The Center for American Progress reported that losing an employee costs upwards of 213% of their annual salary.
That is a lot of money.
Some of the other impacts of employee turnover are:
- Negative word of mouth by employees who leave, and sometimes by those who stay behind, making it heard to recruit top talent.
- The psychological impacts of losing a long-term team member, which impacts employee morale
- The holes that are left in the staffing levels, leaving the remaining employees to pick up the work, which can lead to a loss in productivity, missing deadlines or missing work.
The easiest way to differentiate and create greater employee retention is to focus on creating more positive emotions inside of your workforce.
By listening to, growing and appreciating your employees, you give them a reason to want to stay on your team and with your organization.
The Employee Fanatix team can provide insights on hiring, training, motivating and retaining high impact employees who take your organization to the next level.
Heather and her team partner with you to engage your employees and make them feel heard. While many organizations distribute employee surveys, we’ve found that few actually process and act on the results.
We help put processes in place that ensures that you listen to your employees and use what you hear to drive forward organizational strategy.
Asking for feedback, then ignoring it, can make a situation worse. We focus on the positive to make employees feel safe and supported when they share feedback. We offer guidance on keeping employees in the loop after information has been shared, so they don’t feel discouraged, which ensures greater employee retention.