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.
Think about this:
* How much are you spending on advertising?
* How long does it take for you to review the CV’s that come in, prepare shortlists, prep for an interview 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?
* How long does it take for 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?
Not to mention your clients – what are they thinking when they are being greeted or treated by someone new each time they come in?
You might not see it but all the above have costs attached to it. You can reduce your costs by simply looking after and retaining your staff.