Employee turnover is costly for many organizations. However, there are ways for businesses to predict whether an employee is deciding to leave the organization. Armed with concrete data from these systems gives employers time to plan ahead of an employee exit. It even allows for employers to rectify issues before employees leave.
Employee turnover costs stem from lost productivity, recruitment, onboarding and training. Generally, new employee hire costs an organization approximately $3.500, which depends on the seniority of the employee. Employee replacement costs from 150% to 300% of an employee’s starting salary.
A survey by Deloitte found that roughly 25% of the workforce switches jobs per year. A staggering number for businesses in the tech and management industries.
Zenithr has several possible solutions for businesses to manage employee turnover, such as employee exit surveys and employee experience platform.
If you are looking for signs of employees leaving your organization, the following article will interest you. It will also explore how Zenithr’s many HR solutions can assist with decreasing employee turnover.
Hidden Signs of Employee Exit
Research shows a direct link between employee engagement and employee retention. It has found that 70% of business managers believe that employee engagement is vital for producing best results in the organization.
Are Employee Exit Surveys Worthwhile?
Surveys are an excellent method for employee feedback. It allows employers to discern and predict employees’ engagement and possibly counteract their leaving.
Previously, employees showed disinterest in employee engagement surveys. They were skeptical for the following reasons:
Lack of Trust
Many employees hesitate to provide honest feedback due to insufficient trust in their employers. A study by Earnest and Young (EY) revealed that less than half of workers have a high level of trust in their organizations.
Skepticism About Impact
Employees often doubt that their survey responses will lead to meaningful changes. According to Aon Hewitt, only 20% of employees believe their feedback will result in actionable outcomes.
Low Survey Engagement
Employees may see little value in completing surveys, leading to low participation rates, often around 30%. Factors like busy schedules, lengthy questionnaires, and doubts about follow-through are contributing factors for lack of employee contribution to this issue.
How to use Zenthir’s Employee Exit Surveys
Employee exit surveys are vital tools for understanding the reasons behind high employee turnover and identify areas for improvement.
Zenithr’s employee exit survey takes this process to another level, offering actionable insights empowering decision-makers to refine their talent management strategies.
Customizable Surveys
Zenithr’s employee exit surveys are customizable to align with the organization’s goals and industry-specific challenges. Businesses can customize questions to uncover specific pain points, like management effectiveness, team dynamics, or compensation concerns.
Real-Time Analysis
Unlike traditional surveys that provide static reports, Zenithr’s surveys delivers real-time analysis, thus allowing decision-makers to track emerging trends and prompt action to address immediate issues.
Data-Driven Insights
Zenithr employee exit surveys allow for analytics to identify patterns in employee feedback, which assists organizations pinpoint recurring issues, like employee dissatisfaction with career growth opportunities or work-life challenges.
Integration with Other Zenithr Tools
Zenithr’s employee exit survey integrates effortlessly with its other solutions, like the Employee Experience Platform and Elevate, providing a complete guide to employee sentiment and organizational health.
Conclusion
Zenithr’s employee exit survey solution goes beyond mere data collection, by providing employers with guaranteed action tools. By integrating feedback into actionable strategies, organizations can reduce employee turnover, improve workplace culture, and retain top talent.
