Employee turnover is expensive. Far more so than most employers realize or budget for. Turnover was the top workforce management challenge indicated by 47% of HR professionals in a SHRM survey. But, many employers do not proactively take steps to encourage retention and engagement through their workforce.
Some turnover is healthy. An employee not a cultural fit can harm an entire team or division. An employee not pulling their own weight may cause strife with other, well performing individuals. Turnover can be an opportunity to upgrade talent, and drive results.
Employees leave employers for a wide range of reasons. Employees also stay for a variety of reasons. We work with our clients to proactively work to retain and build up teams for the long term.
A few areas we address that are powerful retention drivers include:
*Training and Development
*Compensation and Rewards
*Benefits
*Culture
*Structure
*Recognition Programs
*Stay Interviews
Employees that feel valued, challenged, connected to the culture, and recognized for their work are more likely to stay at an organization. A few key initiatives can assist you in driving retention and driving down turnover costs.
If you don’t know where to start, book an exploratory call with us today. https://www.mgassociates.org/book-online