Breaking Down the Direct Costs of Employee Turnover

Hands counting us dollars with calculator and digital tablet

What gets measured gets managed. With the estimated costs of employee turnover ranging from 33% up to 200% of the departing employee’s salary, it is imperative for organizations to understand exactly what goes into the overall cost of employee turnover. There are multiple layers in beginning to calculate the exact costs of turnover which is… Continue reading Breaking Down the Direct Costs of Employee Turnover

Voluntary Turnover Returns as COVID Recedes

Businesswoman with protective face mask quits job due to limiting workplaces in office, during Covid-19

The latest voluntary quit (turnover) rate shows nearly twice the amount of employees quit their jobs in July 2020 than those who quit in April 2020. Even during a global pandemic, a historic recession (hopefully on a short one), high unemployment, and general fear and restlessness, U.S. workers still control the job market. Yes, that… Continue reading Voluntary Turnover Returns as COVID Recedes

Defining Employee Stay Interviews

Employees stay at organizations for different reasons than they leave, and nearly every organization is unique in the reasons employees stay.1 Therefore, Stay Interviews are common tools used in building effective employee retention strategies1. We have defined and detailed the many elements of conducting effective Stay Interviews in the Essential Guide to Conducting Stay Interviews,… Continue reading Defining Employee Stay Interviews

It is Time to Rebuild HR, Not Defund It

There is considerable talk these days that HR does not deliver the value of its capability. Additional arguments include moving HR functions into Legal, Finance, and both internal and external Marketing/Communications. Should HR functions be reassigned or defunded? Can HR deliver the value it is designed to provide? The real question is whether HR has… Continue reading It is Time to Rebuild HR, Not Defund It

Reasons Employees Quit their Job During the Coronavirus Pandemic

lose job, Youre fired. Unhappy business man with surgical medical mask going out with cardboard, looking at camera and feeling looser. Outdoor shot. business, working and health care concept.

Reasons Employees Quit their Job During the Coronavirus Pandemic We recently hosted a webinar titled “Voice of the Employee Trends During the Pandemic.”  The below quotes are based on Work Institute interviews with employees who quit their jobs based on how their organization managed the coronavirus pandemic. Employees continuously demonstrate three primary categories of reasons… Continue reading Reasons Employees Quit their Job During the Coronavirus Pandemic

Valentine’s Day and Relationship Feedback

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Valentine’s Day is here and just like any other year; it is time to check in with my significant other for our year-in-review survey. Every year on Valentine’s Day we set aside time to provide feedback to each other on our relationship. It’s a tradition we practice once a year to tell each other what’s… Continue reading Valentine’s Day and Relationship Feedback

Engagement Studies Should Help Reduce Turnover and Increase Retention. Have Yours?

Studio shot of a young businesswoman looking annoyed listening to a conversation in a waiting room against a grey background

Twenty years ago, I was invited to deliver the keynote address at a recruitment and retention conference in Las Vegas. I spoke with the event organizers to fully understand their objectives and then crafted the deliverables for my presentation entitled “The Differing Preferences, Expectations, and Intents of an Emerging Workforce.” As it came time for… Continue reading Engagement Studies Should Help Reduce Turnover and Increase Retention. Have Yours?

Employees Hold Power in Today’s Job Market

Happy confident diverse old and young business people stand together in office, smiling multiethnic professional colleagues staff group look at camera, human resource concept, team corporate portrait

The job market in today’s economy continues to prove the power employees hold. The Bureau of Labor Statistics reports 2019 closed out with a 50 year low unemployment rate of 3.5% and a whopping 7.3 million job openings. This means the majority of open jobs will be filled by employees who are currently working. Everything… Continue reading Employees Hold Power in Today’s Job Market

The Importance of the Service-Profit Chain Theory

The Service-Profit Chain is a theory and business model evolved by a group of researchers from Harvard University. In their book The Service Profit Chain – How Leading Companies Link Profit and Growth To Loyalty, Satisfaction and Value they prove the direct link between superior service experiences and customer loyalty to financial performance (profit and growth). By… Continue reading The Importance of the Service-Profit Chain Theory

Attracting & Retaining Employees Requires Rethinking Your Approach

Rearview shot of a young businesswoman scratching her head while writing down ideas on a glass wall in her office

Organizations continue to struggle with finding, attracting and retaining employees. And after they have done that, they struggle with creating the workplace conditions necessary to drive employee productivity. To manage responsibly, companies increase budgets and resources (money and people) on engagement initiatives that simply do not work. Billions of dollars are spent on employee attraction,… Continue reading Attracting & Retaining Employees Requires Rethinking Your Approach