Asking Employees the Right Questions Can Save Your Company Millions in Turnover Costs
Asking the right questions can save your company millions in turnover costs. Research states that 57% of women -- and nearly 60% of women of color -- plan to leave their workplaces in the next two years or less. Twenty-one percent say they will leave sooner than that. These statistics are concerning, and they ought to prompt organizations to evaluate how their employees perceive their work environment. An honest assessment can reveal how -- and if -- your company is equipping your employees to succeed as well as whether your current initiatives and efforts are supporting the level of impact you’d like your employees to have. Here are four questions to include in your assessments:
Do you feel like your role is being fully utilized for opportunities you would like to participate in?
What current initiatives at the organization do you feel are focused on supporting gender diversity in leadership roles?
What initiatives or resources would you like to see offered that can support you and solve the challenges you currently face?
Do you have accessibility to mentors or sponsors? (*This question is directed toward those interested in growing in their role.)
In many initial assessments with my clients’ employees, I have seen a need for resources that support mental health and well-being. I have also observed that many employees feel anxious about losing their job or being laid off if they express difficulties or concerns. And finally, I’ve noticed growing stress around raising a family while trying to meet business needs as well as finding time for themselves. Across the nation, many employees struggle with burnout or being completely overwhelmed.
Addressing employees’ needs and struggles has a great outcome for the company as a whole. Creating better resources and solutions for employees can result in a 3-5% increase in retention, which can save over a million dollars in turnover costs for many companies. We Optimize Work helps organizations who seek resources to support their current initiatives for retention of high-potential women in the workplace and gender diversity in leadership roles. Visit www.weoptimizework.com to book a call with me, or message me personally on LinkedIn to learn more. Have an optimized day!
