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Hidden Costs of Employee Turnover

Updated: Jan 28, 2019

Executive Coaching Houston TX
Epiphany Professional Development

High employee turnover, poor #teamwork, low customer satisfaction, falling profitability – All indicators of more systemic issues, with disengaged employees being one of the greatest contributors. We’ve heard it over and over that globally, 67% of employees are not engaged, leaving only 33% that are highly or somewhat engaged. The former group makes up the majority of the workforce -- they may not always be your worst performers, but they may be indifferent to your organization, resulting in significant cost to your organization as indicated above.

Here are a few steps leaders and organizations can take to boost #engagement:

HR/OD practitioners may couch discussions in “development” terms rather than drilling down to tangible performance related issues that affect the bottom line. Don’t dismiss it, mentor, model and challenge them to define it and its impact in tangible business terms. As a leader, regardless of scope of responsibility, part of your role is to ensure alignment of executables with strategic objectives. If there’s any indication that your engagement numbers may not align with your strategic objectives and organizational success, ensure the following steps are being implemented to address these hidden costs and mitigate them.

1) Evaluate recruiting and selection to ensure organizational values, competencies and cultural needs are being met in the selection process – Get the right people on the bus from the beginning.

2) Evaluate your performance review process (or install one). Ensure clearly set expectations, SMART goals, that are employee driven and cultivate a conversation versus a one way data dump. While a performance review process when executed well, will improve overall engagement, it will also provide a foundation for ongoing conversations with employees that will