Turnover Solutions

Employee turnover is an epidemic for American business. The annual turnover rate (Wikipedia, December 2008) for all industry sectors averaged 39.6%, with rates in individual industries going much higher, e.g., Leisure and Hospitality sector = turnover of 75%. HR Professionals often quote 120-200% of the employee’s annual pay as the basic cost of turnover. A recent study by CIGNA Behavioral Health said that 45% of all workers had thought about the possibility of leaving their jobs this past year.

When reporting turnover statistics, most companies present one number for the entire workforce. But, most HR people know that presents a false picture.

Typically, turnover among first-year employees is extremely high, while turnover among veteran employees is usually quite low.

It only makes sense – if you are going to seriously address your turnover problem, focus most of your efforts on employees in their first year on the job!

• First, use the STAY Inventory to select individuals who have high potential for being able to ride out the various stresses that occur in the first year of employment.
• Second, provide Turnover Training for Front-Line Supervisors: Our training program focuses on the importance of creating a strong, personal bond between the supervisor and the new employee. Plus our training program teaches practical strategies for how to build a positive relationships with the new employee that will immunize them against thoughts of quitting.
• Third, our Online Exit Interview process can target workforce morale problems and direct your intervention strategies to zero in on the real underlying issues. Alternatively, we can come into your company to conduct Focus Groups to highlight causes of morale issues that drive turnover.

How much is turnover costing your business?