It should no longer be a secret that employee retention in companies is very low and continues to fall (see Gallup engagement studies) and that staff turnover and willingness to change
jobs is high and increasing.
But did you know how much it costs to replace an employee?
The cost of terminating an employee's employment as well as finding, recruiting and training the new employee amounts to 20 to 200% of the annual salary of that position - that's a huge amount
of money if there are many people leaving.
In average we talk about 1 yearly salary per leaving person or fluctuation case.
According to the HR study by Hays, systematic talent retention management is therefore absolutely crucial to a company's success and in these times the number one issue!
And you can only really manage something if you can measure it - as the world-famous management guru Peter Drucker once said; pragmatically, purposefully and without great effort, of course.
With the Talent Loyalty Booster©, each involved leader of a team first assesses the individual employees using a simple radar, in order to then
conduct the necessary dialog and initiate appropriate measures such as attractive trainings and coachings, a multi-year development/career plan, a project or team change or, if possible, an
assignment abroad or workation.
And we can then measure the extent to which the loyalty of entire teams or departments has really improved and the fluctuation rate or fluctuation costs have been reduced,
and profits have increased.
Contact us so that you no longer have to hear in your company: "I didn't have it on my radar that employee XY wanted to leave"...
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