Do Managers Create as Much Stress as Spouses?
The answer is “yes”, according to a new SHRM study that covers the overall impact of managers on employees’ mental health.
Is Recruiting Today a Doom Loop for Tomorrow’s Turnover?
What is the best two-word description for recruiting today? Doom Loop “a painful cycle of decline”. The recruiting doom loop can be overcome with proven smart retention practices.
CVS Waives the White Flag on Turnover
CVS and Walmart announced last week they would cut pharmacy hours “in the midst of a pharmacist shortage.” There is a “canary in the coal mine” situation happening here.
Why “Lost Productivity” Is the Highest Turnover Cost
This discussion should be especially interesting for anyone charged with reducing turnover. First, We Should be Calculating Turnover as Dollars Not Percentages Our company’s Finnegan’s Arrow model is the spine for each of our retention solutions. It’s the starting point…
How Much Can Pay Fix Turnover?
Companies that believe retention is based on pay, benefits, or any other traditional reason are dogs chasing their tails. They will never out-pay their competition for talent…but they will irritate and lose top performers by constantly raising starting pay without addressing pay compression for others.
Who Is Quitting During “The Great Resignation” and Why
PBS News released a new study last week and it reads like the same-old talk. Quit reasons include “young-people” rhetoric, reduction in hours or benefits, options to work remotely or for more flexible hours, relocation, lost their jobs, and of course the old standard, “better opportunity”. Here is a wake-up call regarding the real reasons employees are leaving.
How Important is Turnover to Your CEO?
How would your CEO rate employee turnover as a priority? “Very important” is easy to say…and easy to see. But the question is precisely how much does employee turnover impact every single aspect of our businesses? The answer to this question is critical because each organization determines how committed it is to cutting turnover.
There are 2 Ways to Cut Turnover. Which is Yours?
Let's start with, "Which method are you using to cut turnover?" This is a quiz with two possible answers, with one being right and the other being very, very wrong. And as a clue, the correct answer is based on science whereas the wrong answer is based on “best practices”.
Employee Retention Secret: Make Your CFO Your Best Friend
A CFO participated in a turnover cost study, and we determined one engineer cost his company $121,450 – and how that fit in with other expenses. The next day that CFO said he couldn’t sleep, that he went in early to extrapolate numbers and determined turnover was their second biggest cost. A game changer.
How Much Does Pay Really Impact Employee Turnover?
There is a perpetual perceived link between turnover and pay, especially in the eyes of first-line supervisors who see employees walk out the door and can’t imagine it’s because of themselves. Pay becomes a target in part because it is tangible…and always controversial.