HR Myths Busted
Namely, an HR platform for mid-sized companies released a new data report, HR Mythbusters 2017. The report analyzed data from over 125,000 employees to confirm—or bust—several myths about the modern workplace. The report covers a range of topics including vacation time, turnover rates and employee tenure.
Key among the report’s findings is the fact that high-performers are taking ample vacation time, which appears to be paying dividends. Those who received a high mark during performance reviews took an average of 19 vacation days each year, versus 14 days on average for low performers. This 5-day gap suggests that time off from work has a dramatic and positive impact on performance. In addition, it appears Baby Boomers are the new job-hopping generation, with a median tenure of just 2.53 years—busting the notion that millennials are the only ones to frequently change jobs.
Additional insights from the report include:
- Unlimited vacation is under-utilized. Employees with unlimited policies take 13 days a year versus 15 for those with traditional PTO plans.
- Engineers are taking over the workforce. Of employees who started in 2016, “engineer” was far and away the most frequently recurring job title keyword.
- High-growth keeps employees around. For every additional 10% in headcount growth, companies’ turnover rates were an average of 1.6% lower.
Download the full HR Mythbusters 2017 report here: http://library.namely.com/hr-mythbusters-2017