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CareerVive | Changing the way you hire and develop your people | Recruitment | Career Coach

Termination Tax - the cost of losing an employee. When someone leaves your team, they take a part of the company with them. It could be knowledge, relationships, skills or something harder to measure like trust and the inspiration they give to other employees. Just like taxes, there are ways to minimise it, and you should minimise the bill at all costs, for example: - Listen to your staff and act on their plea to be recognised. - Create platforms for growth and opportunity - invest in L&D. - If you have expectations, show them, don't throw them. - Write and update procedures regularly - do not create key dependencies. - Resolve issues fast instead of classifying them as 'known issues'. - Speak to your staff, ask them for feedback, act on the themes of the issues - get to the root cause. Minimise your Termination Tax, or you may find yourself chasing your tail instead of chasing your competition. #retention #knowledgesharing #processes #procedures #culture #learninganddevelopment

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