Talk to us today about how understanding your staff turnover can help retain your talented people.
Retention and turnover
Don’t lose the talented people you’ve worked so hard to attract and develop. Encourage them to thrive within their roles and stick with you for the long-term.
Employee turnover is disruptive and expensive
While some employee turnover is natural and even desirable, most organisations recognise the need to reduce turnover and the disruption associated with it. Losing employees is a natural part of running an organisation, but losing key people at the wrong time can cause serious setbacks to project delivery, operational efficiency and customer relationships.
The true cost of employee turnover is not well understood. Calculations of the organisational cost typically arrive at a figure of 50 to 150% of the employee’s annual remuneration, depending on the type of role, bespoke skills required and difficulty of finding a replacement.
Costs include the direct costs of recruiting, onboarding and training the new employee as well as the indirect costs of HR time, manager time, reduced team productivity, reduced customer service levels and lost sales.
Understanding what causes employee turnover
Our framework for understanding employee turnover includes four dimensions under your control and two dimensions that are largely outside your control.
The dimensions under your control are:
- Organisational alignment: feeling connected to the organisation’s purpose, direction and culture
- Role alignment: finding the job to be fulfilling and stimulating with the potential for growth
- Management/team: being supported and getting on well with manager and team
- Hygiene factors: having the necessary resources, being able to balance work and life and feeling adequately rewarded
The dimensions largely outside your control are:
- Personal reasons: experiencing changes to life circumstances (family, health, travel, retirement, etc.)
- Environmental: receiving a better job offer from another employer
Utilising this framework, we work with you to gather feedback from departing employees to understand what is happening in different parts of your organisation and to determine what can be done to address the identified issues. We can also work with you to craft a realistic and compelling employee value proposition (EVP) to attract the right people and keep them for longer.
Mapping your success
We seek to make a real difference to your organisation’s success by offering:
- A psychometrically tested and validated survey tool
- Access to relevant and extensive exit survey benchmarks
- An online reporting portal that can be accessed from anywhere 24 X 7
- Ability to self generate PDF scorecards
- Ability to administer surveys yourself if so desired
- Ability to slice and dice the data on multiple dimensions
- Support with prioritisation of improvement areas based on current performance and business impact
- Insights and solutions using evidence-based best practices
- Full-service support from a dedicated Project Manager
What our clients say
At every step of the way the Insync team provided outstanding support and expert advice, all delivered with a great sense of humour. I couldn't recommend the team more highly for all industry survey needs!