Turning Turnover Around
A 5-Step Performance Compensation Program
by
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Are you spending too much money recruiting new employees?
Are you spending too much time interviewing new recruits?
Are you spending too much money screening applicants?
Are you spending too much time training new employees?
Is employee productivity suffering from chronic turnover?
Are you losing profits from high turnover?
Are you and your organization stressed by constant turnover?
Are your previous attempts to reduce turnover disappointing?
Is your company having difficulty expanding due to turnover?
Is your company ready to try something different?
If you answered yes to any or all of these questions, you're not alone. For years, turnover has been a drain on company resources in both time and money. Studies have been conducted to determine the reasons, percentages and costs for turnover. Few industries or companies are immune to these national trends. Many articles and books have been written suggesting a variety of ways to reduce turnover. Some stress the importance of recruiting, interviewing, hiring employees which have become standard practice in many companies. Despite these efforts, employee turnover continues to challenge most businesses. This book will show you how to turn your turnover around.
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About the Book
The costs of employee turnover can be staggering. Not only do they include fully-loaded payroll costs of a vacant position, but they can also rack up overtime and consume managers’ time to recruit and train new hires. Add in lost productivity, and you have a major problem.
Reducing employee turnover will clearly improve how your business functions and performs financially. In Turning Turnover Around, Mark Vonrhein synthesizes years of experience working with hundreds of entry-level employees. Vonrhein has successfully used a five-point plan—the Performance Compensation Program—to increase productivity, keep employees happy, and increase profitability.
The Plan is straightforward. Start entry-level employees below industry average salaries, then clearly define performance goals and post performance results daily. Then, give feedback on a regular basis, and reward your high-performers with incremental, and typically more frequent, pay raises.
To supplement his program, Vonrhein provides wage models that help you match an employee’s pay level to his or her performance. He also shares a wealth of information on the program’s impact, which ranges from more engaged and productive workers, to a healthier bottom line. Combine Vonrhein’s program with his “management tune-up” tips and you’ll soon see turnover turning around.
About the Author
Mark Vonrhein is an employee retention specialist who received his bachelor’s in business from California State University, Fullerton. For twelve years, he has successfully used his Performance Compensation Program to motivate and retain more than nine-hundred entry-level employees. He lives with his wife and two sons in Valencia, California.