What losing an employee actually costs
The question isn’t can you afford a recognition programme – but can you afford to keep losing people without one?
HR leaders already know that recognition matters – but proving it is a different story. When it comes to the bottom line in business, investors and directors want to see numbers, facts and figures.
The cost of losing an employee estimates at anywhere from 50 to 200 percent of their annual salary. Do the calculations. The standard 15% annual turnover can cost a business hundreds of thousands a year. Now those are high numbers.
Employees want recognition that matters and retention investment comes in many forms. Technology is redefining HR and plays an important role at every stage of the employee experience.
We explored in our blog this month how digital tools can automate routine tasks so HR can focus on what matters most – employee engagement, leadership development, wellbeing initiatives, and of course – talent retention.
With the cost of turnover so large, quality recognition makes employees feel seen and rewarded – retaining the people most at risk of leaving.
We deliver the tools that enable you to fully manage the Employee lifecycle from start to finish. Whether you have some tools already in place or are starting from scratch, our solutions fit seamlessly into your business; delivering the important communication and information your staff need to see, 24/7/365. Call us on 0333 444 3425, visit www.sslpost.com or email hello@sslpost.com and we will be happy to run through the options to suit your business.
