As we’re working to provide our best team members with a reason to stay by fulfilling their need for purpose through the work they do, I’ve never seen this be accomplished more effectively than applying the same idea I referenced to address the high cost of turnover; by breaking the...
Now that we’ve identified some of the causes of turnover, specifically the reasons great team members leave an organization voluntarily and the high costs associated with that voluntary turnover, and we’ve looked at the extended reach of those costs, let’s get to work at...
The extended reach of high turnover certainly does its part in taking the wind out of our sails when it comes to how actively we are in driving our organization forward but it also takes a toll on our entire organization’s culture - in a couple of critical ways!
Before we go into those...
So imagine you’re overseeing a team of folks with an incredibly high workload to produce for your customer and it seems like all you can get done is interview, hire, and train new employees. Some of the ones coming on board connect with the team and stick around but a high number never stay...
The high cost of turnover certainly shows up on a balance sheet because it’s a huge profitability killer, but a company’s bank account isn’t all that takes a hit when great team members are making conscious decisions to jump ship! Just as top-down leadership and poor...
For the majority of folks who are investing their time into reading this, I’m guessing you need little additional convincing to ensure you’re being intentional about addressing each of the things that made the list of top reasons for turnover… But at some point in time, each of...
Once we’ve worked through an employee turnover calculation and developed a turnover meaning that focuses on the part that’s killing our profitability, it’s time to get serious about identifying the causes! If we want to get a handle on the cost of high turnover, specifically the...
Over the last several years, I frequently referenced a study I initially found from Gallup that cited some Bureau of Labor Statistics data in saying that “According to a Gallup study, “The U.S. Bureau of Labor Statistics has found that the U.S. voluntary turnover rate is 23.4%...
With just a basic understanding of why people do what they do, Matt was about to intentionally break the golden rule with his team and avoid so many of the costs of poor communication! By following a simple pattern, he was able to begin adding fuel to a different fire… Instead of the fire...
A week or two after Matt and I had the hour-long conversation about how he could “get people to do what he told them to do,” he called again to ask what kind of voodoo magic I had taught him… Breaking the golden rule in how he was communicating with each of the individuals on...
Once we’ve come to terms with just how high the cost of poor communication can be, and how any poor communication skills existing in our organizations add fuel to other fires that are killing our profitability, we have plenty of reason to address the lack of communication between our...
Consider the 17 hours of downtime due to clarifying communications that SIS International Research study cited as an average weekly loss for companies with 100 employees. After spending close to two decades in a manufacturing environment, I see a lot through that lens. To me, that downtime...
