The High Cost of Employee Turnover
Overcoming High Employee Turnover
I stumbled across this article while doing some reading on leadership for a future session in the Dale Carnegie Course and I was struck by its timelessness.
The headline says it all: Why Nearly Half of Workers Globally Could Leave Their Jobs in 2017.
I don’t know what the numbers were in the past, but this topic concerning high employee turnover has come up in previous years and the reasons are almost always the same: lack of leadership, poor management, lack of appreciation… It’s almost as bad as the perennial problem customers cite as their number one problem with their sales reps year after year – they talk too much and don’t listen enough!
One of the bedrock principles in the Leadership Training for Managers program is that people support a world they help create. If employees are asked questions for their input on issues and problems, they are more likely to accept and work within the environment because they have a stake in it. They’ve helped shape it, even if they only make a small contribution.
This article listed a number of principles that we teach in the Dale Carnegie Course. They are the bedrock of everything we do in the business arena. But the Leadership Training for Managers program takes these principles and connects them to direct, real world, business applications that impact your bottom line over the length of the program. This includes a session on coaching that addresses the challenges outlined in this article.
The Real Cost of Employee Turnover
I’ve been involved with Dale Carnegie Training long enough where the new business reality is starting to sound like a cliche. But we now have an environment where technology has allowed businesses, both large and small, to slim down their labor force while maintaining their output.
Think about that for a minute. Leveraging technology has allowed businesses to maintain or increase their business output with less people. Meaning that fewer people are now responsible for a greater material output of your company and can have a dramatic impact on your bottom line.
Those individuals aren’t labor anymore. They’re partners.
As a business owner, you might want to take steps to keep those individuals in place or risk taking a significant hit on your bottom line.
Here’s the FastCompany article again. Take a read and let me know what your thoughts are in the comments section below.