The hidden costs that you may overlook.

And the Solution! Listen here

For a company to thrive, it needs its employees to be engaged, to share in the ethos of the business and similarly to buy into the values!
Employees need to feel valued and believe that they can make a difference.
When employees feel that their contribution counts and that a real team ethos exists, success is far more likely to take place!

Consider the reverse of that situation.
Let’s take the example of a company employing 100 people and at an average salary of £25,000. The annualised staff expenditure would be £2,500,000.
Sadly, the company has a high labour turnover, running at 10%. This vacancy factor represents a loss to the business of £250,000.

It also has sickness levels of 7.5%…This represents a loss of revenue to the business of £187,500.

Morale is low, which presents two problems…A loss of productivity but worse still, groups of employees that regularly and openly paint the company in a bad light…As a result, 15% of the company are only 75% effective. This represents a loss of revenue to the business of £93,750.

It may come as a surprise that these figures are not unique. What it does however mean is that the annualised loss to the business is £531,250.

Consider if that figure was reduced by half! Consider if that figure was reduced to £125,000. Reduced turnover, reduced sickness and fully productive staff…A saving of over £400,000.

Imagine also, having engaged teams, wanting to come to work and knowing that they can make a difference.

To learn more about how you can make your business both a “Great place to work” and where both individuals and teams understand how to deliver “Peak Performance”, just click on the link here.