We at YES! Your Human Resources Solution know that employee turnover doesn’t have to be bad for business.  New employees can bring fresh ideas, different skills, and renewed enthusiasm to a company’s arsenal.  But when employee turnover happens at an unusually high or constant pace, the drawbacks can outweigh the benefits, costing the company time and money.  These monetary costs won’t be reflected in any one budget line item, but they’ll make themselves known in the company’s bottom line, impacting:

• Recruitment.  When an employee leaves, a new employee must be hired—a drill managers and HR professionals know all too well.  All that advertising, résumé reading, and interviewing may not seem like much, but when each recruitment effort costs time and money, frequent recruiting can really affect the company’s bottom line.
• Productivity.  Every time an employee separates from the company, it creates a vacancy.  That means the work that person used to do is either not getting done or is getting done by another employee, possibly impacting that person’s regular duties.  Additionally, HR staff is pulled away from focusing on professional development and other company goals, so they can timely fill the position.  When the vacancy is filled, additional time must be spent training the new employee.
• Employee Morale.  In itself, this can be a reason for high employee turnover that if left unchecked can quickly become a self-feeding cycle.  Just look at job arenas, such as the public sector, that are experiencing high volumes of layoffs and hiring freezes.  Someone has to pick up those extra duties, so the remaining staff ends up burdened by an unusually heavy workload.  Over time, this can result in higher stress levels and can impact employee wellness, attendance, work quality, and productivity.  Unhappy employees tend to look for work elsewhere, which can lead to even lower retention rates and employee morale.

Don’t let employee turnover cost your company!  If employee retention is a struggle for your business, let the HR consultants at YES! Your Human Resources Solution lend a hand.  We can assist with innovative ways to keep your employees on board.  Just look what we did for this consumer products distribution company.  In the face of high turnover in the company’s call center, YES! reviewed the company’s sourcing and selection practices and designed an approach that included online behavioral assessment tools.  We also expanded the candidate pool using diverse and innovative sources.  Something as simple as talking to employees can go a long way toward saving the company’s bottom line, and can impress employees by your willingness to investigate.  Remember, if employee turnover is a consistent problem, it will continue to be an issue until the source reasons are discovered and remedied.

Are you ready to discover the power of saying “YES!”?  Then visit our website or call us today for a free assessment of how we can help your business thrive into the future!