![]() This will lead them to look elsewhere for the chance to improve their prospects. If you don’t prioritise, or even offer, development and growth for your employees, they will begin to feel that there is a lack of opportunities within your business. Good employees want to know that they can grow their skills and continue on a successful career path within your business. Lack of development opportunities or growth The main causes of staff turnover include: 1. If you are experiencing an issue with high staff turnover, you need to start by looking at what’s happening within your business. What are the main causes of employee turnover?Īs we’ve mentioned above, high employee turnover impacts both your time and money, but it can also have huge impacts on staff morale, productivity and can damage your reputation as an employer. This leads to a loss of productivity for a certain amount of time, and in turn, means an extra cost until they are fully up to speed. New starters have to become familiar with the systems and processes and learn how best to operate in the company. ![]() No matter how brilliant your new member of staff is, it will take time for them to be producing the same level of work as the person they replaced. Onboarding costsīringing on new staff means that you will need to conduct both inductions and training, costing not only money, but your time too. The more often you have to go through the recruitment process, the more these costs build-up for your business. Whether you’re using a recruitment agency or placing an advert online, it can become costly. This can result in additional costs to pay for temporary staff, or overtime to existing staff members who pick up the work. When a staff member leaves it can be difficult to fill the role immediately. To calculate the cost of staff turnover for your business, you should look at the following factors: Covering the vacancy until it’s filled The cost of staff turnover will vary between industries and roles but a high staff turnover will always be more expensive than a low staff turnover. New staff members bring fresh ideas and experience to the team which helps to support growth. ![]() Having low staff turnover is generally nothing to worry about, however if too few people are leaving it can hinder creativity. This could also lead to potential employees hearing bad things about your company from past or frustrated employees, meaning a high staff turnover could also hold you back from hiring top talent in the future. When staff frequently leave your business, people will assume your organisation isn’t a good place to work. A high staff turnover can impact productivity and morale but can also lead to issues with company growth and success. ![]() If you have a particularly high or low staff turnover, or if employees are leaving due to happiness at work, it highlights that it’s time to make some important changes to your business.įrequently having to replace employees who have left the company can become a big problem. Staff turnover, also known as employee turnover, is the percentage of employees leaving your organisation during a certain period of time. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |