How much does your employee turnover cost you? Double it!!
When CEOs estimate their turnover costs
The actual cost is generally 2 to 3 times their estimate
Money swirling into a bottomless pit
Employee turnover is killing my business
What 5 strategies reduce turnover in the first 6 months of employment?
Equifax states that 40% of all employee turnover happens in the first six months. Another 16% happens in the next six months. Therefore 56% of all turnover happens in the first year. Imagine the amount of time and money being spent to recruit, hire and train 56% of your employees who will not be with you in a year.
There are two types of turnover:
90% of exit interviews are deceptive - 5 strategies to learn the truth
“There was no relationship between the reasons given for leaving
the organization on the exit interview and in the survey."
- Validity of exit interviews
Richard A. Feinberg, Nina Jeppeson
Purdue University
People Profits Principle #87
Exit interviews do not get to the truth 90% of the time
Why would an employee who is leaving not tell us the real reason?
Employee value drives engagement - yes you read that right
Employee value drives employee engagement - yes you read that right View this email in your browser
People Profits is redefining HR - by rejecting the mindset that created HR. We assist our clients by injecting fundamental business and financial principles into the HR function - which transforms HR from a COST center into a PROFIT center.
Bags of Money - Part two
The Cost of Turnover
People Profits has shown an amazing ability to save Bags of MoneyTm for our clients by properly formulating and implementing an integrated Human Capital Strategy and Plan. If you have been following People Profits you will know that the seven elements of Human Capital Management can work synergistically like a wheel or can conflict and tear each other apart. This conflict costs you and your business A LOT OF MONEY!!