As the Baby Boomers are beginning to retire, there are fewer people available to work. Recruiting and retaining the right people is essential to each company’s success. Some recognize employee retention as being one of the primary measures of your organization’s health.
Employee retention is critical to your business’s success. Consider these statistics collected by author Ross Blake:
- Losing an employee
can cost your company up to 30-50% of the annual salary of entry-level
employees, 150% of middle level employees, and up to 400% for specialized, high
level employees or senior executives
- SHRM, the Society
for Human Resource Management, estimated that it costs $3,500.00 to replace one
$8.00 per hour employee when all costs -- recruiting, interviewing, hiring,
training, reduced productivity, et cetera, were considered. SHRM's estimate was
the lowest of 17 nationally respected companies who calculate this cost!
- There are estimates
that a 10% reduction in employee turnover is worth more money than a 10%
increase in productivity, or a 10% increase in your company’s sales
(Ross, 2006)
Surveying your employees can assist in the following Human Resource department
efforts:
- Discover issues with
organization, management, expectations, etc.
- Understand known
issues better so the company is well-equipped to take appropriate correctional
actions
- Garner feedback for
programs or benefits, for example: 401K, Insurance, Time-Off, Pension,
Compensation, Vacation, etc. to determine if your programs and policies are
meetings your employees expectations and needs
- Conduct Exit
interviews to determine why people leave your organization
- Evaluate orientation
and training programs
(Ross, 2006)
Surveying your employees can assist in the following Human Resource department
efforts:
- Discover issues with
organization, management, expectations, etc.
- Understand known
issues better so the company is well-equipped to take appropriate correctional
actions
- Garner feedback for
programs or benefits, for example: 401K, Insurance, Time-Off, Pension,
Compensation, Vacation, etc. to determine if your programs and policies are
meetings your employees expectations and needs
- Conduct Exit
interviews to determine why people leave your organization
- Evaluate orientation
and training programs
Template packet's will be available soon and can be downloaded from the customer account area, to get you started even faster. Here are
examples of the Customer Satisfaction Survey Templates that are available:
Employee Satisfaction – Employee Attitude Evaluation/ Survey
Employee Satisfaction – Manager Evaluation/ Survey
Employee Satisfaction – Employee Benefits Evaluation/ Survey
Employee Satisfaction – Job Satisfaction Evaluation/ Survey
Employee Satisfaction – Company Communications Evaluation/ Survey
Employee Satisfaction – Training and Development Evaluation/ Survey
Employee Satisfaction – Support and Empowerment Evaluation/ Survey
Employee Satisfaction – Job Stress Evaluation/ Survey
Employee Satisfaction – Senior Management Evaluation
Employee Satisfaction – Company and Supervisor Evaluation
Employee Survey– Exit Survey
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