Many times during my strategy coaching calls with my clients we talk about the challenges that they are having with employee turnover. During our discussions, I am finding that there is a disconnect as to why they think their employees are leaving. Many of my clients and managers in general have preconceived notions about employee retention, engagement, and turnover. I call then myths. For example:
MYTH 1. Turnover is just about money. Of course, people want to be paid fairly, and they should be. However, that isn’t what drives them. In fact, employers think this is the #1 reason employees leave companies. This couldn’t be further from the truth.
MYTH 2. Turnover is an unavoidable part of business. Sure, some employee turnover is natural and necessary. That’s not the problem. It’s when one or two people leaving turns into 5, 6, 7 or more because you didn’t address the underlying reasons why the first few employees called it quits.
MYTH 3. Managers don’t have much control over reducing turnover. Consider this: Randstad Study found that a sizable portion of the working population would rather have a better boss than a $5k raise!
Wow! What do think about that? To drive home the point: you do have control over employee retention and turnover as a business owner and a manager. The real question is – do you know how? Use the survey below as a tool to discuss with your staff. Ask them what they think is important to them. You just might be surprised.
If you need help contact me and we can schedule a FREE Strategy Session Call to get you back on track and create a strategy to reduce employee turnover in your business. info@johnformica.com or (704) 965-4090.
