Employee Retention
The cost of employee turnover is significant and can often be avoided. It’s estimated that the financial cost associated with employee turnover is approximately one-and-a-half times the employee’s annual salary, but that’s only part of the cost. Employee turnover can also negatively impact a company in terms of decreased morale, momentum, time and resources. Employee retention can be improved in three important ways: 1. Utilizing proven hiring practices such as relevant assessment tools and interview strategies. The investment of time and resources into the hiring process typically increases the quality of hiring decisions thus resulting in the acquisition and retention of quality employees . 2. Evaluating the “goodness-of-fit” between an employee and their primary work responsibilities. Employees will often leave or be terminated before the circumstances surrounding “the problem" is fully evaluated. Many times, creative solutions can be applied that effectively address interpersonal and/or performance issues. 3. Identifying potential organizational and/or managerial problems. Thoroughly assessing potential “blind spots” in these areas can often result in better communication, greater quality resources, clarity of business objectives and improved interpersonal relationships. If you want to improve employee retention while avoiding the high cost associated with turnover, contact Relational Advantage today for your free initial consultation. 
