Consider all this when an employee leaves your organization:

Costs of replacing the average employee is at least 21% of their annual salary due to direct costs (exit interviews, severance, unemployment tax, overtime or temporary staffing, recruitment, agency fees, employment testing, training and orientation). What is not counted are indirect costs (lost productivity due to short staff and reduced morale, costs incurred due to errors of new employee, lost clients, loss of historical/organizational knowledge)

Costs are disproportionately higher for executives, which run up to 213% of annual salary.

The cost to provide retention strategies average less than 10% off annual salaries.

The global talent shortage is now the highest in 10 years making replacement even more difficult with an overall loss in production for the organization.

More employees leave voluntarily (20%) than are terminated (16%).

In 2016 the median length of time employees stayed with their employer was 4.2 years. This is expected to shorten due to competition for talent and unfulfilled staff expectations.

• • Over 75% of voluntary turnover is preventable.
    • • 33% leave due to lack of career development or the job not matching expectations.
    • • 21% leave for better opportunities to learn or be challenged
    • 12% due to lack of work life balance

• Annual turnover is at epidemic proportions (20-90%) and in some industries it directly affects their service, brand, and bottom line.

The revolving door of employee turnover can be managed into retention. In fact, retention strategies cost less than 10% of each annual salary. In addition to the down productivity time, turnover is likely costing you 20-200% of each annual salary that you replace.

The post Staff / Employee Turnover appeared first on Energrowth Coaching - Leadership Coach.

Decreasing employee turnover? High turnover numbers are a warning sign that the culture is toxic

 Off-The-Charts Personal Drama

Lethality is apparent when the individual show is off the outlines and everybody is by all accounts competing for a featuring job, paying little respect to the mischief it does to profitability or organization objectives. Your initial step is to rapidly evaluate and fire the representatives who are the greatest supporters of this circumstance, paying little respect to their reputation.

Click here to read the full article!

The post Forbes: Nine Warning Signs Your Corporate Culture Is In Trouble appeared first on Energrowth Coaching - Leadership Coach.