Not only for them, it’s also crucial for your business. The cost of losing team members and having high turnover is sometimes hidden and can creep up on a company often when it’s challenging to fix.
Everyone wants to be happy and love their job, but there are many reasons why you as an employer may want to look at what you’re doing and how you’re doing it to ensure a low turnover of staff and smiling employee’s longer-term success.
The cost of employment in this market is considerable. Your new employee may require induction before they are fully autonomous. Advertising, interviewing, second round interviews with managers then add in applying psychometric tests, onboarding, and purchasing equipment/uniform all adds up. If you are adding to your workforce, these costs are unavoidable. If you find yourself replacing people regularly, this can signify a more bigger problem.
Training is a considerable and often hidden expense. It generally requires functioning staff to take time to show new employees processes and systems; this takes a toll on productivity and, therefore, profits of a business. Moreover, if the new employees require external training and off-site courses, it could be some time before they are up to speed in their new role.
Existing employees notice the revolving door of new hires, which can affect the business cutlure. When people see others unhappy, they question their contentment and put their jobs under closer scrutiny. You are competing with other companies that may have created a very open, collaborative, and fun place to work. It’s time to reflect and see what you can do to improve your workplace and what is on offer.
To make changes in the workplace that will keep most people smiling, you need to look and reflect on pain points. Here is a list of some questions that can help kickstart this process:
The cost of high turnover of staff is not just measured financially but also emotionally, and it can also impact your brand, reputation and eventually turnover. If you have managers treating their employees like commodities and have noticed high staff turnover in specific departments or areas, this needs to be addressed quickly.
Exit interviews are not always pleasant, but if you are serious about changing what makes staff leave or move on, they are essential to get a lens on what is happening. People are often happy to share what they don’t like on their way out the door, but you can turn this information into a positive and implement real change that will see your employees smiling instead of leaving.
Recruitment Central understands employment, recruitment and staffing. Contact us for advice or assistance in finding you the perfect person for the role you have on offer. We are professional and friendly and have an extensive database of interviewed and ready to work professionals.