Given the amount of money, time, and resources it costs to recruit, hire, and train an employee it is a wonder why we so often hear from potential clients that they are faced with significant turnover challenges. More curious is why so few companies don’t really do much to specifically address it. Combating the turnover issue ultimately alleviates a host of other potential costly pitfalls.
Taking the time to understand what your employees need and want before they walk out the door is critical. Baseline surveys or even just regular sit-downs with HR empower employees to gain some control over their own destiny within the company. Enabling employees to weigh-in on what works, what doesn’t, as well as to offer suggestions for the future engages them and can secure their buy-in to the company’s next steps. Even if an employees’ suggestion is not implemented – they feel involved in the process and valued for being able to even give input at all.
The exit interview (if conducted) is often the time when employees reveal their real concerns, dislikes, and ultimate reasons for leaving. By checking employee temperatures along the way – a company can have a greater chance at preventing their departure while reaping the many benefits (financial or otherwise) that are tied to employee loyalty.
Click here for an interesting blog on the topic. The author outlines the Six E’s of Engagement and the top ten reasons why employees really quit – based on a survey of 20,000 “job quitters.”