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As the competition for talent remains fierce, HR pros should consider the elements of a successful recruitment and retention strategy.
Those elements may include a strong value proposition and positive culture, where employees have a voice—at least according to Joanne Rodgers, CHRO at New York Life. The insurance company’s employee turnover rate was 7% in 2023, compared to 10% in 2022, she told HR Brew. (The average turnover rate in US businesses was 17.3% between 2022 and 2023, according to Mercer data.) And thanks to some creative recruiting strategies, New York Life saw a 300% rise in internship applications for this