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business turnover Tagged Articles



Why Do So Many Business People Ignore The 80-20 Rule?
I was discussing Richard Koch's book "The 80/20 Principle: The Secret of Achieving More with Less!" with a client yesterday and it became apparent that lots of business people are either not aware of this concept, or do not know how to relate it to their business. Richard says that 80% of our results come from 20% of our activities. This can be seen to be true in just about any business I have had any involvement with as an Accountant and is something I continually tell people to look out for.
How a Bookkeeper Can Help Your Cash Flow
Many small business owners struggle with keeping their bookwork up to date. Yet good record keeping is an essential part of any successful small business.How can you make an informed decision about your business if you don’t know where you are at financially with your business?

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Strategic Thinking To Develop A Successful Employee Retention Strategy According To Your Strategic Thinking Business Coach
Look around you in today’s business world. It is no secret that it is becoming more difficult to recruit and retain skilled employees. In fact, one could say that select businesses and industries are desperate or becoming desperate to find people with the needed skills and attitudes. Okay – what about your business? Have you anticipated and responded to the challenge of employee retention? Or are you like too many businesses that do not focus on employee retention until turnover increases. The successful businesses today have a formalized employee retention program as part of their business strategy. They take a proactive approach to prevent unnecessary employee turnover. Your strategic thinking business coach suggests that you use some strategic thinking to develop a successful employee retention strategy.

The Perfect Fit
Have you looked at your selection processes recently? What is your staff turnover like? “Let's assume the average salary of employees in a given company is $50,000 per year. Taking the cost of turnover at 150% of salary, the cost of turnover is then $75,000 per employee who leaves the company. For the mid-sized company of 1,000 employees who has a 10% annual rate of turnover, the annual cost of turnover is $7.5 million!” * So how do you go about ensuring you select the right staff, who will fit well with your organisation, and who will stay with you?

Turnover, what does it cost?
Reducing turnover is a critical step in improving your resiliance during tough economic times. However, Retducing turnover isn't enough, you must retain the right employees. This is the first section in a four part white paper on reducing employee turnover.
Understanding and Calculating the Cost of Turnover
A brief look at how one determines their turnover rate. Another article details the causes of turnover and how to reduce it's impact on your organization.
How to Attract and Keep Productive Employees
It's been shown time after time that there is a high positive correlation between employee commitment/productivity and reduced turnover. A stable, low turnover work force produces significantly more. All the secrets are revealed here.
Employee Turnover - What is it costing you?
In today's economy it is more important than ever to avoid turnover. Turnover is extremely costly. These are the factors you need to consider when estimating what the bottom line is when it comes to calculating turnover.
Is slash and burn the right strategy for your business?
When the economic downturn first started to impact John’s business he was quick to act. First signs that turnover was dropping caused John to focus on his biggest overhead – the wage bill. A swift round of redundancies gave immediate relief and he was able to sustain profit levels on an even keel. Six months later, however, turnover had dropped even further and he was facing a personal grievance claim from one of his employee’s with a possible payout of $1000s.

Incorrectly Assessing A Job Applicant's Motivation
In today's highly competitive and turbulent business environment, hiring average employees can spell "failure". Companies can not afford mediocrity while their competitors are striving to be the best. Hiring impacts profits in more ways than most companies realize. A Harvard Business School study determined that more than 75% of turnover could be traced back to poor hiring practices. The decision to hire -or not to hire- plays a significant role in turnover. The leading contributor to turnover is often not what happens after the employee is hired, but rather the process leading up to it. And turnover is not always bad if it's a bad hire that's leaving. You have to wonder if you really are hiring the best we can.
10 Keys for Reducing Turnover
One of the most daunting problems in any organization is turnover. It can cost a business millions of dollars a year and is incredibly disruptive. Reducing turnover should be a high priority activity for every organization, and it is not hard to figure out ways to do it. 1. Develop People 2. Recognize Good Performance 3. Build Trust 4. Reduce Boredom 5. Communicate More 6. Cross Train 7. Don't Overtax 8. Keep it Light 9. Feedback Performance 10. Train Leaders The following article describes some of the reasons why these steps can help cut down turnover significantly.

Leadership Insight: The Great Turnover Bubble
It may well become the great turnover bubble of 2011. Or maybe 2012. The turnover bubble that is referenced has been created by economic conditions that began largely in 2008 but have been festering ever since. The bubble relates to a great number of people that would like to change jobs but cannot because other jobs are not available. When those jobs become available again, the bubble will burst and we will see a large migration of talent between companies and organizations.

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