Purpose-driven - C-Link Consulting https://www.c-link.consulting Drive value and maximize your exit Wed, 29 May 2019 23:56:27 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.c-link.consulting/wp-content/uploads/2018/05/cropped-C-Link-Site-Icon-32x32.png Purpose-driven - C-Link Consulting https://www.c-link.consulting 32 32 3 Key Points about Staff Turnover https://www.c-link.consulting/turnover/ Tue, 26 Mar 2019 21:46:18 +0000 https://www.c-link.consulting/?p=1155 1. It’s bigger than you think 51% of your employees are considering a new job. Realistically, they won’t all quit at once, but the average turnover rate was 26% in 2017. Look around the office and imagine how difficult it will be to replace a quarter of your team and the impact it will have…

The post 3 Key Points about Staff Turnover first appeared on C-Link Consulting.

]]>
Don't let your employees quit on you.

1. It’s bigger than you think

51% of your employees are considering a new job. Realistically, they won’t all quit at once, but the average turnover rate was 26% in 2017. Look around the office and imagine how difficult it will be to replace a quarter of your team and the impact it will have on the business. How will it affect your workload?

2. It’s preventable.

52% of those who quit said that their manager could have done something to prevent them from leaving. Moreover, 51% said that in the three months before they left, neither their manager nor any other leader spoke with them about their job satisfaction or future with the organization.

Managers need to overcome their fear of asking employees if they are happy. Employees know how they feel and asking isn't going to suddenly make them realize they are unhappy. It may not be possible to "fix" everything, but everyone likes it when their leader shows an interest in their wellbeing.

3. It’s costly.

Do you know how much your retention issues are costing you? The Pew Research Center has found that 40% of employees leave before the 13-month mark. The Michigan Talent & Economic Agency estimates the costs are around $15,000 for the average ($22.50 p/h) employee.

For a 100-person company, the average 26% turnover costs around $390,000 every year. If your company is mostly new-hires, who are more likely to leave, it could be as high as $600,000.

What is it costing you?

Purposeful improvement

If you'd like to avoid the disappointment and frustration of employees quitting, and the impact it will have on your profitability, consider implementing a purpose-driven organization.

Purpose-driven organizations engage your employees with the mission and their work, reducing the incentive to look for other opportunities. This begins with a great onboarding system to quickly connect new employees with the mission, so you can drive up your retention rate by 26%.

We are looking for passionate leaders who not ready to watch their best employees leave. C-Link Consulting can help you. Call us now at (248) 781-0150 to start the change.

Take our free assessment

You might also like:

Worried AI is crushing your exit value?

March 24, 2026

Most owners focus on the “number,” but the secret to long-term satisfaction might surprise you: Legacy.

February 13, 2026

Exit value and the multiples are the way to judge success. What else matters?

February 7, 2026

“My business is a legacy that I’m going to pass to my kids. That’s the best thing for everyone.” Is it?

January 29, 2026

No one wants to leave a mess for their family. They want to leave a legacy. What will you leave?

January 22, 2026

How can you avoid the pain of Seller’s Remorse?

July 9, 2024

The Great Knowledge Loss

May 2, 2022

How employee turnover impacts revenue

May 29, 2021

Tough questions for your business

April 9, 2020

13-Week Cash Flow Analysis: Free Template & Strategic Next Steps

April 4, 2020

Tags

#competitiveadvantage #culture #innovation #diversityatwork #decisionmaking #growth Autonomy Best decision Brainstorming cash flow Cashflow Challenge Coaching Commitment Control Decision-making Empathy Employee retention Engagement Exit Planning Expertise Feedback Implementation Implementation cost Implementation issues Initiative Innovation Listening skills Low profit margin Management Motivation Predicitive Index; Knowledge Loss; Hiring Costs; Production Profit Profit margin Purpose-driven Quota Responsibility Retention Revenue Risk Social capital Staff morale Staff retention Time pressure Trust Turnover Venture Capital Workload Work load

The post 3 Key Points about Staff Turnover first appeared on C-Link Consulting.

]]> Want to retain your talent? https://www.c-link.consulting/want-to-retain-your-talent/ Thu, 03 Jan 2019 23:29:41 +0000 https://www.c-link.consulting/?p=1074 Want to retain your talent? Many studies have shown that how you make decisions has a dramatic impact on not only how effective the outcome is, but also whether your team wants to stay working with you. You may be frustrated by how difficult it is to find good candidates for your open positions now,…

The post Want to retain your talent? first appeared on C-Link Consulting.

]]>

Want to retain your talent?

Many studies have shown that how you make decisions has a dramatic impact on not only how effective the outcome is, but also whether your team wants to stay working with you.

You may be frustrated by how difficult it is to find good candidates for your open positions now, but this is going to get worse in the coming years.

Picture of a team engaged in a learning exercise

The percentage of employees looking for a new job:

%

This Gallop survey also found that 47% thought that now was a good time to find a quality job.

There are currently around 105,000 unfilled positions in Michigan.

The Michigan Department of Technology, Management and Budgets estimates there will be 800,000 unfilled jobs in Michigan by 2024

How is this happening? According to the Bureau of Labor Statistics' JOLTS report, since January 2015 nationally there have been more jobs created than candidates being hired.

What does the future look like?

It currently costs around $15,000 to fill the average vacancy1, based on the average wage in Michigan ($22.5p/h) and average time (43 days) to fill a position. 

$
days

Over the next few years, the length of time needed to fill vacancies will increase. If the wait time doubled and you had to increase wages to $25 p/h to get noticed, then costs jump to around $21,000.

$
days

A $6,000 increase is painful, but imagine how stressful it would be waiting 86 days to fill a position. Who will be willing to pick up the workload for 3 months? A couple of other points for consideration:

  1. What will it cost you in additional overtime?
  2. Will your customers suffer?
  3. Will the other employees stay?

A July 2018 survey2  showed that 67% of employees sometimes, very often or always feel burnt out at work. 

 

In 2024, if there are 8 times more vacancies...

If the Michigan Department of Technology, Management and Budgets' projections of 8 times more vacancies are correct, what if it takes 8 times longer to fill vacancies?

$+
days

The real question is what are you going to do if you can never fill a vacancy?

Real results

A client felt embarrassed about having the same positions open on the website month after month. They felt like they had to remove the postings and then re-add them at a later date, to "keep them fresh".

A review of their hiring and on-boarding process revealed issues in three key areas:

  1. Design of the job descriptions was functional and did not inspire candidates to apply
  2. Selection processes were focused the organization's needs, not what the candidate was looking for
  3. Selection processes did not offer the candidate a realistic view of what the job was like, leading to a high drop out rate

A redesign of the process to focus on organizational purpose focused on these areas:

  1. What would inspire the candidates to apply?
  2. Hiring managers had to keep the organization's purpose in mind and take time to understand if the candidate was interested in that vision.
  3. Requiring candidates to shadow staff so they knew what the upsides and more importantly, the downsides of the job were.

The result was a 20% increase in retention of new hires.

Its more than just a job

You will be disappointed if you assume that paying your employees a fair wage is enough to keep them working for you. There are a lot of other employers out there who are prepared to offer more.

We can help you transform your business into a purpose driven organization where employees feel good at the end of the day about what they have achieved. That keeps them coming back.

Don't wait for your employees to leave, call us at (248) 781-0150 to start a conversation and learn how to keep your business secure.

1 (Job Openings and Labor Turnover Survey)

2 Gallop Research  Employee Burnout, Part 1: The 5 Main Causes By Ben Wigert and Sangeeta Agrawal (July 2018)

3 Our calculator is a little more conservative as it takes into account the wages you save by not employing someone. However, it does not factor in the overtime you may have to spend. Click here to use it

The post Want to retain your talent? first appeared on C-Link Consulting.

]]>