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ATTRITION:
THE HIGHEST COST OF DOING BUSINESS
Employee turnover is expensive. There is no other way to say
this. It costs every company in terms of training time, customer
service, trust, morale of other employees, and a host of other
less tangible things. Some employee turnover is inevitable,
but if yours is on the increase, here are some issues to look
at, and questions that management may need to ask of itself.
1.
Competitive salary
2. Employee/employer trust
3. Employee
empowerment
4. Supportiveness
5. Future career path
6. Challenge
7. Supervisors/company's attitude towards
time off
8. Benefits
9. Value To the Company
10.
Company of choice: total work environment as compared to
other area employers
If you
feel confident that your company approaches all of the above
ten in a positive way, then your management team is in great
shape and your turn over should be minimal. If you
cannot answer more than two positively, you need to address
why or continue allowing your cash to flow out at an alarming
rate.
One immediate
change you can initiate is to adjust your recruiting and hiring
practices. Hire people who are likely to be successful and hence,
satisfied. If you hire well from the start, you can train a
person to be successful in your environment. Do not choose someone
because they seem to like you and fit well with your personality.
We all have a tendency to hire those we �like�. Hire someone
who has performed similar skilled tasks in past employment.
An employee that shows a desire to learn, has previous employer
loyalty and approaches all aspects of their life with a positive
outlook is crucial. You can train a skill set, but attitude
is an aspect of our daily living.
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