How to Estimate the Qualitative Loss From Staff Turnover

 

What is an employee worth to you?

Not just their ability to generate sales or produce a measurable outcome, but also in terms of the experience they provide, and the emotional impact they make?

How can we calculate the degree of value an employee brings to a company, and what we lose when they quit?

Previously, I discussed ways to increase Risk Intelligence after staff turnover, and how to calculate the financial impact.

In this third segment, I explain hidden values employees provide, the 9 things we lose when an employee leaves, and simple ways to calculate the cost of quality.

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What You Can Do to Boost Risk Intelligence After Losing Staff

If you own a business, you are responsible for every detail in your company: hiring, firing, and everything in between.

When a key employee hands you their resignation letter… what is your typical response?

Do you feel alarmed, frustrated, nervous, or angry?

Are you afraid of what could go wrong?

Without a clearly defined processes to deal with unexpected turnover in your company, you will be facing a lot of unknowns. Risk Intelligence is the ability to perceive what could happen before it happens.

If you feel blindsided by a sudden resignation, or shocked by events that forced you to fire key staff members, then it’s time to boost your level of risk intelligence.

Continue reading “What You Can Do to Boost Risk Intelligence After Losing Staff”