It can be helpful to differentiate between kinds of employee turnover since they can have very different effects on your business and employee retention. It allows you to proactively focus on the drivers of retention, rather than reactively attempting damage control when qualified employees are already partly or completely out of the door. Having an employee experience (EX) program is a valuable way to stay ahead of undesirable turnover. The key to maintaining a healthy and sustainable employee turnover rate is to focus on retention as a means of reducing unwanted turnover. A company with a very low employee turnover rate and the same employees year after year would quickly stagnate and fail. Careers progress, life changes, and businesses grow and adapt their company vision and strategy over time. So it’s little wonder that employee turnover is generally viewed as an unconditional negative in business.īut employee turnover is both normal and necessary. An excessive employee turnover rate is linked with low morale and customer churn, which are both expensive and undesirable. Hiring is expensive, and losing people can disrupt organizational performance. You’ll need to take a long, hard look at your retention strategies and provide employees with the tools and support they need to do their jobs efficiently and manageably – wherever they’re working.įree eBook: 2023 Employee Experience Trends What is employee turnover?Įmployee turnover is what happens when employees leave – either of their own accord or being asked to leave, perhaps following poor performance, dissolution of their role, or other organizational changes. With 44% of people saying they’ll look for a new job in the next year, as a result of The Great Resignation, organizations have to do the groundwork.
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