Global Study of 1,700 CEOs

August 16th, 2012   •   Comments Off   

IBM’s 2012 Global Study of 1,700 CEOs

• 71 % CEOs said human capital is more important than customer service in sustaining lasting value in their organizations
• To engage employees the CEOs in the study focus on three organization attributes

1. Ethics and values  –  65%
2. Collaborative environment  – 63%
3. Purpose and mission  – 58%

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New Turnover Cost

With the advent of social media (Twitter, YouTube, Facebook, etc.) there is a new cost to turnover.

There are numerous ways to calculate turnover costs including:

  • Direct costs: salary, fringe benefits, relocation costs, search firm fees, etc.
  • Hidden costs: lower morale, existing employees doing two jobs (poorly), customer service suffers, lose a potential sale, etc.
  • NEW COST TO CONSIDER – your company’s reputation because of social media.

Each turnover employee can potentially tarnish your company’s reputation.  In seconds they can put something on Facebook, Twitter, YouTube that can make it  more difficult to get new customers or good employees.   Not having the right people in the first place is very costly.

 

 

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