Building and keeping a team of winners.
A major cost of running a business is always staff. Staff turnover adds cost through recruitment expenses, job based training time, error rate, which also weakens the businesses culture, effecting customer service and progress.
Our experience suggests by investing in personal and team development, staff turnover is reduced, giving a tangible reduction in personnel costs. In addition to the reduced recruitment cost, reduced job based training cost and time and a reduced error rate, a very positive result will be a team with longer service, a higher knowledge base and a commitment to their company’s goals and culture.
Culture refers to the cumulative deposit of knowledge, experience, beliefs, values, attitudes, roles, and material objects and possessions acquired by a group of people over time.
If the people are always changing, there is no time to build culture and if there is no guidance provided, any culture won’t be yours.
So, for a small regular investment in people development, a business will become more attractive to work for. A huge benefit is, the people feel valued and have an employment journey to look forward to, rather than ‘just a job’. This will set you apart from other employers. Development, coaches them on how to best work with and understand their colleagues, to break down barriers and build relationships. By encouraging the whole team to understand how achieving the company’s goals can have a positive impact on them personally, through a better working environment, financial security and career progression.
For a business with 50 employees reducing staff turnover from 25% to 15% could save per employee, approximately £10,000 per year in recruitment fees and 20 weeks of productivity. A major saving for any business, but factor in the added productivity and progress a company can make with a more resilient culture, the figures are too big to ignore.
If this is an investment you feel your business would benefit from, contact Bespoke for an initial chat and ask about their discovery visits to formulate a plan that will work for you and your teams.