Page 65 - Anne Bruce - Building A HIgh Morale Workplace (2002)

Keeping the People Who Keep Your Business in Business 45

those managers have come
Costs of
to accept the high cost of Employee Turnover
turnover and low morale as Here’s a formula for calculat-

the price they must pay for ing the costs of employee turnover:
doing business. If these Recruiting Expenses + Travel and
managers would just con- Relocation Costs + Training and
centrate on hiring the best Administrative Costs + Loss of
Productivity = $$$High Cost of
people, valuing them, and
Employee Turnover$$$
meeting their needs, they’d
be saving millions of dol-
lars over time. When talent crashes, costs soar.
You are obviously not one of these managers—or you would-

n’t be reading this book. Keep telling yourself that social change
takes time. Heck, it takes centuries. But we’re closer in the 21st
century than we’ve ever been before to understanding the
human condition at work and appreciating and valuing human
capital. It’s the holistic antidote for employee burnout and talent

crashes.

Companies That Lead Walk the Talk or
Sacrifice Your
the Way
Credibility
There are thousands of The results of one survey of execu-

managers, just like you, in tives suggest that claims that “our
companies in every com- people are our greatest asset” may be
just words. In the survey, nine out of
munity on the globe, that
10 executives told researchers that
have spent time building
their employees were their company’s
reputations for their com-
most important asset. However, when
panies as employers of asked to rank seven key issues that
choice. This chapter was determine an organization’s success,
written for managers like the leaders ranked “people perform-
you who believe that it’s ance” sixth!

worth building a reputation Leaders must walk the talk. If
that says, “Everyone wants you’re going to claim that people are
important, then back it up with
to work here.”
action—or you risk losing credibility
One such company is
and respect.
SAS Institute of Cary,