Employee retention: Do you have a good forecast on how your company will weather the storm of the Great Resignation?
The statistics are powerful- according to a recent report out from CNBC, roughly 1 in 3 workers are now considering leaving their job. The estimated cost of a valued employee leaving your organization is estimated to be one and one half times their salary. The dollars add up not to mention the impact on your customers. At M3, we see the tremendous concern and overwhelming challenges organizations are experiencing recruiting and retaining top talent. Never have we experienced such a radical change in the workforce and the M3 team felt compelled to shift the outlook for struggling leaders, giving them the tools they need to tackle the challenges of these times.
At a time when a guiding compass is needed most, we’re applying our research and team of experts to create Workforce EQ, a new service that provides companies with a proven method to identify gaps that may lead to talent loss or team burnout. Workforce EQ is a powerful tool that goes beyond resources and surveys, coupling a leader’s care and concern for their team with top HR leaders that will be a key partner in guiding organizations through such challenging times.
Why investing in your employees saves you money over time:
- The cost of replacing employees can be one and a half to two times the price of their salaries
- Engaged employees are happier employees and happier employees are more likely to refer colleagues to your company and share your reputation with their network
- Engaged employees are known to provide a higher customer experience for your clients
- Using employee development programs to train future leaders increases the loyalty those individuals have to your company
How do we create a plan:
With Workforce EQ clients will have a trusted neutral partner to uncover those areas that are not coming up in engagement surveys and internal meetings.This new service analyzes performance in the key areas that affect recruitment and retention and creates a custom action plan.
We review your company’s current approach to the following areas:
- Talent acquisition and retention strategy
- HR capabilities
- Leadership development
- Internal policies and procedures for hybrid, remote, and/or in office work
- Organizational effectiveness in fulfilling your mission and core values
Workforce EQ helps companies understand their greatest opportunities for improvement and then matches them with an HR expert to tackle these areas, leading to higher levels of recruitment, engagement and retention.
How to start planning today:
Schedule an initial meet and greet with Mary Malone at http://eq.m3placement.com/