Have you noticed companies offering great deals and incentives to attract new business rather than looking after their existing customers? The same can be said about companies and their employees.
They’re often quick to offer incentive compensation packages to new hires while neglecting their current team members.
If you have good and valued staff members, treat them well – they’re your greatest asset.
From a business perspective having a continual revolving door of staff hits your bottom line. Consider the following:
* The cost to advertise a vacant position.
* The time involved in reviewing CV’s, preparing shortlists, prepping for interviews and the actual interview process?
* How long does it take to train a new hire and is it taking someone away from their actual job or slowing them down?
* The length of time it can take a new employee to get up to speed and begin generating income?
* How long do they stay before they leave and you have to start the process again?
Let’s not forget about your clients – how is it being perceived when they are being greeted or treated by someone new each time they come in?
You may not realize the above have costs attached to it. You can reduce your costs by simply looking after and retaining your staff.