The Staggering Cost of Employee Turnover

Australian Staff Turnover Costs $20 billion per annum!!

 Can your organisation afford to not focus on employee retention?

In a recent AHRI survey 64% of organisations reported struggling with retaining staff with a convincing majority also reporting that it had a direct (and negative) impact on the organisations effectiveness and the bottom line.

It has been my observation that organisations are still not allocating sufficient resources to the retention of their staff.  Some may argue that you have to attract before you can retain or that it doesn't matter what you do first (a bit like the chicken or the egg debate) but I see it differently.  They say (and I agree) that "A bird in the hand is worth two in the bush."  What do I mean by that?  Simply this.  The staff you already have, the ones working in your organisations right now,  are the most powerful and valuable employer branding / marketing tool you have. 

Focus on improving their Satisfaction@Work and you will create a powerfully magnetic affect in your organisation.  Don't spend all your time worry about your selection processes or how sexy your advertising is.  Walk your talk by delivering to your existing workforce.  They'll do the marketing for you.  I promise.

 

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