What do you do when your high performing employees face a career limiting experience? Do you passively support them, or do you proactively invest in employee health?
When you consider the high cost of employee turnover, the idea of investing in employee retention makes economic sense. When viewed through the prism of social responsibility, it makes humanitarian sense. When you realize that the employee who may one day need help could be you or your loved one, it makes personal sense.
The costs of employee turnover include:
Lowered productivity. Tasks done by the lost employee will either be left undone, in whole or part, or farmed out to other staff who may need to neglect other duties.
Overworked remaining staff. When staff are overworked, something suffers, whether it is work quality, staff satisfaction or employee engagement. Worryingly, this can lead to more staff loss, or disengaged staff.
Lost knowledge. Whether it is customer knowledge, product knowledge, or even the organisational history, losing key staff means valuable knowledge leaves with them, and it can’t always be retrained. If that staff member who just left is the key contact with a big customer or supplier, you may face significant business risk.
Training costs. Onboarding employees takes time and effort, and training new team members in specific skills or in cultural expectations can distract productive staff from the main role they are employed for. While thorough employee induction is a worthwhile investment, you want to protect that investment by retaining staff for as long as possible.
With one in five Australians experiencing depression at some point in their life, it’s smart business to develop policies that encourage proactive investment in the mental and emotional health of your workforce.
Ensuring professionals who have been experiencing stress, depression, substance misuse, dependency, grief or loss have the support they need is why The Banyans was created. Workforce presentations can be arranged for your Board or Senior Executives, or for your human resources and talent management team.
Designed for integrated restoration, and with an expert team of therapists, health practitioners and wellness coaches, The Banyans is a place where body and soul prosper in an environment of rest, wellness and inspired living.
Call us now on 1300 BANYAN (1300 226 926) or complete a digital enquiry on our contact page for a confidential discussion about how you or someone you care about can benefit from The Banyans.