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It's
no secret that satisfied employees make better employees. While employee
satisfaction is not the only ingredient needed for organizational
performance, it is a prerequisite for performance and retention. While
this makes sense intuitively (satisfied employees work harder and better),
extensive research now validates that organizations which exhibit high
levels of employee satisfaction, have correspondingly high levels of employee
performance, profitability, and client satisfaction. For a free research
report, click here.
Conversely, organizations with low employee morale and motivation not
only exhibit decreased productivity and performance, but typically experience
a situation where the least desirable employees are the ones who are most
likely to remain with the organization, while the strong performers move
elsewhere. Meanwhile, these organization's are left to suffer the direct
and indirect costs of employee turnover.
Direct
Costs of turnover that can be measured
directly fall into two categories; separation costs and replacement
costs. Separation costs include severance pay, costs associated
with lost organizational productivity, and possible litigation costs,
particularly for involuntary separation. Replacement costs are the well-known
costs of a hire, including sourcing expenses, HR processing costs for
screening and assessing candidates, the time spent by hiring managers
interviewing candidates, travel and relocation expenses, signing bonuses
(if applicable), and orientation and training costs.
Indirect
Costs of turnover can be even more
significant. Valuable intellectual capital is lost, resulting in a general
loss of productivity. Employee
morale and productivity is also adversely impacted.
Fortunately,
this problem can be corrected. But the first step is identifying the root
causes of low employee morale and/or motivation. This can be
done through interviews, surveys,
and/or focus groups. Once root
causes are identified, The Crossroads Group can help your organizations
to implement the right solutions and restore a work environment conducive
towards strong organizational performance and customer service.
If you sense that employees are not performing optimally, or if you are
having issues related to retention, please Contact
us now for more information.
Click
Here to View A Sample Report
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