Founder - NEuRDiverse, Oxford People Solutions, Your Consultancy. Making life more inclusive. Creating opportunities. Helping good people to succeed. Mum to many humans and cats. AuDHDer. Volunteer. NED.
Revisiting a Crucial Read for Leaders: The Hidden Cost of Employee Turnover 💰 ➡️ Why It Matters: Understanding these costs is more than a financial matter; it's about building a resilient and thriving workplace culture. 💡 Key Takeaway: Employee retention isn't just about numbers; it's about valuing people and their contributions. The article sheds light on how a stable workforce is a cornerstone of business success. 📌 Your Thoughts?: I'm keen to hear from fellow leaders and HR professionals. How are you tackling these challenges in your organisation? #leadership #hrchallenges #businessagility #strategicplanning #purposedriven
Understanding the High Cost of Staff Turnover 📈💼 This article dives deep into the multifaceted costs businesses face when employees leave. From recruitment and training expenses to the loss of institutional knowledge and customer relationships, the impact is more extensive than you might think. Key points include: Recruitment Costs: Advertising, background checks, and agency fees add up quickly. Salary and Benefits: Offering competitive packages to new hires can strain budgets. Training: Onboarding new staff requires significant time and resources. Productivity Loss: Adjusting to turnover leads to a temporary dip in output. Morale: High turnover can demotivate remaining staff. The piece also highlights indirect costs like customer satisfaction issues, reputational damage, and cultural impacts. It emphasizes the importance of strategies to improve employee retention. As a business leader, it's crucial to understand these hidden costs and take proactive steps to maintain a stable and motivated workforce. Investing in employee satisfaction isn't just good for your team; it's smart for your bottom line. https://lnkd.in/e9FzWbSW
