates will vary from organization to organization, the least engaged employees tend to have the highest <\/span><a href=\"https:\/\/www.dailypay.com\/resource-center\/blog\/employee-turnover\/\"><span style=\"font-weight: 400;\">turnover rates.<\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2d7d004 elementor-widget elementor-widget-ucaddon_dp_content_card\" data-id=\"2d7d004\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_dp_content_card.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n<!-- start DP Content Card -->\n<style>\/* widget: DP Content Card *\/\n\n.content-card-wrapper {\n   background: #f5f5f5;\n   border-radius: 8px;\n   max-width: 800px;\n   margin: auto;\n   width: 100%;\n  }\n  \n  .content-card-wrapper a {\n   display: flex;\n  }\n  \n  .content-card-text-side {\n   width: 100%;\n   display: flex;\n   flex-direction: column;\n   padding: 30px;\n  }\n  \n  .content-card-text-side p {\n   color: var(--blue-color);\n  }\n\n.content-card-text-side p.dp-breadcrum{\n\tfont-size: 14px !important;\n    line-height: 14px !important;\n}\n  \n  .content-card-text-side h3 {\n   margin-top: 0 !important;\n   font-size: 20px !important;\n   line-height: 28px !important;\n   color: var(--blue-color) !important;\n    width: 100%;\n  }\n\n  .content-card-text-side p.content-card-desc{\n  \t font-size: 16px !important;\n   line-height: 24px !important;\n   color: var(--blue-color) !important;\n    width: 100%;\n    font-weight: 300;\n  }\n  \n  p.content-card-link {\n   flex-grow: 1;\n   display: flex;\n   align-items: flex-end;\n   color: var(--darkorange-color) !important;\n   transition: all ease 0.3s;\n  }\n  \n  p.content-card-link i {\n   margin-left: 3px;\n   position: relative;\n   bottom: 5px;\n   transition: all ease 0.3s;\n    font-size: 11px !important;\n  }\n  \n  .content-card-wrapper:hover p.content-card-link i {\n   padding-left: 5px;\n  }\n  \n  .content-card-img-side {\n   width: 100%;\n    text-align: center;\n    overflow: hidden;\n    display: flex;\n    justify-content: center;\n    align-items: flex-end;\n  }\n  \n  .content-card-img-side img {\n   box-shadow: 0px 8px 20px rgba(0, 0, 0, 0.12);\n   position: relative;\n   top: 30px;\n    width: 100%;\n    max-width: 200px;\n        height: 200px;\n    object-fit: cover;\n    object-position: top;\n  }\n  \n  @media all and (max-width: 768px) {\n   .content-card-text-side {\n    padding: 12px;\n   }\n   .content-card-img-side {\n        max-width: max-content;\n    display: flex;\n    justify-content: center;\n    align-items: center;\n    padding: 10px 10px 10px 0;\n   }\n   .content-card-img-side img {\n        top: 0;\n    max-width: 110px;\n    object-fit: contain;\n    height: auto;\n   }\n    .content-card-wrapper {\n    box-shadow: 0px 8px 20px rgb(0 0 0 \/ 12%);\n          border-radius: 5px;\n}\n    .content-card-text-side h3{\n      font-size: 18px !important;\n    line-height: 26px !important;\n    }\n    p.content-card-link{\n      margin-top: 0px !important\n    }\n  }\n\n<\/style>\n\n<div class=\"content-card-wrapper\">\n  <a href=\"\/resource-center\/blog\/employee-turnover\/\" target=\"_blank\">\n   <div class=\"content-card-text-side\">\n    <p class=\"dp-breadcrum mt0 text-upper text-blue\">Retention Strategy<\/p>\n    <h3 class=\"titlelimit text-blue mt0\" data-maxlength=\"85\">How to Reduce Employee Turnover Rates<\/h3>\n    <p class=\"content-card-desc\" style=\"display: none\">Lorem Ipsum is simply dummy for the printing and typesetting industry.<\/p>\n    <p class=\"content-card-link mb0 dp-mt32 dp-blue-no-style-btn dp-dark-orange-link\">Read more <i class='fas fa-chevron-right f12'><\/i><\/p>\n   <\/div>\n   <div class=\"content-card-img-side\">\n    <img decoding=\"async\" src=\"https:\/\/www.dailypay.com\/wp-content\/uploads\/5-strategies-thumbnail.jpg\" alt=\"Article titled &quot;How to Reduce Employee Turnover Rates [2022 Update]&quot; with an image of a calculator and glasses. The page includes the publication date and author&#039;s name along with text about employee turnover.\">\n   <\/div>\n  <\/a>\n <\/div>\n<!-- end DP Content Card -->\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0afffcd elementor-widget elementor-widget-text-editor\" data-id=\"0afffcd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-weight: 400;\">What\u2019s New in Employee Retention Strategies for 2023?\u00a0<\/span><\/h2><p><span style=\"font-weight: 400;\">An employee retention strategy aims to increase a company\u2019s year-over-year retention by providing methods to improve employee morale and, ideally, encourage employees to remain at the company.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Organizations that don\u2019t have an effective employee retention strategy may suffer from high turnover and the associated adverse effects that impact culture, revenue and customer service.<\/span><\/p><h3><span style=\"font-weight: 400;\">Competitive Pay<\/span><\/h3><p><span style=\"font-weight: 400;\">Attractive and competitive pay not only involves how much an employee gets paid but how often. Fifty-nine percent of employed Americans, including 70% of hourly workers, say they would benefit from getting paid more frequently than they currently do.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Better access to earned wages through on-demand pay helps employees to manage and overcome their financial stress, avoiding negative effects on productivity and morale. Sixty-seven percent of users say DailyPay has helped them reduce financial stress.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p><h3><span style=\"font-weight: 400;\">Outstanding Employee Benefits\u00a0\u00a0<\/span><\/h3><p><span style=\"font-weight: 400;\">Eighty-seven percent of employed Americans say it is at least somewhat important that their employer offers a retirement savings program, such as a 401(k) account.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">In addition to the standard benefits package that employees expect, a comprehensive benefits package that goes above and beyond competitors will give a hiring edge and contribute to employee appreciation and retention.<\/span><\/p><p><span style=\"font-weight: 400;\">Offering on-demand pay as a benefit can help employers better serve their employees.\u00a0<\/span><\/p><h3><span style=\"font-weight: 400;\">Support Employee Wellness\u00a0\u00a0<\/span><\/h3><p><span style=\"font-weight: 400;\">Employees are looking for ways to improve their work\/life balance and reduce their stress levels. When employees are dealing with personal or financial stress, they may perform their job poorly or with less efficiency.<\/span><\/p><p><span style=\"font-weight: 400;\">Employers can further help employees through <\/span><a href=\"https:\/\/www.dailypay.com\/resource-center\/employee-financial-wellness\/\"><span style=\"font-weight: 400;\">financial wellness<\/span><\/a><span style=\"font-weight: 400;\"> support. This can include personalized financial counseling, financial education courses, debt reduction programs and support groups.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Additionally, companies can offer employee wellness programs that include fitness perks, support work-life balance and more.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p><h3><span style=\"font-weight: 400;\">Employee Growth and Development\u00a0<\/span><\/h3><p><span style=\"font-weight: 400;\">Supporting employees in their career growth and development will help set them up for success.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">According to a 2021 Gallup report, 48% of American workers would switch to a new job if offered skills training opportunities and 65% of workers believe employer-provided upskilling is very important when evaluating a potential new job.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">Employers should consider how they can assist employees to upskill and progress their careers within the company instead of pursuing outside opportunities to further their careers including leadership training courses and classes.\u00a0<\/span><\/p><h3><span style=\"font-weight: 400;\">Rewards and Recognition<\/span><\/h3><p><span style=\"font-weight: 400;\">Recognizing an employee for their hard work can play an important role in motivating and retaining employees.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">According to the Harvard Business Review, recognition can significantly increase intrinsic motivation, performance and retention rates.<\/span><\/p><p><span style=\"font-weight: 400;\">Employers should consider how to improve their reward and recognition programs with meaningful rewards that tangibly help employees. Real-time cash rewards give employees instant payments instead of a gift card that may cause compliance issues for employers.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Recognize and incentivize employees with cash rewards in real-time with Reward by DailyPay. Reward helps employers to leverage the power of DailyPay to increase retention and engagement even further while driving behaviors that matter most to your business.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c5fdf6d elementor-widget elementor-widget-ucaddon_dp_button\" data-id=\"c5fdf6d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_dp_button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n<!-- start DP Button -->\n<style>\/* widget: DP Button *\/\n\n.dp-blue-white-btn:hover{\ncolor: var(--blue-color) !important;\n}\n\n<\/style>\n\n<div class=\"dp-btn-wrap dp-mt24 mb0 \" style=\"justify-content: center;\">\n <a class=\"dp-btn-normal dp-blue-orange-btn \" href=\"\/employee-turnover-calculator\/\" target=\"_self\">Retention Calculator <i class=\"fas fa-chevron-right\" style=\"font-size: 12px;position: relative;bottom: 1px;margin-left: 1px;display:none\"><\/i><\/a>\n<\/div>\n<!-- end DP Button -->\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3859e92 elementor-widget elementor-widget-text-editor\" data-id=\"3859e92\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-weight: 400;\">Improve Employee Retention With Earned Wage Access from DailyPay\u00a0<\/span><\/h2><p><span style=\"font-weight: 400;\">In addition to these five employee retention strategies, employers can further support their employees with <\/span><a href=\"https:\/\/www.dailypay.com\/resource-center\/how-can-earned-wage-access-help-your-business\/\"><span style=\"font-weight: 400;\">earned wage access<\/span><\/a><span style=\"font-weight: 400;\"> (also known as on-demand pay).\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Earned wage access from DailyPay has improved retention, employees\u2019 financial wellness and their opinion of employers.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Across industries examined by Mercator Advisory Group in a DailyPay-commissioned study, the average turnover rate improved by 35% for workers with EWA solutions. Additionally, the average tenure of employees who used DailyPay increased by 27% over non-DailyPay users. This 27% increase in tenure translates to 39 additional days on the job.<\/span><\/p><p><span style=\"font-weight: 400;\">Start improving your employee retention strategy today with DailyPay.<\/span><i><\/i><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8c6f0e7 elementor-widget elementor-widget-ucaddon_dp_button\" data-id=\"8c6f0e7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_dp_button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n<!-- start DP Button -->\n<style>\/* widget: DP Button *\/\n\n.dp-blue-white-btn:hover{\ncolor: var(--blue-color) !important;\n}\n\n<\/style>\n\n<div class=\"dp-btn-wrap dp-mt16 dp-mb8 \" style=\"justify-content: center;\">\n <a class=\"dp-btn-normal dp-blue-orange-btn \" href=\"\/demo\/\" target=\"_self\">Book a demo <i class=\"fas fa-chevron-right\" style=\"font-size: 12px;position: relative;bottom: 1px;margin-left: 1px;display:none\"><\/i><\/a>\n<\/div>\n<!-- end DP Button -->\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-18696cf elementor-widget elementor-widget-ucaddon_dp_heading_text\" data-id=\"18696cf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_dp_heading_text.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n<!-- start DP Heading Text -->\n<style>\/* widget: DP Heading Text *\/\n\nh1 span, h2 span, h3 span, h4 span, h5 span, h6 span {\n  font-family: var(--primary-font) !important;\n}\n\n<\/style>\n\n<h2 class=\"dp-font-32 navy-text dp-font-primary f-weight-300 text-left dp-mb24 dp-mt16\" style=\"max-width: nonepx;margin: auto;\">FAQs<\/h2>\n<!-- end DP Heading Text -->\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eb21ecb elementor-widget elementor-widget-ucaddon_dp_faq_s\" data-id=\"eb21ecb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_dp_faq_s.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n<!-- start DP FAQ&#039;s -->\n<style>\/* widget: DP FAQ&#039;s *\/\n\n\/* video faq styles *\/\n\n.faq-answer-video-wrap {\n  width: 100%;\n  display: flex;\n  margin-top: 22px;\n  overflow: hidden;\n  justify-content: center;\n  align-items: center;\n}\n\n.faq-answer-video-wrap .faq-answer-video-inner {\n  width: 100%;\n  margin: 10px;\n  \/* max-width: max-content; 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To calculate employee retention, divide the number of employees by the number of original employees and multiply that number by 100 to get your percentage.<\/span><\/p>\n        <\/section>\n      <\/li>\n      <li class=\"accordian-open\" role=\"heading\" aria-level=\"3\">\n        <div class=\"accordion-head\" role=\"button\" tabindex=\"0\" aria-expanded=\"true\">\n          What\u2019s the difference between employee retention vs employee turnover?\n          <span class=\"acc-icon\" aria-hidden=\"true\">\n            <i class=\"fas fa-chevron-down\" aria-hidden=\"true\"><\/i>\n          <\/span>\n        <\/div>\n        <section>\n          <p><span style=\"font-weight: 400;\">Employee retention is the percentage of employees who remain with an organization year to year. The percentage of employees leaving an organization determines the turnover rate.<\/span><\/p>\n        <\/section>\n      <\/li>\n<li class=\"accordian-open\" role=\"heading\" aria-level=\"3\">\n        <div class=\"accordion-head\" role=\"button\" tabindex=\"0\" aria-expanded=\"true\">\n          Why is employee retention crucial for businesses?\n          <span class=\"acc-icon\" aria-hidden=\"true\">\n            <i class=\"fas fa-chevron-down\" aria-hidden=\"true\"><\/i>\n          <\/span>\n        <\/div>\n        <section>\n          <p><span style=\"font-weight: 400;\">High employee retention can improve retention, employee morale and revenue.<\/span><\/p>\n        <\/section>\n      <\/li>\n<li class=\"accordian-open\" role=\"heading\" aria-level=\"3\">\n        <div class=\"accordion-head\" role=\"button\" tabindex=\"0\" aria-expanded=\"true\">\n          Which industries have the lowest employee retention rate? \n          <span class=\"acc-icon\" aria-hidden=\"true\">\n            <i class=\"fas fa-chevron-down\" aria-hidden=\"true\"><\/i>\n          <\/span>\n        <\/div>\n        <section>\n          <p><span style=\"font-weight: 400;\">Industries with the highest turnover rates include accommodation and food services: 86.3%, leisure and hospitality: 84.9%, retail trade: 64.6% and professional and business services: 64.2%.<sup>9<\/sup><\/span><\/p>\n        <\/section>\n      <\/li>\n<li class=\"accordian-open\" role=\"heading\" aria-level=\"3\">\n        <div class=\"accordion-head\" role=\"button\" tabindex=\"0\" aria-expanded=\"true\">\n          Which industries have the highest employee retention rate? \n          <span class=\"acc-icon\" aria-hidden=\"true\">\n            <i class=\"fas fa-chevron-down\" aria-hidden=\"true\"><\/i>\n          <\/span>\n        <\/div>\n        <section>\n          <p><span style=\"font-weight: 400;\">Industries with the lowest turnover rate include state and local education: 16%, state and local government (including education): 18% and the federal government: 18.8%<sup>10\u00a0<\/sup><\/span><\/p>\n        <\/section>\n      <\/li>\n<li class=\"accordian-open\" role=\"heading\" aria-level=\"3\">\n        <div class=\"accordion-head\" role=\"button\" tabindex=\"0\" aria-expanded=\"true\">\n          Is there a correlation between pay and employee retention?\n          <span class=\"acc-icon\" aria-hidden=\"true\">\n            <i class=\"fas fa-chevron-down\" aria-hidden=\"true\"><\/i>\n          <\/span>\n        <\/div>\n        <section>\n          <p><span style=\"font-weight: 400;\">If employees feel well-compensated, they\u2019re less likely to look for a new job. Attractive and competitive pay not only involves how much an employee gets paid but how often. Fifty-nine percent of employed Americans, including 70% of hourly workers, say they would benefit from getting paid more frequently than they currently do.<sup>11<\/sup><\/span><\/p>\n        <\/section>\n      <\/li>\n     <\/ul>\n  <\/div>\n<\/div>\n<!-- end DP FAQ's -->\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ecaaa62 elementor-widget elementor-widget-ucaddon_dp_footnotes\" data-id=\"ecaaa62\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_dp_footnotes.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n<!-- start DP Footnotes -->\n<style>\/* widget: DP Footnotes *\/\n\n.footnotes-textarea{\n  margin-bottom: 24px;\n  display: block;\n  color: #676b75;\n  font-size: 12px;\n  line-height: 16px;\n  max-width: nonepx;\n}\n\n.footnotes-textarea p{\n  margin-bottom: 10px;\n  color: #676b75;\n  font-size: 12px;\n  line-height: 16px;\n}\n\n.footnotes-column-wrapper p{\n  color: #676b75;\n  line-height: 16px;\n  margin-bottom: 4px;\n  display: flex;\n}\n\n.footnotes-column-wrapper p sup{\n  margin-right: 2px;\n}\n\n.footnotes-column-wrapper p a{\n  font-weight: 400;\n  text-decoration: underline;\n  color: #676b75;\n  transition: all ease 0.3s;\n  width: 100%;\n  max-width: max-content;\n}\n\n\n.elementor-widget-theme-post-content .footnotes-column-wrapper p a{\n  font-weight: 400;\n  text-decoration: underline;\n  color: #676b75;\n  transition: all ease 0.3s;\n}\n\n.footnotes-column-wrapper p a:hover{\n  color: #494c52;\n}\n\n\n.elementor-widget-theme-post-content .footnotes-column-wrapper p a:hover{\n  color: #494c52;\n}\n\n.footnotes-copy-text{\n  display: none;\n}\n\n.footnotes-copy-text .colon-symbol{\n  margin-right: 5px;\n}\n\n.dp-footnotes-show{\n  display: block;\n}\n\n.dp-column-wrap{\n  flex-wrap: wrap;\n}\n\n.footnotes-column-wrapper{\n  width: 100%;\n  margin: 0px;\n  display: flex;\n  flex-wrap: wrap;\n}\n\n.footnotes-column-wrapper.dp-column-wrap-1 p{\n  width: 100%;\n}\n\n.footnotes-column-wrapper.dp-column-wrap-2{\n  gap: 0 20px;\n}\n\n.footnotes-column-wrapper.dp-column-wrap-2 p{\n  width: calc(50% - 10px);\n}\n\n.footnotes-column-wrapper.dp-column-wrap-3{\n  gap: 0 15px;\n}\n\n.footnotes-column-wrapper.dp-column-wrap-3 p{\n  width: calc(33.33% - 10px);\n}\n\n.footnotes-column-wrapper.dp-column-wrap-4{\n  gap: 0 10px;\n}\n\n.footnotes-column-wrapper.dp-column-wrap-4 p{\n  width: calc(25% - 10px);\n}\n\n@media only screen and (max-width: 768px) {\n  .footnotes-column-wrapper.dp-column-wrap-4, .footnotes-column-wrapper.dp-column-wrap-3, .footnotes-column-wrapper.dp-column-wrap-2{\n    gap: 0\n  }\n  .footnotes-column-wrapper.dp-column-wrap-4 p, .footnotes-column-wrapper.dp-column-wrap-3 p, .footnotes-column-wrapper.dp-column-wrap-2 p{\n    width: 100%;\n  }\n}\n\n<\/style>\n\n<div class=\"footnotes-textarea\"><p><i><span style=\"font-weight: 400;\">All information herein is for educational purposes only and should not be relied upon for any other use. The information herein does not constitute the rendering of financial advice or other professional advice by DailyPay. No fiduciary obligation or duty exists, or is created, between you and DailyPay. DailyPay does not warrant the completeness or accuracy of any information provided to you.<\/span><\/i><\/p><\/div>\n<div class=\"dp-column-wrap\">\n  <div class=\"footnotes-column-wrapper dp-column-wrap-1\" style=\"max-width: nonepx;\">\n    <p class=\"f12 \"><sup>1<\/sup> <a href=\"https:\/\/www.gallup.com\/workplace\/352949\/employee-engagement-holds-steady-first-half-2021.aspxv\" target=\"_blank\" rel=\"noopener\">https:\/\/www.gallup.com\/workplace\/352949\/employee-engagement-holds-steady-first-half-2021.aspxv<\/a><span class=\"dp-footnotes-hide footnotes-copy-text\"><span class=\"colon-symbol\">:<\/span>DailyPay, 2020<\/span><\/p>\n<p class=\"f12 dp-no-link-click\"><sup>2<\/sup> <a href=\"\" target=\"_blank\" rel=\"noopener\">Harris Poll Consumer Finances study commissioned by DailyPay and Funding Our Future, 2021 <\/a><span class=\"dp-footnotes-hide footnotes-copy-text\"><span class=\"colon-symbol\">:<\/span>DailyPay, 2020<\/span><\/p>\n<p class=\"f12 dp-no-link-click\"><sup>3<\/sup> <a href=\"\" target=\"_blank\" rel=\"noopener\">November 2022 DailyPay User Survey <\/a><span class=\"dp-footnotes-hide footnotes-copy-text\"><span class=\"colon-symbol\">:<\/span>DailyPay, 2020<\/span><\/p>\n<p class=\"f12 dp-no-link-click\"><sup>4<\/sup> <a href=\"\" target=\"_blank\" rel=\"noopener\">Harris Poll Consumer Finances study commissioned by DailyPay and Funding Our Future, 2021 <\/a><span class=\"dp-footnotes-hide footnotes-copy-text\"><span class=\"colon-symbol\">:<\/span>DailyPay, 2020<\/span><\/p>\n<p class=\"f12 \"><sup>5<\/sup> <a href=\"https:\/\/www.cultureamp.com\/blog\/employee-wellness-programs\" target=\"_blank\" rel=\"noopener\">https:\/\/www.cultureamp.com\/blog\/employee-wellness-programs<\/a><span class=\"dp-footnotes-hide footnotes-copy-text\"><span class=\"colon-symbol\">:<\/span>DailyPay, 2020<\/span><\/p>\n<p class=\"f12 \"><sup>6<\/sup> <a href=\"https:\/\/www.gallup.com\/analytics\/354374\/the-american-upskilling-study.aspx\" target=\"_blank\" rel=\"noopener\">https:\/\/www.gallup.com\/analytics\/354374\/the-american-upskilling-study.aspx<\/a><span class=\"dp-footnotes-hide footnotes-copy-text\"><span class=\"colon-symbol\">:<\/span>DailyPay, 2020<\/span><\/p>\n<p class=\"f12 \"><sup>7<\/sup> <a href=\"https:\/\/hbr.org\/2021\/03\/research-a-little-recognition-can-provide-a-big-morale-boost\" target=\"_blank\" rel=\"noopener\">https:\/\/hbr.org\/2021\/03\/research-a-little-recognition-can-provide-a-big-morale-boost<\/a><span class=\"dp-footnotes-hide footnotes-copy-text\"><span class=\"colon-symbol\">:<\/span>DailyPay, 2020<\/span><\/p>\n<p class=\"f12 dp-no-link-click\"><sup>8<\/sup> <a href=\"\" target=\"_blank\" rel=\"noopener\">EWA Report, Mercator Advisory Group commissioned by DailyPay, 2021 <\/a><span class=\"dp-footnotes-hide footnotes-copy-text\"><span class=\"colon-symbol\">:<\/span>DailyPay, 2020<\/span><\/p>\n<p class=\"f12 \"><sup>9<\/sup> <a href=\"https:\/\/www.bls.gov\/news.release\/jolts.t16.htm\" target=\"_blank\" rel=\"noopener\">https:\/\/www.bls.gov\/news.release\/jolts.t16.htm<\/a><span class=\"dp-footnotes-hide footnotes-copy-text\"><span class=\"colon-symbol\">:<\/span>DailyPay, 2020<\/span><\/p>\n<p class=\"f12 \"><sup>9<\/sup> <a href=\"https:\/\/www.bls.gov\/news.release\/jolts.t16.htm\" target=\"_blank\" rel=\"noopener\">https:\/\/www.bls.gov\/news.release\/jolts.t16.htm<\/a><span class=\"dp-footnotes-hide footnotes-copy-text\"><span class=\"colon-symbol\">:<\/span>DailyPay, 2020<\/span><\/p>\n<p class=\"f12 dp-no-link-click\"><sup>11<\/sup> <a href=\"\" target=\"_blank\" rel=\"noopener\">Harris Poll Consumer Finances study commissioned by DailyPay and Funding Our Future, 2021 <\/a><span class=\"dp-footnotes-hide footnotes-copy-text\"><span class=\"colon-symbol\">:<\/span>DailyPay, 2020<\/span><\/p>\n   <\/div>\n<\/div>\n<!-- end DP Footnotes -->\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>It\u2019s one of the many questions plaguing HR leaders: what\u2019s the best way to retain my employees? And we all know the answer is simple, the solution is slightly harder to figure out.&nbsp; The happier your employees are, the longer they\u2019ll stay. The key for HR leaders is figuring out a strategy that keeps them<a class=\"read-more\" href=\"https:\/\/www.dailypay.com\/resource-center\/blog\/strategies-improve-employee-retention\/\">Read More<\/a><\/p>\n","protected":false},"author":78,"featured_media":35975,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[147],"tags":[630],"class_list":["post-35973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How to Improve Employee Retention Strategy - DailyPay<\/title>\n<meta name=\"description\" content=\"Discover how organizations can improve an employee retention strategy with 5 methods\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailypay.com\/resource-center\/blog\/strategies-improve-employee-retention\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Ways to Improve Your Employee Retention Strategy\" \/>\n<meta property=\"og:description\" content=\"Discover how organizations can improve an employee retention strategy with 5 methods\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailypay.com\/resource-center\/blog\/strategies-improve-employee-retention\/\" \/>\n<meta property=\"og:site_name\" content=\"DailyPay\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/dailypay\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-06T22:51:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-20T21:15:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-retention-improvement-strategy.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Chris Brunau\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@dailypay\" \/>\n<meta name=\"twitter:site\" content=\"@dailypay\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Chris Brunau\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"How to Improve Employee Retention Strategy - 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