| Many companies are finding it increasingly difficult to | | | | important! It is best of the candidate shares the |
| retain employees. Turnover has becoming a serious | | | | same vision as the company and proposes a will to |
| problem in today's corporate environment. The | | | | follow and grow with the company. |
| employment culture is changing as more employees | | | | Another way to reduce employee turnover is to |
| are demanding more and more balance between | | | | make the company employee-oriented, focusing on |
| work and personal/family life; it is not uncommon to | | | | interactions between all levels in the organization - |
| see people changing jobs every few years. | | | | from workers, to supervisors, managers, and |
| Turnover costs for many businesses are very high, | | | | directors. If one can feel part of the company as a |
| resulting in a huge impact in the financial aspect of an | | | | whole, trust and loyalty can be built up between |
| organization. | | | | employees. Does your company's environment openly |
| Turnover costs include: | | | | encourage communications and feedbacks from |
| Recruitment costs - Job position advertising | | | | employees? |
| Training costs | | | | Attractive compensation packages also help to retain |
| Increase in workloads and overtime expenses before | | | | the employees. The top companies that have low |
| the replacement is ready to take on the responsibility | | | | employee turnover have attractive compensation |
| of the job position | | | | packages such as health and dental benefits, RRSP |
| Now because the company is short on staff, | | | | packages and healthy work environment. Many |
| productivity is reduced resulting in an overall reduction | | | | companies offer vacations packages, and other |
| in profits and growth. | | | | freebies such as free lunch, yoga courses...etc. to |
| Now I hope you get a clear idea of how serious this | | | | their employees. All these are worth considering |
| can be! | | | | reducing the impact on employee turnover. |
| This is why hiring the right people initially is extremely | | | | |