There are many factors involved in the creation of any company’s culture. A company’s mission, management structure, work environment, employee satisfaction and employee engagement are all part of what makes up the larger picture of a company culture.
Ellis Mobile Chiropractic helps specifically with the employee satisfaction component by introducing on-site chiropractic and wellness programs (This will include a link to the wellness page).
The costs of employee turnover are as much as 1.5 to 2 times an employee’s salary
– Josh Bersin
Why should you care about employee satisfaction? In short it increases your bottom line
#1: It saves you money…a lot of money
Employees with a high degree of workplace satisfaction have a greater retention rate, and as you already know employee turnover is a killer to the bottom line. Cost of sourcing, hiring, onboarding, and training “The costs of employee turnover are as much as 1.5 to 2 times an employee’s salary”. Of course, these are the hard costs associated with low employee satisfaction and high turnover rates.
A high turnover rate brings lost productivity, lowered employee morale, greater customer service errors, and increased training costs. As it is, training costs are estimated to cost 10-20% or more of an employee’s salary over a 2-3 year period.
Companies with a high degree of employee satisfaction and engagement resulted in workforces outperforming their peers by 147% in earnings
Gallop
#2: It makes you more money!
Gallop found that “companies with a high degree of employee satisfaction and engagement resulted in workforces outperforming their peers by 147% in earnings”
Gallop also found that this increase in earnings was accompanied by:
- 41% fewer quality defects;
- 48% fewer safety incidents;
- 28% less shrinkage;
- 65% less turnover (low-turnover organizations);
- 25% less turnover (high-turnover organizations);
- 37% less absenteeism
Gallop also found that these companies have 86% higher customer satisfaction rating and up to 62% lower healthcare costs.
