RGP’s Post

Data from the Conference Board shows that employees who switched jobs during the early days of the pandemic are less happy than those who remained in their roles. According to the report, job satisfaction rates rise once employees reach the three-year mark in their roles. Read more in CFO Dive. https://lnkd.in/eN__9eeW #EmployeeRetention #EmployeeSatisfaction #HR

52% of CFOs Say Employee Turnover Remains a Top Problem: Trial Balance Data from the Conference Board shows that employees who switched jobs during the early days of the pandemic are less happy than those who remained in their roles. According to the report, job satisfaction rates rise once employees reach the three-year mark in their roles. Read more in CFO Dive. https://lnkd.in/gkjR32dZ #EmployeeRetention #EmployeeSatisfaction #HR

52% of CFOs Say Employee Turnover Remains a Top Problem: Trial Balance Data from the Conference Board shows that employees who switched jobs during the early days of the pandemic are less happy than those who remained in their roles. According to the report, job satisfaction rates rise once employees reach the three-year mark in their roles. Read more in CFO Dive. https://lnkd.in/eZ3cCfuS #EmployeeRetention #EmployeeSatisfaction #HR

Did you or someone you know quit their job during the pandemic? More than half of surveyed finance chiefs are still battling employee turnover, according to a new CFO poll from CFO Dive. #2024trends #2024data #executivesearch #recruitment #cfo #csuiteconversations #csuiteimpact #workculture #turnover #finance #executivefunction #employee https://lnkd.in/gqweg3hY

💸Why companies need to look beyond the “clean” numbers into the hidden costs of employee attrition and engagement and why people's focus matters! Finance departments often focus on clean, measurable figures like profits, budgets, and salaries. But there’s more to the balance sheet than just visible costs. Employee attrition, failed onboarding, and disengagement can quietly drain company resources, especially when the people leaving are informal leaders or culture drivers. Did you know replacing an employee costs 50%-200% of their salary. A mid-level employee earning 600,000 DKK annually can cost up to 1.2 million DKK to replace. Finance often misses the bigger picture—losing people who influence culture and innovation is far more expensive than replacing a title on paper (Korn Ferry | Organizational Consulting)(Novo Insights). Recruitment, lost productivity, and rebuilding team dynamics are costly to the business, far beyond what’s typically budgeted. What is more to know is that disengaged employees cost businesses 3-4 trillion DKK annually in lost productivity. Engaged teams, however, are 21% more profitable and show 41% lower absenteeism, leading to higher output with fewer resources. 🎶💖Retention, onboarding, and engagement are not just HR issues—they're bottom-line issues. People are your best long-term investment this coming from one who have banking background, an Executive MBA (read financial background) and now making sure departments deliver via the people agenda. #PeopleAndCulture #EmployeeEngagement #Leadership #Retention #Onboarding #BusinessGrowth

It's always important to know what attracts and retains employees. The recent Gartner survey shows (no surprise) that finance employees desire compensation most. See what the other most cited attraction drivers among finance employees are in this quick read.

Did you know that attrition rates can double during separation, with 17% of employees leaving their jobs without the right support? Replacing them costs about 1.5 times their salary—a huge hit to your bottom line. Supporting your team through relationship breakdowns isn’t just about care; it’s a smart business move. Integrate tailored support into your EAP to help retain talent and reduce costs. https://loom.ly/ZQ6Nows #EmployeeRetention #SupportYourTeam #SepGuidePlan

One of the most significant pitfalls in managing a consultancy firm is making sweeping salary increases without concrete growth projections for the coming year. While it's tempting to stay ahead of the market and inflation, ensuring employee satisfaction, there's a hidden risk: employees may feel they can achieve advancement without the corresponding effort, essentially being rewarded in advance. This approach, often likened to socialist measures, can be detrimental to the health of an entrepreneurial company. As "The Economist" notes, "socialism in a capitalist company can undermine its very foundation." Similarly, nurturing activism over business acumen during paid work hours diverts valuable resources from shareholders without their consent, leading to a decrease in client focus and business growth. Drawing from "Why CEOs Fail," it's evident that, “a CEO’s downfall often stems from decisions that prioritize short-term employee contentment over long-term business sustainability.” Investing in ideology rather than business expertise not only misallocates resources but also risks cultivating a workforce less focused on delivering results. In conclusion, while employee well-being is crucial, it’s essential to balance it with sustainable business growth. After all, "A company’s success hinges on aligning the interests of its employees with its long-term objectives" (#Leadership, #BusinessGrowth, #CEOAdvice, #ConsultingStrategy). #PublicAffairsSolutions #CodrinScutaru

Downsizing in business can be a complex decision, and its impact extends beyond financial considerations. While reducing the number of employees may initially save costs, it's essential to approach it with empathy, especially for those with lower salaries. Focusing on retaining valuable, higher-paid employees ensures the company's expertise and productivity. Striking a balance between cost-cutting measures and maintaining a supportive work environment is crucial for long-term success. #EmployeeWellbeing #SympathyForAll #StrategicDecisions