Following are 5 people-related dangers that impact every organization with some tips on how to deal with them.
1. Not Realizing the High Cost of Turnover and Working to Address It
Most sources say turnover costs ½ to 3 times an employee’s annual salary. If you can even save a few employees from leaving the organization, improving your work culture would benefit your organization financially.
A few suggested strategies:
*Conduct Stay Interviews – Read this blog post for more information.
*Identify and address employee pain points – Identify employee pain points by gathering their feedback and implementing a plan to elevate engagement and decrease turnover.
2. Not Know About or Addressing Bad Managers
Managers impact 70% of an employee’s motivation and are still the #1 reason that employees leave.
A few suggested strategies:
*Leadership development opportunities – Offer Leadership Development opportunities such as training, coaching, and mentoring to elevate manager performance.
*Make difficult decisions when necessary - If they don’t improve after being provided development opportunities, move them to another position or out of the organization.
3. Not Managing Disengaged Employees Up or Out
Gallup estimates that 17% of employees in most organizations are actively disengaged, meaning they undermine what their engaged coworkers accomplish and can infect up to 7 other people. These employees cost organizations 34% of their annual salaries.
A few suggested strategies:
*Hold employees accountable using the 5 C’s – Clarity, Collaboration, Courage, Consistency & Correction.
*Use these 3 steps to address.
4. Not Focusing on Compliance
Lack of compliance can cost your organization a lot of money in regulatory violations and lawsuits. Here are some of the HR compliance issues to consider:
• Employment laws that apply to your organization
• Background check process and documentation
• Posters
• Personnel files
• I-9 forms
• Wage and hour considerations - contractors, exemption status, etc.
• FMLA
• Records retention
• Benefits compliance by company size
• OSHA and other Safety requirements
Suggested strategy:
*An HR Audit – An HR Audit is a form of risk management to identify areas or processes that need to be corrected to be legally compliant and protect the safety and engagement of employees.
5. Not Dealing with Employee Stress and Burnout
88% report feeling stressed (ginger) and 75% of employees report feeling burned out (Spring Health). Gallup found that burned-out employees cost $3,400 out of every $10,000 in salary.
A few suggested strategies:
*Provide training and information on mindfulness – One of the best ways to deal with stress and prevent burnout.
*Conduct mental health support training – Educate leaders and employees on how to address and support employees who are struggling.
If you have any questions or would like additional information, please feel free to reach out to leslie@influencehrconsulting.com.
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