As a manager, the one thing you fear the most is most likely losing a top employee. What’s worse is when the two weeks' notice comes as a surprise. According to CAP, the average cost to replace an employee earning under $30,000 a year is 16% of their annual salary.
Unfortunately, our research found some more bleak news about employee retention. We asked employees how often they think about looking for a new job, and this was the result:
Employees are on the move. And if you’re not staying on top of the constant change of ebbs and flows in your workplace, you could find yourself in a very difficult situation with low employee engagement and high turnover. So what can you do to prevent this?
Well, our research has shown that 64% of employees surveyed said they want their direct supervisor to ask them for opportunities to improve their workplace. So instead of waiting for the annual survey to gather employee feedback, leverage pulsing surveys. Since these surveys are sent out weekly or biweekly, you’ll be able to do real-time tracking of how employees are really feeling.
Let’s be honest, sentiment can change at the drop of a dime. So instead of constantly fearing when your next employee will leave, get ahead of the game. Use pulsing surveys to gather honest employee feedback, and immediately address any issues or concerns your staff might have now.