The Management Blog
Tips & advice to help you improve your performance
Employee turnover is a challenge that companies have to tackle to promote productivity, efficiency and employee satisfaction.
When employees get hired only to move on from their positions weeks or months later, projects get stalled and other staff members have to pick up the slack.
Every manager needs to keep one figure in mind: every time an employee leaves, it can take six to nine months of their salary to recruit, hire and onboard their replacement.
Thus, if that person made £100,000 per year, it can take from £60,000-£90,000 to replace them.
Due to the fact that modern employees are not as loyal to their jobs as in the years before, managers have a hard time keeping their star players.
A high employee turnover can devastate a company, forcing remaining employees to pick up the slack, and causing a loss in sales while a replacement is sought.
Loyalty is important in our personal lives; we expect it from our partners, family and friends.
However, loyalty is just as important in the workplace due to the fact that managers rely on their employees to do honest work, not divulge sensitive company information and to stick it out with the company for years to come.
How would you feel about your employees deciding when and how long their holiday leave should be?
Most organisations not only track how much of their annual leave employees use, they track their daily hours. Learn More
When trying to find material about making the corporate culture and environment better, there is a lot of confusing information.
Two terms that seem to be used interchangeably are employee satisfaction and employee engagement.
Few things are as disruptive to a business’s success than valuable employees leaving the nest.