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.

From left, Daiana Geca, Maria C. Jorge, Angel “Peppe” Troche-Lopez, Janice Komskis, Randee Lehrer, and Samuel Edwards are serious about wellness.

As the first executive director of UHealth’s Business Development and Hospital Managed Care, Randee H. Lehrer, R.N., M.B.A., has already assembled an impressive record of results. Her success is also due to her obvious devotion to work and family, commitment to a diverse staff, belief in teamwork and, last but not least, her promotion of wellness and exercise.

Wellness coaching

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The post With Randee Lehrer in Charge, Wellness is Part of the Job appeared first on Energrowth Coaching - Leadership Coach.