![]() In order to create said culture, take a look at some specific tips you can incorporate into your retention strategy: 1. The best you can do is create a culture that makes them feel valued, seen, and cared for so that they want to stay. You can’t force them to behave with the perfect algorithm of retention. They’re not numbers, and they’re not a resource to be used. The first thing you need to keep in mind is that your employees are people. ![]() ![]() However, you should aim for a turnover rate of 10% and, according to SHRM, most companies have a rate closer to 20% (and your target turnover rate will depend on different factors, such as your industry and your internal promotion rate. Some turnover is natural-no matter what you do, employees are going to leave for various reasons. Not to mention that as more people quit, your company culture suffers as others deal with stress and extra work. Why Worry About This?ĭespite the fact that the world is almost back to normal, employees are still leaving in record numbers as they look for better opportunities. Every time an employee quits, the hiring process costs you at least one half of that employee’s annual salary (at most, this process can cost you 2X the salary of the employee who quit!). With the pandemic kicking off and many companies either closing their doors, downsizing, or trying to transition to remote work, these statistics are understandable. You probably saw this in your own experience. In 2020, every industry saw a sizable jump in turnover rates (leisure and hospitality jumped by over 51%!).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |