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What is the Return on Investment for solving your employee turnover?

 

There are four truths about employee turnover in every organization:

  1. It will not magically go away
  2. There are multiple root causes
  3. You will not recruit your way out of it
  4. It will cost you a lot of money until you fix it

Many companies keep hoping that they will come to work some day and their turnover problems will have somehow evaporated. They end up in a delusional mindset where they never give up on that hope but it never happens.  They look for reasons to believe that it will happen but nothing is done to make it happen. I have seen organizations do this for YEARS!

Organizations also believe that they will fix one symptom and cure the entire disease. But working on the symptom will do nothing about the multiple root causes. I have never seen an organization with only one root cause which created all of their turnover. It simply does not happen. Most organizations have turnover which spans departments and locations. This fact alone tells you there are multiple root causes.

Business owners hope their next hire or the new general manager will fix it. What I have found over the years is the next hire will just become another statistic. The new hire and the new general manager will find the same symptoms as the employees before them. Neither will know how to deal with it, identify the real problems or have any clue what the solutions are. You always end up back at square one with a lot of wasted time and money.

All of the first four truths cost money, time and effort.  This is on top of the cost of the turnover itself. In my experience,

Solving your employee turnover is less than 10% of the current annual cost

Let that sink in, your return on investment is staggering! Where else are you getting a 900% return on your money? An assessment will identify the root causes and will show a general plan going forward. This will provide you an understanding of the problem and what needs to fix it.

Are you ready to make 900%?