Is your business experiencing high turnover? Are your sales are down? How well does that bode with your current staff?
According to Gallup research, the top reasons an organization experiences high turnover is because of:
* The immediate manager
* Poor fit for the job
* Lack of commitment to quality
* Pay and benefits
* Connection to the organization or to senior management
* Poor hiring
* Insufficient onboarding
The effects on employees who witness a cycle of high turnover include:
* anger/frustration by management
* high costs: severance pay; administrative costs for exit interviews; travel for recruitment/ hiring selection
* weak results found in employees attitudes and job performance
* loss of employee focus on the company’s vision and core values
~ Managers who lose staff due to the constant cycle of attrition and training replacement employees, cannot devote the time needed to train and coach employees who remain on the payroll. Their frustration leads to underdeveloped employees which leads to low morale, poor customer service, loss sales production and profit.
~ Employees want to be appreciated for the hard work they give and expect to be acknowledged for it and when they don’t feel respected, they leave your company and possibly to to work with your competitor.
~ According to Adi Gasgill’s blog in Salesforce, a meta study of over 250 pieces of research concluded that compared the various hypothesis towards employee turnover. The kind of organization and the way it is structured mattered a lot. They found that the following types of organizations were particularly impacted:
•executive level samples
•industries such as healthcare and hospitality, coded as ‘human-capital-centric’
•those with so-called ‘primary employment systems’ that focus around delivery through committed employees (instead of a transactional, control-system)
High employee turnover affects the organization, its employees, customers, prospects and vendors which can cause a rapid and dreadful domino effect. Protect your company’s vision and core values by investing in an exceptional onboarding plan and process. Retain employees who are helping your business reach its goals by providing exceptional training, rewarding them for a job well done. Finally, create a CULTURE creativity so that your employees can reveal and deliver their best to benefit the company and the customer.
Simply said, if people are not happy, they will not produce.
Make it a great day — for your employees, your customers, your vendors/suppliers and yourself !!