In this episode Dan and Renay talk about the cost of turnover to an organization. Financially the average is 12-40% of pre-tax income. However, the larger cost is the human cost which can be found in lower productivity and morale of the organization’s people.
Over 11 episodes, Dan Schneider a Partner of The Rawls Group and Renay Winston President of People 1 discuss turnover, the impact to the organization, the cause and how to avoid it.
As you listen to this episode you will walk away with key take a-ways and may want more. Click to visit the “Turnover: Causes and How to Increase Retention topic page to easily access the additional episodes in the series.
Other topics discussed in the series:
- Episode 2: Why do organizations suffer turnover?
- Episode 3: Is turnover avoidable?
- Episode 4: How can an organization develop an environment to minimize turnover?
- Episode 5: What is one of the biggest mistakes employers make when retaining key talent?
- Episode 6: What can organizations do to retain key employees?
- Episode 7: Should organizations intentionally review their talent?
- Episode 8: When unemployment is low, what is the impact to organizations ability to retain talent?
- Episode 9: Do employees leave the organization or their boss?
- Episode 10: What recommendations do you have for organizations to recruit and retain key talent?
- Episode 11: What is one key thing to start doing to recruit and retain key talent?
Business value is tied to performance. Top talent, strategic vendors, and creditors will be influenced by the organization’s competitive advantage in the marketplace. Traditionally, transitions generally bring with it a drop in profits. It is crucial that your business is operating at peak performance in order to fulfill cash flow needs and expectations during times of transition.
Click the following links for more drill-down resources on Business Performance.
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