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Is employee turnover killing your competitiveness?

The Press is filled with tales of woe from businesses leaders, citing a dearth of talent to fill vacancies. The pandemic and Brexit are blamed as the two key causes. If this is true, why are employee turnover rates in UK financial service averaging 18.6% according to Compdata and the worst near to 50%. With some basics assumptions, the average cost of turnover is £7-10,000 per employee in recruitment costs, lost productivity and management time. Even for a small business these costs, some are hidden or considered sunk, can really impact margins. Culture and climate matters to employees, as does flexibility and inclusivity. How is your organisation faring? Is the challenge really the market? Need some help? Richard.beaven@unlikegroup.co



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