Negative Employee Experience

No manager enjoys losing an employee, but if turnover starts to become a problem, it can seriously hurt your bottom line. Generally speaking, it is more cost-effective for companies to create strategic plans to retain their employees. That fact set aside, there are a handful of other ways employee retention impacts your bottom line. Decreases Employee Morale High turnover rates hurt the morale of everyone on the team. Usually, when one employee leaves, everyone else is left picking up the slack until a replacement is found. Employees often have to also take responsibility for training newcomers too. Continuously having new people coming in makes it difficult to build relationships in the workplace. Over time, this will make them less engaged, and they’ll lose motivation. Not to mention, it may make some of your other staff members wonder about what other opportunities are out there. Lowers Productivity Rates Productivity will take a hit when ......