MELBOURNE, AUSTRALIA, October 16, 2015 /24-7PressRelease/ -- New research reveals that staff turnover in the first twelve months in Australia costs businesses $3.8 billion in lost productivity and $385 million in avoidable recruitment costs. Outsource Australia say: "Looking at these figures it becomes clear that businesses must re-evaluate their culture and how they develop their managers." The firm is certain that the high turnover in Australia's businesses could be avoided. "Managers must stop blaming others and analyse their own behaviour in the workplace," adds Outsource Australia.
The research, conducted by Price Waterhouse Coopers (PWC), also shows that 23 per cent, this means one in four staff, leave in the first year. The cost for an individual business is estimated to be 2.5 times an annual salary. Outsource Australia points out that managers must recognise great achievements, address under-performance, encourage creativity and show they care. The firm reveals further details in their leadership guide for managers.
About Outsource Australia: http://www.outsourceaus.com/about-us/
Recognise
Outsource Australia underlines the importance of recognising great achievements, commitments and ideas. Firms may think of an incentive scheme to encourage high performance and officially thank people. "It is as simple as this, a tap on the shoulder, a smile or a thank you can make all the difference," says Outsource Australia. "It motivates people and makes them feel appreciated."
Outsource Australia recommends regular one-to-one meetings to discuss personal development opportunities and review performance on a regular basis. "It is not only important to acknowledge great performance, but also crucial to address under-performance and support individuals to get back on track," add Outsource Australia.
Encourage creativity
Committed individuals are passionate about what they do. Encouraging them to implement their own ideas and help them understand how this can be beneficial for the business increases their productivity levels. In fact, several studies have shown that people who are able to pursue their ideas and passions at work are highly motivated and up to five times more productive than the norm.
Show you care
There are managers who do not want to get personally involved with their workforce and make it clear that they only care about the results. Outsource Australia comment: "This is such a shame. Showing you care makes such a difference. We all spend a lot of time at work. If people do not feel comfortable or looked after, they will leave." Outsource Australia say managers should not cross the professional line to their workforce; however they can show how much they care and increase engagement by supporting them through difficult times, asking them how their exam went for example or even arranging regular events outside work.
Outsource Australia is an outsourced sales and marketing firm based in Melbourne. The firm raises brand awareness on their clients' behalf, targeting a specific audience with their business-to-consumer, business-to-business and event marketing campaigns.
Source: http://www.entrepreneur.com/article/249903
Outsource Australia specialises in creating personalised quality results between our clients and their consumers through face-to-face acquisitions and advertising. The Outsource Australia management team has many years of experience in a range of leading industries, specialising in Telecommunications, Energy, Film, Security, Health & Beauty, Promotional Markets and the Charity Sector.
For more information follow @OutsourceAus on Twitter and 'like' them on Facebook.
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