It is to your benefit to keep employee turnover as low as possible, to maintain high team morale and sustain ideal productivity.
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 Challenges
Employees who are unhappy, not motivated or not a good fit for their position likely won’t stay on the job long. This will force you to constantly repeat the hiring process. If you don’t have the resources to efficiently hire new employees—or better yet, avoid high turnover in the first place—this can cause major problems in your operations.
How High Employee Turnover Affects Your Business
Employee turnover hurts your business in a variety of important ways. It is costly to hire and train an employee—and that investment is wasted if the employee then leaves after you have gone through the time and expense to bring them on board. An employee departure also forces you to embark on a new hiring search expending more time and manpower.
When an employee departs, it leaves you with a gap in your workforce. The overall team productivity suffers due to the disruption and distraction. This will make it difficult for the remaining team members to operate at peak efficiency. The disruption of an employee departure is felt most strongly at a small business, where each employee is vital to the operation.
Profiles International offers several solutions to help you keep employee turnover as low as possible. This includes tools to help you recruit and hire the best people in the first place, along with assessments that help you determine how to best motivate and engage the employees you currently have.