Reduce Employee Turnover and Increase Your ROI – Best Practices
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Employee turnover can have a negative impact on an organization’s performance. By understanding the reasons behind staff turnover, you can devise recruitment and retention initiatives that reduce turnover, increase employee retention and, therefore, your company’s return on investment (ROI) in its employees.
While it is expensive to screen and hire people to find the right fit for a position, bad hires can cost you in terms of productivity if they stay and additional hiring expenses if you have to let them go.
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To begin, your HR department needs to be aware of the number of employee complaints, the type of teamwork displayed and your employees’ levels of commitment, job satisfaction, stress and engagement. All these, captured in an assessment, can help you determine the best action to take to prevent employee turnover. eSkill invites you to read our e-book, which explains how.
- The factors that most influence employee attitude
- The single factor that makes employees want to stay with a company longer
- What “employee lifetime value” is and how to maximize your investment in employees
- The best practices for reducing employee turnover and hiring costs