According to the Bureau of Labor Statistics, nearly 4% of workers leave their place of employment each month - costing American businesses roughly $1 trillion each year. Not only are there direct costs associated with turnover such as payouts for accrued vacation time and unused sick time, contributions to healthcare coverage, higher unemployment taxes, and severance pay, but there are also less obvious costs associated with turnover around recruitment, productivity, training, knowledge, and morale.
While turnover is a normal occurrence in every organization, there is a lot that people managers can control. 52% of employees leaving on their own accord say their manager could have done something to keep them around for longer.
In this conversation, Bonusly discusses the importance of cooperation between HR leaders and people managers in order to identify and combat unnecessary employee turnover, and how that partnership can improve your employees’ overall experience.
In this on-demand recording, you'll learn:
“Bonusly has transformed the way we activate peer-to-peer recognition at Chobani. The program has brought our amazingly diverse company together behind a common goal of real-time acknowledgement and fostered a genuine spirit of recognition in all that we do.”
“Bonusly has really helped us build a culture of recognition. We looked at some other solutions but knew that in order for this to be successful, it had to be easy use. Bonusly's Slack integration was the right fit for our team: it meets our employees where they already are, and they don't have to use a separate system to give recognition.”