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View from the Bridge: 2 questions to ask employees (before they leave)

March 29th, 2019

 

 

 

A WORD FROM THE TOP

Dear Reader,

The cost to replace a key employee is not a new topic of conversation for most employers.  It’s a subject that gets a lot of focus and attention from HR professionals, senior executives and finance.  We know the cost of turnover is high and organizations should be working to ensure they are a workplace where people want to stay.  While there are numerous ways to do this, the following article talks about two key questions that should be asked long before anyone is heading for the door.

Another consequence of turnover is how it can potentially affect a company’s brand, both with customers and with future employees.  We’ve included a video this month to show just how negatively an unhappy employee can impact an employer’s “brand”… this video has been viewed almost 7 million times!  At Vertical Bridge we love to work with our clients to ensure that they never end up in a video like this one!

Happy Spring Break to everyone….

Sandra Reder, CPC
President

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CUT LOSSES BY ASKING EMPLOYEES THESE TWO QUESTIONS (BEFORE THEY LEAVE)

Credit: Marcel Schwantes, Inc.

Study has concluded that voluntary turnover in this country is ‘self-inflicted’ and could be easily avoided.

One harsh truth in the human capital space has remained true for over two decades: 70 percent of U.S. employees are disengaged in their work and workplace right now.

It should come as no surprise that, according to a report by Gallup, 51 percent of American workers are actively looking for a different job or watching for openings.

Gallup says that those who have already jumped ship have cost U.S. businesses $1 trillion.

If you’re a number-crunching CFO and your company has high turnover, you’re sweating bullets. Do the math: The cost of replacing a single employee can be anywhere between one-half to twice that employee’s annual salary.

There are other hidden costs that come with a voluntary turnover–a decline in team morale, distrust in management, uncertainty about the future, and unhappy customers.

Ask 2 important questions to stop the bleeding.
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HIS IS CRAZY!

An employer’s nightmare:Meet Joey. He quit his hotel job with a marching band in tow.

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