We all know high levels of employees entering and leaving a business is costly and disruptive. In addition, an inexperienced, ever-changing workforce can impact on brand integrity and ultimately sales – especially in customer-facing industries.
Certain industries, such as hospitality, retail and airline cabin crew, have naturally high employee turnover. Some industries want such a turnover – but most don’t.
Poor leadership is a major cause of high employee turnover
One element that always has a detrimental impact on employee turnover is poor leadership. An unhappy employee will soon start looking elsewhere for a rewarding job in which to develop a brighter future. Whereas, a happy employee can remain hardworking and loyal – even through tough times.
Be ‘the one’ to work for!
Lower turnover via an engaged workforce means reduced costs in recruitment, paperwork and training – but it turns out it has a far richer, long-term benefit too.
Research reveals that companies who genuinely engage employees gain a reputation for being ‘the place to work’. This means they get their pick of the brightest people and graduates and such companies rarely have to settle for second best. People want to be happy at work – so any company with a track record of doing this is on a winner when it comes to recruitment.
During a recent catch up with a client at Emirates I was delighted to hear the astonishing results they are achieving with our ‘Even Better Place to Work‘ programme (show cased at this year’s CIPD L&D show), he told me “…our recruitment rates are better and people want to work for us – which makes our life easier.”
With the division’s attrition rate significantly reduced and productivity increased, due to a happier and more engaged workforce, they are now the second-happiest group in Emirates.
We have seen substantial improvements in morale, engagement and performance. As a result our attrition rate is much lower making ‘An Even Better Place to Work’ an extremely cost-effective solution.
Brendan Noonan, Senior Vice President Learning & Development, Emirates Airline Group.
Read their case study >
So if you want a company full of talent and don’t want them to leave – keeping them engaged should be your highest priority. Clients who subscribe to ‘An Even Better Place to Work‘ programme – report that it works because it engages employees to engage themselves.
A culture that nurtures happiness, productivity and growth is like a communal garden – everyone needs to take ownership and get involved. Long-term, this is a highly cost-effective, win-win situation that offers great return on investment. Not only do you get to keep the people you’ve invested so much in – but next time you hire you might just have a queue of the brightest sparks out there longing to get their foot in your company door. Now Imagine that!
Do YOUR people live to work or work to live?
Latest insights from neuroscience and positive psychology are equipping business leaders across the globe with new techniques to lead and influence others to produce new levels of organisational performance through cross-team collaboration – with astonishing results!
Get the very best from your people…
Join us for a bite-size seminar that offers a guaranteed learning experience and tangible benefits you can apply the minute you return to work.
- The blame game – does your organisation suffer from ownership issues?
- Are we happier at work or at home? The answer might surprise you!
- The praise to criticism ration – get it right!
- Foster change with the perfect performance review
- Leadership mindset – Give your employees permission to fail