Retain employees and save money!

An interesting article in HR Review highlights some new research from AXA PPP Healthcare which shows that it can cost SMEs £30,000 to replace an employee (https://goo.gl/LpvK7S).

It is trite to state that conflict and poor relationships at work lead to lower retention rates. Most HR professionals will be familiar with the old adage that people leave their bosses not their jobs. This article provides some further evidence of the sorts of savings that can be achieved by reducing the levels of conflict and improving the culture of an organisation. The financial benefits of lower staff turnover are undeniable. If introducing a workplace culture where there is less conflict only leads to the retention of one member of staff who otherwise would have left, the employer is going to be ‘quids in’.

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