Member-only story
Save Millions — Reduce Staff Turnover
3 Things Every Organisation Can Do, But Many Don’t!
If you are not a Member of Medium (you should be) but until then, you can read the full version here! 😉
“People don’t leave their organisation, they leave their manager”.
I’m not really bothered whether that is true or not. People leave organisations for many different reasons. The main thing is, as a manager, we don’t want it to apply to us.
Let me talk you through three strategies that had significant organisational impact at a time when:
- talent was in high demand,
- salaries were higher and;
- the only thing higher was staff being poached by competitors!
First Things First — can you really save millions?
Yes! Depending on the size of your organisation and turnover rate.
Let’s do some quick maths!
In many organisations, 10% is low, so this seems realistic but it will depend on the industry you are in. It also depends on whether you use agencies to find your talent.
The above, of course, does not take into account the time and lost productivity while the talent search is on.