Insights from Engagedly’s State of AI in HRM, 2nd Edition Survey.
Employee turnover is a constant problem in companies all over the world. Every company does its best to retain existing talents and at the same time attract new ones. When an employee leaves the organization, it affects the organization in more ways than one. It not only affects the performance of the team which the employee leaves but also affects the organization overall. As a result, whenever a new employee joins the organization, there are costs involved. Interviewing, background checks, selection, onboarding, and training, each step till the time a new employee joins, has cost involved in terms of time and money. A recent study by Gallup shows that the cost of replacing an individual employee can range from one-half to two times their annual salary.
The sudden rise in the number of goodbye lunches could be a great concern to the human resources team. We will help you identify six reasons why your employees leave. Managers and leaders often tend to ignore them as probable causes of employee attrition. But they are often the actual cause behind employees leaving the organization.
Do you have any other reason in mind? Let us know in the comments.
Want to know how Engagedly can make employee management simpler? Then request for a live demo.
Srikant Chellappa is the Co-Founder and CEO at Engagedly and is a passionate entrepreneur and people leader. He is an author, producer/director of 6 feature films, a music album with his band Manchester Underground, and is the host of The People Strategy Leaders Podcast. He is currently working on his next book, Ikigai at the Workplace, which is slated for release in the fall of 2024.
© 2024 Engagedly. All rights reserved.