This episode is sponsored by Guardian Tracking.
In episode 85 of “The JoyPowered® Workspace Podcast,” JoDee and Susan discuss employee turnover with Lorraine Ball, owner of Roundpeg and host of “More than a Few Words.” Topics include examples of turnover concerns, contributors to turnover, and what to do and not do when turnover goes up.
Every business owner is concerned about losing talent. We shouldn’t be obsessively worried about it, but we should be thinking about it. What are we doing? Are we competitive? Are we creating a positive culture? JoDee and Susan discuss average turnover numbers in different industries and some common causes of turnover.
Lorraine Ball joins the conversation to share her experience working in a company where someone quit every week for her first 12 weeks. Turnover is an expensive and stressful problem, and when you’re spending all your time interviewing and training new team members, you can’t do the higher level things you were hired to do.
The solution doesn’t have to be complicated or expensive; for example, Lorraine implemented flexible working hours and an easy way to recognize when someone did something great. It’s also important not to hire just anyone out of desperation – make sure they’re a fit for your culture. And, surprisingly, sometimes the best thing you can do to stop turnover is to fire somebody.
In this episode’s “best practice sharing” segment, JoDee and Susan discuss tips for business travel. In the listener question, they’re asked about developing a productive relationship with a toxic CFO. In the news, HRDive.com shared statistics from a study about workplace loneliness.
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