One in five of your staff is expecting to change jobs in the next year. To many, the pandemic, and changes in their working regime, have been an eyeopener.
Most of them want to change their manager as they love their job! They did apply to do it, after all.
Replacing staff costs money. There is the obvious cost of the recruitment process, paying agencies, advertisements and the additional costs due to the workload of your selection processes.
You will have to train the new recruit and accept a steady build-up of effectiveness over weeks. All causing lost performance which you may cover with premium rate additional hours.
Alternatively, you may employ more people than you need so you have built in cover for your employee turnover. Good for you that I’m not your MD.
Take a minute to work out the cost of replacing someone.
This expensive process is largely driven by one factor: most job changers are seeking to leave their boss, not their job.
To make matters worse, a large percentage of new starters feel they made a mistake and start looking again after four weeks with their new employer! Did I mention a good induction process? Nothing worse that realizing the warm welcome at the interview was just marketing.
Inappropriate managerial behaviour simply drives staff away.
You will find the unauthorised absence rate is a leading indicator of staff turnover.
If people can’t be bothered to get out of bed, for the slightest excuse, then sooner or later they will be leaving you.
Exit interviews should be a good way of finding out why people want to leave.
But if the leaver hasn’t been able to tell you while in your employ, why would they go through the hassle of telling you now?
If you need help with this epidemic, let’s talk.
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