It is now relatively common to change jobs every few years, rather than grow with one company throughout the employee lifecycle. You can no longer take it for granted that an employee will stay in one job for many years.
White Paper – From Turnover Abyss to Multi-Million Dollar Sales
Steve Cardy thought all hope was lost as he joined a new company that was facing abysmal employee turnover levels of 600 percent. He was recruited to his new position with the sole purpose of growing the company. Experienced in the hospitality industry, not staffing, he knew he had to find a solution and quick.
How Turnover Affects Your Business
High employee turnover can be costly for businesses—especially large companies—because for each employee that leaves, you must go through the time and expense of recruiting and training a new one. Meanwhile, your normal flow of operations may be disrupted. It hurts you most when talented employees in pivotal roles leave. Not only are you losing talent that is vital to your enterprise, but there’s also a strong likelihood that your former employees will go to work for one of your competitors.
Additionally, as fewer qualified workers enter the marketplace, it will become exceedingly difficult to build and maintain a talented workforce. Furthermore, as these new workers enter the workplace, they bring with them new attitudes about their managers, which makes it increasingly difficult to keep them.
How We Can Help
Most enterprises find that employee retention improves when they address simple issues that affect both individual employees, and overall morale in the workforce. Often, an employee may be unhappy with their job because they do not possess the skill sets needed to be successful, or they have a bad relationship with their manager. This can lead to decreased productivity, low motivation, and ultimately, employee turnover.
Profiles International can help you develop an effective employee retention strategy that will identify the skill sets of your current workforce and ensure that each individual is suited for their job.
We have a number of assessment tools that can help you evaluate an employee’s motivation, strengths and interests. You can then ensure that the individual is placed in a position where they will be happiest and most productive.