No matter what industry you're in or where you are in the world, employee turnover is a going concern for companies and organizations alike. Whenever an employee decides to leave, the entire organization and the team get affected. Gallup recently conducted a study where they discovered that for an individual employee to be replaced, the business will end up spending anywhere from half to double their annual salary. Let's look at some of the top reasons why employees end up making the choice to quit their jobs: Feeling Limited or Stifled It is crucial for your employees not just to [...]
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So far Ashley McKarney has created 8 blog entries.
Business success happens due to a variety of factors—you may have reached your quotas, you’ve managed to sign a deal with a huge client, or you’ve adopted automation for better and more profitable practices. All of these boil down to one crucial fact—they’re all thanks to the people involved. In other words, your company is only as good as the people you employ, regardless of business nature. Unfortunately, this also means that a single low-performing employee can drag everyone down, eventually affecting your company’s success. A rigorous recruiting and hiring process may help you from suffering from such candidates, but [...]
People are a company's greatest resource. Businesses must invest in their employees and provide them with what they need to grow. If they do, people will be more likely to hit business goals, be fulfilled in work, and offer suggestions to bring the company innovations. The HR or human resources department is well-placed to provide employees with opportunities to develop their skills and bring new things to the table. The Role of Human Resources in a Company HR or human resources is an umbrella term for how a company manages and develops employees to increase performance. In the past, HR focused on [...]
A business will not thrive, let alone survive, without a great product. However, it pays to remember that other crucial elements impact an organization’s success. Human resources need to be top of mind for leaders, as it is the people of an organization that makes it thrive. Companies need to attract and take care of their employees as they are the lifeblood of the company. They make it possible for it to function and achieve its goals. Considering this, as a manager, you need to think of ways on how to effectively lead your people to work towards your company’s targets. [...]
Employees come and go. Businesses experience and struggle with employee turnover at some point. This is an inevitable reality that firms and organizations must face. On top of that, it’s worth noting that the retention crisis will only get worse in the future. This is because the competition for talent is becoming increasingly fiercer. Moreover, millennials—also often dubbed as the job-hopping generation—are comprising a larger part of the workforce. It is for these reasons that you must work on reducing your turnover as much as possible. Having employees leave your company one after another will take a toll on your [...]
When a company does not succeed in engaging, developing and nurturing its employees, employee turnover is likely to occur. The reasons for turnover can vary but the cost will remain the same. It costs organizations between $4,000-$60,000 to replace an employee. This amount varies depending on the annual salary of the role and includes costs such as direct hiring, the hiring managers and HR’s time, productivity loss, overtime, training of the new employee, etc. While some turnover cannot be prevented, some can, and those cases will require your extra attention as a deep-seated issue within your organization could be the [...]
Leading through change is a learned skill that many of us acquire on the job or while crisis or change occurs. Too often, during these times employees and the Human Resources team, are viewed as a cost function and they are the first groups to be affected. As a senior HR support, I work with management teams in several capacities. One of them is to assist proactively when planning for times of change, crisis, downturn, but more commonly when reacting to change that has already happened before downsizing or shutting down the business is required. When we examine the hierarchy [...]
Whether you are in a leadership role, or solely an HR role, at some point or another terminating an employee will become your reality. In the early stages of a career, young professionals usually ask themselves questions like, “Will I be able to let someone go?”, “Will I hurt their feelings?”, “How will I handle the situation?”, or “What should I say?”. I have had the unfortunate experience of terminating many staff, and I myself have been let go from a job and a team that I loved. This experience has given me time to reflect and look back at my [...]