People join companies and leave managers.
The biggest reasons for leaving are
- bad boss (often lack of training)
- not feeling loved (or appreciated or noticed)
- not learning anything new
- not being trained (which is a mixture of the above)
- not feeling progression because taking on new challenges because not learning new skills (lack of training again)
But so what? Employee turnover is inevitable, right? And some people you are GLAD to see go – right?
But what if you could reduce yours by just 10%, what would that be worth to you? Work it out here:
![This image has an empty alt attribute; its file name is Screenshot-2019-11-25-at-19.51.37-1024x87.png](https://www.chriscroft.co.uk/wp-content/uploads/Screenshot-2019-11-25-at-19.51.37-1024x87.png)
![This image has an empty alt attribute; its file name is Screenshot-2019-11-25-at-19.51.37-1024x87.png](https://www.chriscroft.co.uk/wp-content/uploads/Screenshot-2019-11-25-at-19.51.37-1024x87.png)
For detail people, here are the main assumptions I based my calculations on:
- People’s performance drops slowly from 100% to 50% before they leave,
- New people’s performance rises linearly from 50% to 100% in a new job,
- I haven’t included the cost (time and money) to train a new person,
- Instead of interviewing you could use a recruitment agency: similar cost,
- Cost of a person is double their salary cost, due to on-costs,
- I didn’t add a cost for value added / opportunity cost: peole are worth more than you pay them, otherwise why would you employ them? So when you lose them you lose more than their salary and employment cost.
- Not having someone in post adds overtime and stress on everyone else to a value of 50% of the person’s salary, e.g £10/hour hassle cost in total,
- Interviewing is done by more senior people, often more than one, so for the cost of this I will say double the average salary cost.
- Any of my numbers you don’t like, just use your own instead now I’ve got you thinking about this. However you work it out, it’s quite scary isn’t it?
The biggest thing you can do to reduce these costs?
Train your managers, and train your staff.
Contact me for more information
![This image has an empty alt attribute; its file name is Screenshot-2019-11-25-at-19.51.37-1024x87.png](https://www.chriscroft.co.uk/wp-content/uploads/Screenshot-2019-11-25-at-19.51.37-1024x87.png)
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