The dreaded turnover equation. Every Business Owners fear.
Helping to minimize unwanted turnover is a real concern. Having long term, well trained staff is imperative if you want to drive sales, maintain operational excellence and achieve your profit goals.
All companies struggle with turnover at some point. Some companies are so scared to have ANY turnover, they will compromise on the quality and performance of a team member to avoid it. Well here is the plain truth: "You don't control turnover, you influence it". As a business owner or manager you don't control when a team member decides to move away, go back to college, change industries, etc. So instead of fearing something you don't fully control, make sure you make the most of the things you do control: Leadership, wages, work environment, benefits, equipment, etc. Provide what you can, don't accept what you shouldn't!
Now let's consider this: Not all turnover is bad! Let's say every industry has a 10% low performer rate. Should they just settle for the low performer (too many times this is the case) or do they look to upgrade and get more motivated, skilled team members? If your a publicly traded company aren't you limiting your return to the shareholder by settling for below-average performers? If you're the owner, are you really making the right decision by turning a blind eye to needed turnover. What if your top performers get tired of working with below-average folks and decide to move on to a more accountable company? Are your managers helping or hurting you?
In this growing market, finding, training and retaining top talent for your business is key. Davis Profit Consulting has the experience to help your business build a winning culture and keep your top performers, fill your open positions and build succession for the future. Effective interviewing and hiring. On-boarding and training. Performance assessments.
Are you and your manager experienced and effective in confronting the turnover challenge?