Free HR Webinar on Turnover Costs
View our free HR webinar to earn free HRCI & SHRM credits
Ascentis recently hosted a free HR webinar titled The Hidden Cost of Turnover and Strategies to Increase Retention. This free HR webinar recording is approved for 1.0 free SHRM credit and 1.0 free HRCI credit and available to watch here. One of our expert speakers from this webinar–Dr. Brad Smith from PeopleKeys presented on this topic on turnover and wrote the below reflection on this topic.
Employee Turnover – How Relationships Are Key
by Dr. Brad Smith
In the free HR webinar I presented, I discuss causes of turnover in depth. Most seasoned HR professionals will say that employee relationships mirror the types of personal relationships seen outside of the workplace. After all, many romantic matches are now made online, just like many job placements.
This analogy especially rings true with the millennial generation. Studies show 89% of millennial employees rate work-life balance as one of the main contributors toward staying with their current employer. For this generation, there is less of a distinction between work and home compared to the baby boomer generation. And most turnover with millennials happens during the first year of employment (52%). The average employee in the USA has been in their job for only 4.4 years, but the millennials average is even lower- just 2 years.
So how do you maintain a changing workforce? The key is in how you manage and communicate with each employee.
Employees are 2-3 times more likely to stay when they feel a close working relationship with their peers and direct manager. As a manager, understanding your own leadership and communication style is important. It is equally important to use this knowledge to adapt to each worker’s communication style. When you do this, you can improve your relationship with your employees, and reduce turnover, saving your company money.
Click here to view our free HR webinar recording on the costs of turnover and by viewing this recording you can earn free HRCI & SHRM credits.
If this topic is of interest to you be sure to sign up for one of our free HR webinars, our free Payroll webinars, and our HCM News & Trends newsletter so you can be notified of upcoming webinars coming in 2017.