Serious researches were commended to show the impact on revenue and expenses one company could experience with a change of staff.
When compared old vs. new employee, expenses costs in training, salary, and taxes are 1,5 times higher per every new employee. The obvious reason why keeping your working power tied to you is crucial for successful operation.
HR Kit, positioned on the market as an employee engagement specialist, can give your business answer on what you can do if your company is hit by this global problem. As well as how employee turnover crisis will affect your organization.
Gallup media recently run the survey about this topic, in which we’ve seen that 85% of laborers across the globe leave their employers due to lack of engagement with management or company itself. Monetization of employees’ effort on duty comes after.
We want to emphasize cruciality on how to detect and resolve this ever-growing problem majori-ty organization experience on a global scale.
If your company will engage employees in one harmonious whole, even with a better financial offer from the third party, the bond between company and staff will be so strong they’ll avoid cut-ting it for a few hundred more in their pockets.
Though this is not precise math, we still could calculate roughly the costs for just one employee turnover. Three things before calculation begins shall betake, country of origin, and size of the organization together with salary employee had.
As we already mentioned, major researches showed the cost may vary from 0,5 to enormous two times annual salary costs when turnover takes a place.
What makes these expenses so high? First of all unemployment taxes and severance pay. Fol-lowed by overtime other employees should commend during the employment process. All the way to exit interview and recruitment costs, coaching, and onboarding new employees.
Following the default-like line, most prone to staff turnover are organizations like retail, logistic, manufacturing, or hospitality. Healthcare also.
Let’s concentrate for a moment on numbers, as they could tell us where mistakes are hidden. Research uncovered a devastating truth, where some of 75% of organizations communicate to workers through emails. Others except for email, widely use intranets ( more than 50% ), news-letters ( some 25% ), and on print-mailers ( around 20% ). When we know limitation or no access at all to workers outside of the office or far away from desks, it’s obvious from where disengage-ment comes.
Now as the problem is addressed in a manner that gives you room to react fast and sharp towards the problem, let’s concentrate on solutions.
We live in an era of digitalization. Today, even families communicate more through social net-works than on Sunday family lunch. And still keep their engagement to the highest peak. There-with we can map the model to employees within one organization.
As everyone today has a smartphone, interaction with your workforce through applications will bring that personal thread.
This way you’ll keep them feel bonded on a more personal level to the company, than with con-ventional ways.
Also, ask your workers for opinions. Or for problem solutions. This way you’ll show they are an important part of your business, and not one of many 8-17 laborers. Being part of the process of resolving problems, or finding solutions boosts their confidence. At the same time increases the willingness to give more than 100% at the workplace rather than to search for a new one.
Give rewards. Verbal, written, in funds, or as a free day. It really doesn’t matter. Some surveys have shown 99% of workers’ desire for recognition for their effort is above salary rise. It is in our core to feel important and valuable. Show appreciation to all the hard work they produce and you’ll be paid off with 110% effort by your team.
Being a mobile platform, ease accessible to clients by one click, our capability to unite man-agement with workforce had a strong impact from amortization to eventually entirely root up staff turnover.
Our background history in which we were involved in industries like retail, hospitality, manufacturing, or healthcare, where we were adjusting and upgrading communication and creating an engaged relationship between the company and her employees position us as a help clients should always ask for. Cases of studies that we conducted tell the story of trans-formative power HR Kit poses.
HR KIT is a mobile employee engagement solution you can fit in your pocket. HR KIT can help your employees to feel part of something greater, increase their overall engagement in their work and feel proud to be a part of your company