Are you frustrated with the revolving door of talent in the building automation sector? Ever trained an employee only to watch them be lured away by a competitor? If these scenarios sound familiar, our latest podcast episode is for you.
Why Employee Retention Matters
In the rapidly advancing world of building automation, maintaining a skilled and dedicated workforce isn't just an HR concern—it's a core business imperative. The cost of replacing a trained technician can range from 50% to 200% of their salary. Given these numbers, the significance of retention becomes crystal clear.
In This Episode
We dive deep into:
- The Reasons People Quit: Beyond just the lure of higher pay, what are the factors pushing trained professionals to jump ship?
- Strategies Tailored for Contractors and Building Owners: While contractors battle in a competitive market, building owners, especially those bound by governmental pay structures, face a different set of challenges.
- The Data Behind Retention: We'll provide statistics that every business leader needs to be aware of, showcasing the undeniable ROI of investing in employee growth and job satisfaction.
- Compensation isn't the Sole Factor: As many as 87% of millennials prioritize professional development in a job. This offers a hint for organizations: upskilling might be the key to locking in your talent.
- The Power of Non-Monetary Benefits: For governmental building owners, emphasizing benefits like job security and long-term pension plans can offset salary limitations.
- Investing in Training Pays Off: Organizations with strong training programs boast an impressive 218% higher income per employee.