Inventory (C LI), and Total Asset Turnover (T ATO) aren’t ...
Who Says They Aren’t Motivated? The Financial Burden of Turnover.
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Transcript of Who Says They Aren’t Motivated? The Financial Burden of Turnover.
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Who Says They Aren’t Motivated?
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The Financial Burden of Turnover
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The Financial Burdenof Turnover
Scheduling Interview
Conducting Interview
Background Check
Processing Paperwork
Orientation
Attending Job Fair
Exit Interview
Advertising & Recruiting
Drug Testing
Fitting & Providing Uniform
ALL ASSOCIATED COSTS AND % OF OVERHEAD TO MAINTAIN DEPARTMENTS
COSTS INCURRED BEFORE TRAINING:
STAFF LABOR COSTS: OTHER RELATED COSTS:
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The Financial Burdenof Turnover
Take annual cost of training (staff, materials, facilities, % of overhead, etc.)
Divide by number of employees.
This gives cost of training per employee
Typically, training costs are between1% and 6% of payroll.
TRAINING COSTS
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The Financial Burdenof Turnover
Revenue lost from position unfilled
Worker not yet up to speed / still training
Supervisor concentrating on new worker and not other duties
Poor performance due to cycle of of low motivation … low productivity … low retention leading to lower margins / lower wages / low motivation / low productivity …
LOSS OF SALES due to lack of productivity and / or poor customer service.
PRODUCTIVITY LOSS
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Motivation / Retention 101
Skill Variety
Task ID/Significance
Autonomy
Challenge
Recognition
Potential of Additional
Advancement
Sense of Achievement
Camaraderie
Strong Communication from Management
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On-site Survey,Successful Managers...
Said “thank you” Let workers know they did a
good job Greeted people as they came in Communicated information from
higher-ups (buffered rumor mill) Pitched in, got hands dirty Gave direct feedback,
respectfully Explained importance of job
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Survey:Successful Managers...
Asked questions showing personal interest
Did special favors (took to lunch, extra time off, etc.)
Were honest and fair…didn’t let anyone get away with slacking off
Backed them up with management Joked around and allowed joking
around
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Do I or Don’t I?
Personal Motivators
ReasonsTo
Work well
ReasonsNOT To
Work well
+ 3 - 3
+ 2 - 2
+ 1 - 1
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CAN’T VS. WON’T CAN’T
Want to…don’t know how
WON’T Can…don’t want to
PERFORMANCE=
Motivation x Abilitydegree they want to x degree they can
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If An Employee Seems “Unmotivated”, Maybe They...
Think they’re already doing it Don’t know how and were afraid to ask Don’t understand “why” Are negatively reinforced for doing it right Are positively reinforced for not doing it right Are physically or otherwise unable Haven’t reason to do more than good enough Are being managed by someone else
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Communicate Productivity Message (benefits for good work)
through: Recruitment Interviews Orientation Training Informal supervision Performance evaluations Team and department meetings Demonstrated career pathing Communications from upper
management
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Productivity:You Get What You Give
Publicize and promote it Show management support for it Teach managers how to improve it Expect it Measure it Reward it
To improve productivity on a corporate level, generate a campaign with goals and
benchmarks
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Retention & Motivation
High Turnover Is Not A Reflection On The Nature Of The Workers…
High Turnover Is Management Falling Short In How They Manage The Workforce
And The Supervisory
Personnel Within It.