Sample interview questions: How do you assess the impact of employee benefits and rewards programs on employee retention and loyalty?
Sample answer:
Assessing the Impact of Employee Benefits and Rewards Programs on Employee Retention and Loyalty
Quantitative Measures:
- Retention Rates: Compare employee turnover rates before and after implementing benefits and rewards programs to determine if they have reduced attrition.
- Absence and Tardiness: Track the frequency and duration of employee absences and tardiness to assess if benefits and rewards programs have improved employee attendance.
- Exit Interviews: Conduct exit interviews with departing employees to gather insights on whether benefits and rewards programs influenced their decision to leave the organization.
- Employee Surveys: Distribute surveys to employees to gather feedback on their satisfaction with benefits and rewards programs and their perceived impact on retention.
Qualitative Measures:
- Employee Engagement Scores: Use employee engagement surveys to measure employee satisfaction, motivation, and commitment, which are often linked to retention.
- Performance Reviews: Track employee performance reviews to assess if benefits and rewards programs have motivated employees to improve their performance, which can enhance loyalty.
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