It’s no secret that turnover hurts…
… and with COVID on the playing field – turnover hurts even more.
So what if you could drive retention up and start a trend of employee retention? It’s not out of reach, and right now may the best time to make some changes.
“Employees are a company’s greatest asset – they’re your competitive advantage. You want to attract and retain the best; provide them with encouragement, stimulus, and make them feel that they are an integral part of the company’s mission.” – Anne M. Mulcahy – former CEO of Xerox
For businesses to thrive in today’s economy, finding and retaining the best employees is critical. This is especially true for smaller businesses competing with larger businesses (and larger budgets) for top talent. An article last month in PeopleKeep® questions whether turnover is still relevant.
According to an article published in April by Inc.com – “Though it’s true that many employees are unfortunately getting laid off, companies need to be cognizant of the fact that employee turnover is still a possibility during these times.”
Research by Glassdoor found that organizations with a strong onboarding process improve new hire retention by 82 percent and productivity by over 70 percent – if that doesn’t fully convince you of the importance of a good onboarding program – consider the following:
Some studies predict that every time a business replaces a salaried employee, it costs 6 to 9 months’ salary on average. (For a manager making $40,000 a year, that’s $20,000 to $30,000.)
Other studies, however, predict the cost is even more → that losing a salaried employee can cost as much as twice their annual salary (especially for a high-earner or executive-level employee).
The global pandemic has changed a great many things for businesses. It’s fundamentally changed HOW business is done for some. Isn’t it worth just a little time to learn some of the best techniques and tools to help your investment in employees return the value you not only want but need to be successful? The fact is…
TIMES HAVE CHANGED… HOW WILL YOU?
Want to learn more? In my workshop, “Setting Up Employees for Success”, you will discover the essential steps to highly effective onboarding from our High Impact Manager Training course.
YOU WILL LEARN:
- How to make current employees an effective part of the onboarding process
- Critical strategies to ensure that your new employees are set up to succeed
- Tools and techniques that build and maintain a robust onboarding process
- …and much more!
Contact me today to schedule a workshop with your team.