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.
Continue reading “How to Estimate the Qualitative Loss From Staff Turnover”
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.