5 Reasons Your Boss Hates Employee Turnover
Turnovers are great…when we’re talking about the kind found in donut shops. In a work environment, turnover results in lost time, lost profits, and lost patience. As an employee, you might not mind it all that much, but a rotating cast of characters makes for an unstable staff. And that’s enough to give any boss pause. It leaves them caught between a rock and a hard place.
In fact, there are several reasons why turnover is detrimental to a company. Some of these include:
Loss of time.
Most jobs involve an acclimation period where an employee learns, trains, and makes understandable mistakes. New employees simply don’t do their jobs as well as those who are seasoned. Turnover results in new employee after new employee, which costs the company time. Your boss can’t hand the reins over to someone who just started; rather, they have to bust out the training manual and stay late once again.
Loss of money.
Because turnover causes the loss of time mentioned above, it hits the company in its pocketbook, too. In business, time is money; when you’re wasting the former, you’re not making the latter. Turnover can cost a company more directly, as well – if a business spent $500 in seminars for an employee who only remains on staff for a month or two, they won’t get much bang for their buck.
A blow to company morale.
Turnover causes changes that hinder how well a business functions. Coworkers who enjoy each other do better jobs and put in extra efforts – you don’t want to let down the people you like. A business without this kind of camaraderie and familiarity doesn’t run like a well-oiled machine – stranger danger exists even inside office walls.
A bad reputation.
A company known for turnover is a company worthy of side eye. In short, people want to know why no one ever stays on staff. Whether this is warranted or not, a lot of turnover will result in a reputation. And that can prevent a company from receiving solid résumés in the future.
Loss of good employees.
Not all turnover is bad. If the employee who shows up twenty minutes late and leaves forty minutes early quits, it’s not likely many managers will drown their sorrows at the water cooler. But when decent employees quit, that’s an issue. Good help, as they say, is hard to find. When bosses locate it, they want to keep it forever.
Turnover happens, but too much of it could be a sign that something is off. A company that advocates open and honest communication often retains employees longer.
Encourage your employees to embrace life with a take my shift attendance policy. This type of policy provides a balance between work and play and will ultimately limit the turnover your company experiences. Sign up for our mailing list to learn more.