Providing resources for communities and entrepreneurs to create and retain jobs in Antrim, Charlevoix, Cheboygan & Emmet Counties.

The Real Bottom Line of Keeping Your Employees

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Do you know what the real costs are to your bottom line for retaining your workforce? Do you know what the top reasons given are for employees who leave your company or for those who choose to stay? Do you know what motivates the millennial generation versus baby boomers? If you’ve found yourself asking any of these questions recently, you are not alone… and we’ve found some help!

Networks Northwest has researched and written a “Northwest Michigan Employer Retention Guide 2017” available for free that contains answers and strategies for dealing with Employee Retention issues. It will also offer 8 strategies and 30 actions for employers to use to reduce voluntary turnover. For example, consider the following planning steps:

 

  • Why do employees leave? Which ones leave frequently? When do they leave?
  • Why do employees stay? Which ones stay? How long?
  • Which workers do you need to stay now?
  • Which workers do you want to stay to meet future objectives?
  • What values does your company embody? What values do the employees you wish to retain care about? Where is there overlap?
  • How do company actions currently reflect these values? Could any of these actions be expanded into a retention activity?
  • Which strategies and actions in the Guidebook can reflect your values and help to solve a specific retention problem?

This tool will help you understand the real costs of employee turnover and the impact on morale, productivity and ultimately your bottom line! You can find and download the full 40-page report at: www.networksnorthwest.org/userfiles/filemanager/5682/

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