Like this article? PLEASE +1 it! Evan Signature
Evan Carmichael Top Header about About Home Profiles articles Tools forums inspirational quotes About facebook Twitter YouTube Blog

employee turnover rate Tagged Articles



Lesson #4: Pull For Your People
“The way we have built our company by including the success of the company with everyone in it and not leaving our people behind is a great example of building a business the right way,” says Schultz. “We’re not ever going to turn our backs on our [employees].”

Use Math to Create Loyalty
This week's tip comes from my friend Chip Conley, author of the new book "Peak: How Great Companies Get Their Mojo from Maslow" and CEO of Joie de Vivre hotels. Many people have told me and Chip that we were separated at birth in terms of our approach to business and life.

Other employee turnover rate Related Articles

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?

Tackling The Truth Of Turnover
When it comes to understanding their employee turnover, many employers don't know what they don't know. And just when they think they know, there's usually something else.

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.
The Interview Process in a Nutshell
Have you ever thought about the full cost of hiring a new employee? There are the obvious costs: placing an ad, the wages spent on time looking at resumes and conducting interviews, pre-employment physical, reference checks. Then there are the less obvious costs: wages for training time of both the trainer and new employee, lost productivity while the position is vacant, lost productivity while the new employee learns and gets up to speed, the cost of mistakes. When you add it all up it definitely motivates you to minimize employee turnover, doesn’t it? And there are many strategies an employer can utilize to create an environment that inspires employee loyalty. But the first and most important step is making the right hiring decision.

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.
Featured Article

Bottom Footer



Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Name:
Email:
Popular Articles

20 MORE Must-Have Search Engine Marketing Tools

Link Pyramids

What To Do With a Troublemaker?
Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.