What is Employee Turnover Costing You

According to the Tiger Success Series:

The Cost of Low Talent Retention
Our research on the topics of engagement and retention shows that executives are concerned and that the cost of voluntary turnover is higher than many organizations understand. Specifically, more organizations do not include the cost of lost productivity or other indirect costs when they calculate the cost of turnover. Organizations could save millions of dollars per year by increasing retention by even just one percentage point.
Primary Causes of Voluntary Turnover
  • Dislike of fellow employees and leadership 41%
  • No identified career path for professional development 25%
  • No skill set development (both hard and soft skills) 13%
  • Stepping stone to better career employment 17%
  • Spouse relocation for better career employment 4%

According to this research 55% percent (2-4) of employees are seeking more learning opportunities to advance their career. This is good news for employers. When employees want to learn more to advance their careers, the indirect benefit is that they learn more and they can perform better overall. When employees perform better, they increase the likelihood for advancement but also help propel the organization forward in terms of productivity and overall success. Learning is a win-win for both employer and employee.

Investing in more learning opportunities equates to success for both employee and employer. Making learning more effective takes this concept to a new level.

How do you ensure that learning is meeting its goal of increased productivity, higher retention, and employee engagement? You do this by creating a culture of learning that is measured and constantly evaluated for improvement.

SMART Learning for Business Success helps you create a culture of learning and accountability that protects the future viability of your company.  Together, we evaluate your existing learning culture to determine how to make it more robust. The value and effectiveness of your enhanced culture of learning is measured and continually fine-tuned to keep pace with a rapidly changing workforce and competitive pressures.