You hear a lot of talk about the high cost of turnover, but press a business owner for the actual costs and they often can’t come up with a number. That is, until, they start to identify the hard expenses, like the price to post a position, the fee of a headhunter, or the overtime rates for the existing staff who pick up the slack.
Many of the costs, like overworked remaining staff, decreased productivity, and lost knowledge are often the hidden costs of turnover. Add it all up, and the actual and hidden costs are staggering.
One of the best ways to reduce turnover is to make sure each employee is a match for the position. As you know, an employee can have the right experience, spot on skills, and appropriate education, and still fail at his or her job.
The reason for the job failure often is because the employee’s natural wiring is not a match for that particular position. When you have a mismatch, what you often see are symptoms, such as the employee is disengaged, the employee is stressed, or they are ineffective despite working long hours.
In a recent Productivity Lab, we discussed the advantages of aligning the optimal wiring with the right position. I shared the story of one of my clients had an opening in their sales department. They tapped an employee who had a long history with the company in an established division to move over to create a brand new division from scratch.
Everything seemed to be a fit. He had the right experience and education. By all accounts, it should have been a win for everyone.
It didn’t take long for everyone to be at their wit’s end. Try as he might, the employee used all of his ways of cultivating relationships with brand new vendors. You see, his process for contacting and cultivating new relationships was very much like a farmer. He would plant the seed, follow up, and eventually set an appointment. He was analytical, reserved, and methodical in his approach.
What the start up business division needed in that position was a sales hunter: Someone who had a competitive drive, high sense of urgency, and the ability to undertake risks and assume responsibility for them. They would be wired to respond positively and actively to challenges and pressure.
Not all sales positions are created equal just like not all sales people are wired the same. Match the job success factors with the natural way a person executes and you’ll find a win for everyone: for the employee, for the company, and for the customers.
Being able to assess how you are wired has a greater influence on your profitability, productivity, and results than you might realize. When you create an awareness around your natural wiring, you create the means to manage and motivate yourself and others effectively.
To learn more about your own natural wiring, join us for Wired to Win! Your Path to Passion, Purpose, and Profits. Learn more and register now for this online, interactive program at http://www.excellerateassociates.com/wired-to-win