In the book The 7 Hidden Reasons Employees Leave by Leigh Branham published by the American Management Association, NY, 2012, Mr. Branham outlines the reasons why people leave. based on what over 20,000 people who were asked by their companies said. In terms of management, by having better management or good management which translate into low w turnover, no matter the industry and sector, the company saves money. If it has a high turnover, it wastes both money and people.

Reason 6  Stress from Overwork and Work-Life Imbalance

For generations in the past, people had support systems in their surrounding towns then as we all became more mobile and spread out, one of the consequences is our support systems narrowed. When in was reasonably possible for one member of the household to support the household, the stress was in the household. Now we have everyone trying to make a living, the stress is both in the home and the workplace. Given the do more for less, the hours became longer and the results for people questionable.

Possible solutions

Initiate a culture of giving before getting. If you are going to do this the CEO has to have a sincere passion for taking care of their employees as people.

Ask questions such as what benefits and services can we afford to give that will allow us to attract and keep the talent we need while allowing our employees to lead a fuller and healthier life outside work?

Tailor the culture of giving to the needs of the key talent. Know Your Workforce! Understanding the needs of the workforce for example SAS saves $67 million per year in avoided turnover costs because it maintains a 3% rate in an industry that averages 20% turnover.

Build a culture that values spontaneous acts of caring

Build social connectedness among coworkers

Encourage fun in the workplace

Linking to dividend paying stocks, the key thing to learn is if the company is saving money on turnover costs then it must be doing something right. If they are doing it right, then profits continue to be made.

There are more questions than answers, till the next time – to raising questions