Are you building a culture that makes your best people want to stay?
The true cost of losing good people Part 1.
You can spend thousands recruiting the right person, only to lose them because you failed to give them a reason to stay.
Your best people rarely leave for just one reason. And salary isn’t always the answer.
When good people leave, organisations lose experience, productivity and valuable knowledge while the cost of replacing them continues to rise.
Recruitment is one of the most significant investments an organisation makes, yet many businesses concentrate heavily on attracting talent and far less on protecting that investment once someone joins.
Think about what goes into recruiting a new employee.
Advertising, recruitment agency fees, management time, interviews, background checks, onboarding, induction and training.
Then there is the time it takes for someone to become fully productive, understand the business, build relationships and develop the experience needed to perform at their best.
Now imagine losing that person after 12 months.
You haven’t simply lost an employee. You’ve lost the investment made in finding, developing and integrating them into your organisation.
And the financial consequences don’t stop there.
There is lost productivity, additional pressure on remaining employees, disruption to customers and the cost of repeating the entire recruitment process.
But here’s the question organisations should be asking themselves:
Why are we so focused on getting recruitment right, but sometimes so complacent about creating the environment that keeps good people?
Recruitment shouldn’t end when someone signs an employment contract. That’s when the real investment begins.
Attracting the right people is important. Giving them reasons to stay is essential.
At Brownie Points, we work with organisations that build cultures of appreciation, where people feel valued and their contributions are recognised, which is an important part of protecting that investment.
Because the best recruitment strategy in the world won’t deliver long-term results if your workplace culture drives good people away.
A question for CEOs, CFOs and HRDs:
How much is your organisation spending replacing people it has already spent considerable time and money recruiting?
Perhaps the bigger question is how much could you save by investing in keeping them?
#Leadership #Recruitment #EmployeeRetention #WorkplaceCulture #BusinessPerformance #BrowniePoints
