Creativity, knowledge, and problem-solving skills
Production and output for the business
Innovative and dynamic skill sets aimed at contributing to revenue and profits
Human Capital Management
Turnover is Eating Profits and No One Realizes It
The financial impact of high turnover includes new recruitment and training costs, administrative expenses, and potential client losses. The human impact on the business will result in lower morale and less motivation, along with higher stress, which results in decreased productivity. Thus, your bottom line is dealt two major blows when you don’t have a strong human capital management and employee retention plan in place.
See For Yourself
Take a look back through your company’s HR expenses for the past six months, even. Look at how much was spent on recruiting, screening candidates, training, and administrative tasks related to hiring—you might be surprised at the amount. If you’re looking for profits, your HR department is sitting on plenty. Integrate and realign to cash in on them and improve your overall HR operations at the same time.