WEEKLY FOCUS
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.