Case Study – 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.
Employee Turnover Overview
It is to your benefit to have a team of loyal, dedicated employees who want to stay at your company for the long-term (and, ideally, will transition into leadership roles). This ensures the long-term efficiency and success of your business, and also reduces potential disruption and drops in productivity that can result from frequent employee departures.
How High Employee Turnover Affects Your Business
High turnover is costly and disruptive to a business. Replacing an employee who leaves is an expensive and time-consuming process. If the position involves a learning curve or an adjustment period, this will also lead to a period of time during which you will see lower productivity from that position or the team.
How We Can Help
Reducing employee turnover requires a two-pronged strategy. First, you must select the right people in the first place. You need to hire people who are a good fit for the position and the company, and who have the dedication and commitment to stay with a company for a long period of time.
Then you also need to ensure that once you hire the right people, you make them want to stay there. This means supporting and encouraging them, providing them with the development and training they need to advance, and establishing a positive work environment. We have tools that can help with both stages of this process.
Profiles International offers several solutions that can help you reduce employee turnover. This includes assessments to help determine the best job match for a specific employee.