Work and Life - Minimize Turnover

20% : the average yearly turnover
Out of 10 people in a room 2 will not be here next year. Which ones???

200% : on average annual salary to replace an employee

Consider interviews, job posting, admin fees, training, knowledge management losses, productivity losses, contagion factor, client stress, etc.

So yes, losing employees costs you money :))...

What to do? What to do?

Create a clear retention strategy.
Partner with expert companies that can help you control and minimize the turnover rate. Demand accountability and a roi analysis on their services.

Don't: Try to do it yourself.
Don't: Get some complex and costly software system that will make you waste more managing it than its benefits.
Don't: Deal with assessment companies unless they guarantee the turnover reduction. There are plenty of companies that use unprofessional assessments and have no expertise on designing a tailored solution for your company.

Understand that the human capital is the most important asset your company has.

Talk the talk and walk the walk. This is a win-win situation.

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Octavian Mihai