It is simply a two step process - which can only have one order.
- They can leave faster then you can hire.
- The cost of recruiting is higher then the cost of retaining.
- The root cause of your turnover is multifaceted - so is the cost.
- When fixed the benefits and savings will also be multifaceted.
- Sooner or later you will run out of candidates that will apply.
- The "Talent War" will not be won by an employer with high turnover.
Case study: A service company was bleeding out of senior technicians. We could not replace them as fast as they were leaving. The company's viability was at stake. A thorough review of the REAL root causes of our turnover was done. Solutions, with the cost, were identified. The costs were dramatically less then our extraordinary recruiting costs. We stopped the bleeding first, our recruiting was no longer a crisis. The solutions worked in the long term to the point that few employees ever left. Our engagment and productivity soared.
So if your employee base looks like this: