SERVICES - KEY EMPLOYEE RETENTION
Successful organizations excel at thinking strategically about their most important assets – their employees, especially their key employees. These key employee skills, attitudes and behaviors are seen as pivotal within the organization and are usually well known in any given industry or market. When a key employee leaves, the organization often struggles through crippling financial and productivity issues.
According to a Brookings Institute report, the cost of replacing professional and managerial employees runs upwards of 1.5 to 2 times annual salary, and the cost for administrative and production employees is .75 times annual salary. Think of what it would cost if you were replacing one of your key employees.
Retaining and motivating key employees falls squarely in the management realm. Psychology For Business will work with your team to identify your key employees, assess their needs, and improve communications between these key individuals and management. We will also facilitate management training to better meet the needs of your key employees.
Psychology For Business’ key employee retention services offer your business:
- A healthy bottom line, resulting from motivated and productive key employees
- An attractive workplace where employees feel valued and challenged
- Greater return on your resource utilization (less time and money spent in recruiting and hiring)
- Continuity in executing your strategic initiatives
- Consistency of culture through the preservation of a healthy work environment
- Less stress throughout your organization
Every business or organization has employees who are considered pivotal to their success. Retaining these employees is key! Contact Psychology For Business to learn how to keep this most valuable resource.