We don’t need to tell you how much an unhappy employee costs, others have successfully rounded up mountains of information and numbers. Our goal is to find out how did it get there, or better yet, how not to get there.
Here are 3 of our favorite infographics on the matter:
We also discovered an employee true cost calculator that we thought you can use.
Employee turnover refers to the percentage of employees who leave a company over a set period, no matter the reason. SHRM estimates the costs of losing an employee to a 6 to 9 months’ salary on average.
“For a manager in the US, making $60,000 to $120,000 a year, there’s a $20,000 to $30,000 cost in recruiting and training expenses.”
The Center for American Progress estimates the costs of turnover to 6% of annual salary for high-turnover, low-paying jobs (earning under $30,000 a year), 20% of annual salary for mid-range positions (earning $30,000 to $50,000 a year) and up to 213% of annual salary for highly educated executive positions. For example, the cost to replace a $150k CEO is $213,000.
A happy employee finds meaning in his work, is satisfied by his achievements and has qualitative work relationships that allow him to be grateful and motivated.
Read more in our recent white paper on Employee Happiness for 2014!
We put together a series of most common happiness drivers that can help you get started:
Hppy can help you identify those happiness drivers in your company, by tracking and monitoring employees’ moods and their triggers.
It also allows you to gather anonymous feedback, providing you with qualitative and actionable information.