There are costs to employee turnover – some obvious and quantifiable, and others that are opaque and difficult to sum. This leads to the question: what is your cost of employee turnover? What kind of toll does it take on your business when you lose an employee?
Why are my people so unreliable? Sure, some individuals are great hires and intimately understand everything about the business, show up early and stay late. On the other hand, it feels as though you can’t trust anyone but yourself.
It seems like everyone has problems, but no solutions. You often feel like you’re the only one with a fire extinguisher. You question yourself, “Why can’t my business run without me? Why do my employees need me to hold their hands? When can I take a day off?”
We had owned one of our companies for well over a decade and in the last few years, transformed it into a high-energy, high-performance culture. Through this process of transforming our business, we found the key to running a successful organization is to have a culture based on a shared set of clear values and beliefs.
Keeping good employees has become a challenge for many businesses and we all know that employee turnover has a significant impact on the organization. To make matters worse, there are new dynamics in the marketplace that make keeping your employees more difficult than ever.
I could count on one hand the number of people who chose to leave our company over the last decade. People at the lowest and highest levels of the business were empowered by the culture and consistently performed at an exceptional level. The result was a team fiercely dedicated to our values and our mission to be the best in our industry.