An entire machine will eventually break down if all of its cogs and gears are not functioning as they should. While this is one of the most profound and undeniable business concepts, a growing number of firms are beginning to view employees as transient and entirely replaceable commodities. If just so happens that such firms are associated with high turnover rates and as a result, mediocre levels of customer satisfaction and ROI. They simply believe that an outside individual will be more than happy to fill a vacancy in the event that a worker quits due to dissatisfaction or a lack of motivation. However, the numbers simply do not add up. Let us take a look at why this is the case as well as how technology is playing an increasingly important role when addressing the concept of employee retention.The Innate Dangers of Taking Employees for GrantedMany firms have begun to view their employees as nothing more than transient commodities. In other words, workers are valued more for their ability to meet quotas and profit margins as opposed to for their individual personalities and potential. After all, why invest a great deal of time into training an employee if he or she can easily be replaced by someone who is just as willing to become a part of the "rat race" and to survive on subsistence-level wages? The risk is always greater than the reward; particularly if we are referring to entry-level positions.
In fact, the exact opposite is true.Investing in an employee is another way of investing in the future. It takes much more time, money and effort to train new workers when compared to providing existing employees with a new skill set. Furthermore, feelings of self-worth and motivation tend to rub off onto others. This is the core concept behind the entire team mentality that is often desired within office settings. Some other dangers associated with taking workers for granted include:
- The risk of alienating loyal clients.
- Decreased revenue generation.
- A substandard workforce.
- Publicly negative reviews and feedback about the company itself.
However, the younger workforce is much more agile and up to date with modern software solutions. It is therefore important that these workers are given access to the appropriate levels of technology. This also leads to a greater sense of flexibility from a business point of view. A handful of entirely understandable benefits include:
- The possibility of telecommuting.
- Collating and processing data more efficiently.
- Higher levels of in-house motivation.
- Fewer sales and pipeline errors.
It therefore stands to reason that new and innovative concepts should be implemented in order to avoid the scenarios mentioned above. Some interesting examples of this trend include customised e-commerce templates, flexible payment gateways, bespoke drop shipping solutions, and centralised data management software.The adoption of these and other techniques will provide a two-fold advantage. First, employees will be aware that management cares about their professional needs. Secondly, a greater sense of efficiency can often lead to higher profit margins over time; an excellent return on investment.Retaining skilled employees is critical in an age defined by incredible amounts of inter-company competition. It can often be very difficult to replace a highly skilled worker and such talent is not encountered easily. This is why human resources specialists and management teams need to be aware of how they can transform the current working environment. Such efforts will not be lost on employees and as a result, turnover rates should plummet. Never forget that a single loyal employee is more valuable than ten entry-level workers who seem to forever trapped within the "revolving door" syndrome.
A happy employee is always a productive employee.