Employee Retention

Employee Retention

You invest a lot of time of time, money and resources into hiring and training the right people for your company.

Your expectation is that this investment will eventually cover the cost of hiring and that each employee will produce more revenue than it costs to employ them.

This equation falls apart if enough employees leave the company prematurely.

Not only did you lose money on that employee, you now have to spend even more for their replacement and operate at diminished capacity until that replacement is hired and brought up to full speed.

There can be a number of factors that can cause this costly trend, including:

  • Overall corporate culture
  • Training issues
  • Management recognition of employee job performance
  • Relationship with the boss
  • Opportunity to use their skills and abilities
  • Boredom with the work

You’ll notice that compensation wasn’t on the list. Typically, money isn’t the driving issue for leaving.

Employee productivity

The second part of the equation for hiring new personnel is that they will produce enough revenue to justify their role.

Even if employees aren’t leaving, there can be a number of circumstances (including those on the list) that can reduce productivity—ultimately hurting the bottom line.

Experienced outside eyes

The components that are causing employee attrition and diminished productivity can be difficult for management to recognize because they develop gradually over time. The deterioration can occur so slowly that the problems are overlooked and accepted as “just the way we do business.”

There have been many times we have been called in to help a company fix other issues in their business only to find glaring problems with employee attrition and low productivity that weren’t even on management’s radar.

In addition, it requires an outside group and a guarantee of zero retribution to fully uncover the true sources of the problem. Otherwise employees are too hesitant to speak freely about their perceptions.

This doesn’t mean policy decisions are made based on comments from one or two outlier workers, but it’s amazing how clearly patterns can form across the entire employee population.

In this case, perception is reality.

If you’re having trouble achieving the company growth you want, you may have an employee attrition or reduced productivity problem.

We know how to recognize the symptoms, identify the underlying issues and create a customized employee retention and productivity program that will break the current cycle and put you on a path to real, sustainable growth going forward.

Send an email to info@turnaroundtwins.com or give us a call at 214.414.9014 to set up a free, no-obligation, one-hour call to discuss what’s going on and how we may be able to help you change the trajectory of your company.