Staff turnover, what’s it telling you
High staff turnover indicates that something in your business is just not quite right. Therefore, if you are experiencing a lot of staff turnover, it may be a good opportunity to deep dive into your business to understand these issues.
Usually, it comes back to two (inter-linked) factors: management and culture.
This process is essential for a couple of reasons:
1. It helps you improve
Retaining your employees is critical to the success of your business, so making an effort to genuinely understand why someone has left a job is important. It can provide you with profound information that will help you improve your staff retention. In addition, this knowledge helps you refine your talent and recruitment strategies, develop employee engagement strategies, and find ways boost your employer brand.
2. It minimises the impacts of turnover
Staff turnover is disruptive. It impacts employee engagement, your business culture, your employer brand, your performance, and your ability to deliver strong results. Turnover of your high-quality or key talent can have an even greater impact, even immobilising your business.