This may come as a surprise to you, but throwing money or gifts at people isn't enough to keep them on the job. If they don't like the company, the people they work with, the boss or the way that they're treated, they will still leave.

Losing employees is very expensive. Studies have found that the cost of replacing lost talent is 70 to 200 percent of that person's annual salary. Expenses include recruiting, orientation and training, lost productivity during that period, and even lost customers due to the changes. Finding and training great employees is a major investment.

What can a company do to prevent them from walking out the back door and going to competitors?

Study after study shows that people leave because of their direct supervisors, more than any other reason. It is the manager who more than anyone else can do something about retaining workers because they, more than anyone else, are responsible for creating a satisfactory working environment.

However, studies also show that 9 out of 10 managers think people stay or go because of money.  This continues to show up in research, in spite of the fact that people leaving jobs give different reasons. Money and perks matter, but employees report that what they want most is challenging, meaningful work, a good boss, and an opportunity for learning and development.

Finding solutions to employee retention means more profitable companies, happier, more productive employees, and more satisfied customers.

 

There is no one-size-fits all retention formula, but there several key ingredients that need to be present for long-term employee satisfaction.

In this workshop for business owners and managers you will learn those key ingredients and how you can implement them in your business, so you can find good employees and keep them around for a long, long time.

See calendar for next presentation