by Nathalie Dib, Management Consultant at NECG.
Employees’ turnover is a common issue faced by many organizations. Time and money is constantly invested to recruit and groom employees but yet some companies see their staff’ turnover on the rise. This retention crisis is frustrating for employers who need to keep their top performers in place to achieve business goals and to avoid the heavy costs that are incurred upon the departure of key employees, including but not limited to loss of productivity during the recruitment and induction phases, in addition to the recruitment costs.
Employees quit their jobs for various reasons, including better career opportunities, compensation, and/or bad relations with their supervisor, etc. No matter what makes the employees exit, companies have an obligation to better understand their reasons if they want to retain employees in the future.
NECG’s Human Resources Consulting practice has assisted over the years many medium to large sized companies in their efforts to retain their employees. First we helped them understand the reason why these employees are leaving and then elaborated the adequate action plans to retain them. We are sharing with you today some of our best practices on the matter, summarized in 5 five major steps.
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