Personnel costs are a considerable portion of any company’s budget, and high churn rates make that percentage skyrocket. Companies looking to reduce costs by improving employee retention need to take a proactive approach. Waiting until the exit interview to investigate why an employee decided to move on means the business missed out on the golden opportunity of identifying the obstacles and challenges its employees face.
Employees are the lifeblood of an organization, which is why having a strong team is critical. But we all know the battle to attract top talent can be ruthless. It’s easy for businesses to be ensnared in the vicious cycle of investing valuable resources in training and developing an employee only to lose them to a competitor. When this happens, it leaves administrators in the organization ripe with confusion and asking the question of, “why?” After all, they seemed content and satisfied in their position.
With low retention, looking at just the surface-level problems will guide you to the wrong answer and ultimately the wrong solution. In today’s competitive market, wasting precious time and resources can be a business’s undoing. However, approaching employee retention doesn’t have to be a huge undertaking. Often, a few key changes can yield significant results. A common cause for employees to leave is communication problems. We’ll look at how improved communications helps keep employees satisfied and productive.
Access to Information
Older business communication systems can make finding the right information difficult and frustrating. …