Turnover Turbulence: Understanding The Impact Of High Employee Turnover
Personnel turnover is inevitable in any
workplace. Whether it is the employee’s decision or management’s, it is not
uncommon for workers to come and go as a company expands and develops. But what
happens when turnover happens too often and at an excessive rate? Unfortunately,
the effects of high staff turnover can negatively impact a business.
Losing team members means a “brain drain”
of knowledge and experience that could have been profitable to your organization,
valuable for hiring managers and beneficial to other positions within your
company. It can also take a toll on morale, which can impact productivity and
stress levels. With that kind of reputation, it could also lead to difficulty
attracting new talent if you don’t adjust your work environment.
How Can You Prevent High Employee Turnover?
In order to reduce attrition, it is
important to recognize and understand why it happens. Sometimes workers leave
due to factors outside the company’s control, such as finding other
opportunities or personal reasons. Other times, people leave or are let go as a
result of internal circumstances, such as a negative relationship with a
manager, a difficult work environment, or a lack of opportunity for growth.
These are the aspects of high personnel turnover that a business can analyze
and change in order to improve its retention.
The good news is that when the appropriate
hiring and leadership practices are put into place, high staff turnover is
avoidable. When your management and recruitment teams are able to onboard the right
talent and effectively supervise them, your organization will have an easier
time keeping the best team around for longer. Learn more here about the
significance of your employee turnover rate, the impact it can have on the
success of your enterprise and steps you can take to mitigate it.
bio: Pam Verhoff is President of Advanced RPO, a talent
acquisition company in
Chicago, IL. Verhoff has extensive experience in building RPO businesses and
solutions, as well as developing growth strategy.