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Myth #9: Low turnover or no turnover is a good sign we're doing a lot of things very well. Why rock the boat? |
To people in some industries that are traditionally turnover-prone and where double-and even triple-digit turnover rates have long been regarded as just a cost of doing business, the notion of no or very low turnover must seem like an impossible dream. But there are times when very low turnover can also carry a hefty price tag.
The important question is not ‘how many of my people are we keeping’. The far more valuable question is, ‘what is the quality of the people we are keeping’. All too often organizations find themselves in a rut where people aren’t leaving because they are comfortable. And they are comfortable because things are pretty easy – the bar’s not set too high, standards are pretty lax, and mediocre performance is tolerated.
Comfortable employees will choke a competitive business.
If you raise your standards, you will scare off those who crave comfort and attract better performers who share those same, higher standards. The most valuable competitive advantage for any business is to staff with top performers who perform better and stay longer. You can rely on the Fit First Philosophy… it will power your business to better results and a stronger P&L.
The employee turnover costs are pervasive and are often staggering. The phenomenon coined the Revolving Door Syndrome is an inevitable part of business and can ultimately seriously impact a company's ...
Article from Jan van der Hoop looking at productivity in the workplace.
Unsure how to respond when clients asked us the question, we did a little research of our own to understand how leading researchers and industry associations estimate the impact of employee turnover o...