If you're one of those folks who think that employees who aren't "into" your company should just be replaced (it's a buyers market right now isn't it?), then think again. The Society for Human Resource Management (SHRM) estimates that it costs about 50% of an employee's salary to replace them. But that's only if they are an "average" employee. If the employee who is disengaged has specialized skills or a high level of authority, the act of terminating the employee and bringing in a new one can soar to as high as 400%!
I know I've written on this before, but there is still a mentality among many leaders that each person below them is as replaceable as a worn out part in a car engine. Outside of the SHRM estimate is the additional cost of low morale, lost productivity, and general fear and frustration on the part of your team. There are times when a person has to go, but some thought about how to turn unproductive attitudes and behaviors into high contribution is worth you time and effort.
At 11:00 am EST today (Jan 25, 2012), Ken Blanchard ("Leading at a Higher Level") and company will be hosting a free webcast called "Quit and Stayed" which looks at the issue of employee disengagement and will address strategies and methods for re-engaging those employees. I'm one of the featured speakers and will be focusing on the difference between your view and that of your employees. I'll be joined by many other experts such as Lee Cockerell of Walt Disney World Resort, Grace Gorell of the University of Kentucky, Mark Miller of Chick-fil-A and many others.
You can register at www.LeadershipLiveCast.com.
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