Improve Employee Turnover

A big concern to most companies is employee turnover.  Turnover is a costly expense, especially in lower paying job roles for which the employee turnover rate is highest.  When a company must replace a worker, the company incurs direct and indirect expenses. These expenses include the cost of advertising, headhunting fees, human resource costs, loss of productivity, new hire training, and customer retention -- all of which can add up to anywhere from 30 to 200 percent of a single employee's annual wages or salary, depending on the industry and the job role being filled.  Labor Performance LMS helps you reduce employee turnover. Pay Competitive Wages The prospect of getting higher pay elsewhere is one of the most obvious contributors to turnover.  In the interview process, discussing pay often uncovers a prospects true desire for earning a particular wage.  It’s better to not hire someone who’s going to leave anyway.  Employees don’t stay at jobs where pay is low.  They usually have one foot out the door.  There’s no incentive to keep working for lower wages than can be found elsewhere. Labor Performance LMS increases pay through a bonus system for those who earn it.  More productive people earn more competitive wages. Link Pay to Performance Employees who lack a strong incentive to perform well often don’t.  If there is no link between pay and performance, the potentially high performers often fall through the cracks because there is no incentive to work harder.  Whether someone works harder, faster or smarter they still earn the same wage.  Labor Performance LMS directly links pay to performance.  Employees learn there is a direct benefit to being more productive. Improve Communication Employees frequently site lack of communication as a reason to leave a job.  Often feedback on job performance is lacking.  Expectations often aren’t communicated to employees.  Weeks can go by without supervisor feedback.  Employees feel like they are being picked on when they are communicated with.  When employees have legitimate problems no one is available to communicate with.  Labor Performance LMS is a total feedback system that produces daily reports.  Strong Relationships with Supervisors The relationship with the front-line supervisor is an employee’s most important work relationship.  The supervisor carries significant weight for the employees.  From expectations, attendance and performance to performance reviews and reprimands, the supervisor relationship is important.  Hiring, managing and rewarding supervisors is a key part of creating health relationships.  Companies often fail to take care of supervisors. Labor Performance LMS builds in supervisor bonuses and makes supervisors a stakeholder in the process. Direction and Advancement For employees who are highly engaged and performing well what does their future look like?  Companies often fail to provide a path for employees to follow.  There’s no advancement plan.  There are no courses or training programs to go the next step.  A lack of direction combined with low pay creates high turnover. Labor Performance LMS rewards the employees who are the most productive.  It’s a clear directions.