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Getting disengaged employees engaged decreases the probability of departure by 87%
This is why activitymix has aligned its approach with leading research in this area.
The costs of replacing an employee is huge and extends far beyond the core 'recruitment costs'. The recruitment cost is just the tip of the iceberg. There are direct costs, such as leaving packages, recruitment consultant fees and manager time as well as more indirect costs, such as loss of production, lead time to full productivity, training, overtime, etc.
Other factors make the process problematic as recruiter Digby Morgan explains; "you have to consider the scarcity of available skills, their talent pooling and succession planning strategy as well as their reward and recognition policy and employer brand..."
Every company would like to limit the number of 'regretted leavers' it has as part of it's annual turnover. How can you ensure that employees withstand the temptations to leave the organisation? By paying them more?
Pay is rarely the main motive as to why people move jobs. As well as driving a high performance culture, engagement also makes that move less tempting. Research by Corporate Leadership Council1 showed that getting disengaged employees engaged, decreases the probability of departure by 87%.
Take a look at our cost calculater below to help you calculate the total cost to your compnay of a turnover in staff.