|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.