How Much is Turnover Costing You?

Frequent turnover is an expense no employer can afford. The cost of high turnover is especially jagged when it comes during a busy time in a plant, warehouse or manufacturing facility. In these companies, turnover can stall or even halt important work, impacting your bottom line and damaging your reputation.

Sinking productivity

When an employee quits, productivity slows. They had a job to do, right? So who is doing it now? High turnover ultimately results in missed quotas or reduced production. This means that turnover can greatly influence your reputation with customers and in the community.

Overworked staff

When you shift those tasks around to cover a vacant position, those workers who pick up the slack can get stretched thin. Not only will the quality of their work go down, but so will their satisfaction and engagement. This means they are more likely to start looking for a new job and leave, which creates a cycle of turnover that is very hard to stop.

Training costs

When you onboard a new employee, they’ll need to learn how to function in your workforce. This means training. Whether you pay an outside trainer or remove a star employee from their post to show the new worker the ropes, you still have to pay for training.

So, what can you do?

The staff at Malone Staffing Solutions has noticed certain retention trends emerging, giving us an idea of why employees, both permanent and contingent, don’t stick around for too long.

Provide consistent feedback

Employees work hard when they understand your expectations and have a steady stream of feedback. Your staff at all levels will thrive when they feel appreciated and valuable to the company.

Recognize their efforts

If your employees are happier then they will be more productive, which makes the payoff worth it. Your contingent workers will develop a strong sense of loyalty when they’re recognized for a job well done.

Allow for flexibility

Create a workplace that supports work-life balance by offering a variety of shifts and access to technology. Adjust your thinking so that you put the person first, not the position. It doesn’t take much more than a shift in your perspective on the traditional workday to reduce turnover. Some employees need flexibility to be productive, confident and satisfied.

Turnover can be an enormous expense for companies big and small. Fortunately, it’s also one expense that can be preventable. When companies come to Malone Staffing Solutions with turnover issues, we custom tailor solutions that fit their needs. Our recruiters can connect your company with highly trained and advanced employees who are ready to work. Contact us today and we’ll develop a plan for all of your temporary, permanent or temp-to-hire hire needs.

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