It is possible that many companies think early turnover is just “the cost of doing business.” My recent work with the U.S. Census Bureau makes clear that there are fewer new workers coming our way, so I think it is time that we get a lot smarter about who we hire and how we retain them. Here are four ideas that I promise will work because if you don’t address it now, turnover may just cost you your business.
A Few Silver Linings
This is a hard time to work in HR. Managing the logistics of who works from home, who/how do we pay, learning & applying new legislation on the fly, and helping our organizations make emergency business decisions are all impacting our energy, patience, and sleep. And we have our own health and the welfare of our families to supposedly put first.
Compounding all this is we are emotional creatures first, and we chose HR in part due to our sense of empathy and care. As one HR executive said to me this morning, “I’m going to go give blood because I have to do something good”.
While it’s hard to see past today, some stability will return in a week or two, at least more stability than we have right now. And that will bring opportunity to take stock.
Not all industries are taking a hit. The Wall Street Journal reported today that Amazon is hiring 100,000 workers, while the meat processing industry is so overwhelmed with work that they will be slowed by any employees who become ill. For those of us whose employees are now working from home or have idle time, they are taking stock, too. And while some might be eager to return to normal work with your company, some others might be exploring online opportunities to leave.
As you, too, take stock, and your daily schedule becomes less compulsive, consider if you’d like our help retaining your team, cutting turnover, and being ready for the major bounce-back of full employment down the road. Some of our large-company clients are immediately implementing our full solution set beginning with The Rethinking Retention Executive Summit, facilitated remotely, where we identify turnover’s cost and develop retention goals and accountabilities…followed by onsite Stay Interview training later. You can learn more about the Summit here: https://c-suiteanalytics.com/solutions/re-thinking-retention-executive-summit/
Other smaller companies and non-profits are developing retention skills via our Stay Interview Expert online retention course. https://www.finneganinstitute.com/courses-catalog/
We Cut Turnover…and we do so in good times and bad. If you are serious about cutting turnover, based on your most recent turnover trends or coronavirus concerns, let’s talk now. Call us at 844-738-2468 or email solutions@c-suiteanalytics.com
Be sure to put you and your family first. Take care.