The cost of Turnover can kill your business
Giulio Zecca
Simplify Operations and Improve Strategic Decisions?? Management Advisor on the Board and beyond ?? International Impact in five languages ?? Excellence and Disruptive Leadership
"The startling truth is that more than a quarter of employees are at high risk of turnover. What’s worse is that one-third of those at high risk for turnover are talented, motivated employees who exceed performance expectations."
Angela Hosking (Project Management Institute)
On top of that, turnover can cost employers between 33 and 66 percent - on average - of an employee’s annual salary.
And it can go up to 213 percent of an annual salary for highly educated executive positions!
When executives tell me it's not a priority to invest in Company Culture, but one of their goals is to hire Talents, it comes naturally to wonder if they were given these stats.
In a way simple to understand and integrate.
BUT COMPANY CULTURE IS NOT MEASURABLE!
?- Then how can you find a way to observe the changes and improvements?
?- Then how do you improve processes, efficiency, systems so that everything functions like a well-oiled machine, people are productive, and you can measure their performance?
?
Speaking with many executives, I understand that it seems not easy to find time and trust someone external.
But this can be:
?- Delivered without much effort from your side
?- Short, done in a couple of months
?- In a way that your teams learn the improvements and take responsibility
?- Followed up for a couple of years in case something changes, and you want to fine-tune.
Curious to know: do you have something like this in place internally - or with an external consultant?
Community Relations Manager
2 年insightful facts, great share
Attorney At Law at CIVIL COURT CASES
2 年Well said
TIME 2B GREAT 4 Kids-Teens-College| International Author-Keynote Speaker-Workshops-Youth Ministry-Initiatives| WHO'S WHO in USA| TOP 50 MOST IMPACTFUL| 250 RISING STAR INFLUENCERS| TOP 100 THOUGHT LEADERS|??Mama Liz???
2 年Thanks for sharing! So true
Simplify Operations and Improve Strategic Decisions?? Management Advisor on the Board and beyond ?? International Impact in five languages ?? Excellence and Disruptive Leadership
2 年Two sources (among the many available): https://www.forbes.com/sites/johnhall/2019/05/09/the-cost-of-turnover-can-kill-your-business-and-make-things-less-fun? https://www.peoplekeep.com/blog/bid/312123/employee-retention-the-real-cost-of-losing-an-employee