5 Steps to Reduce Staff Turnover

By Paul Gosling

Dick Finnegan, author of several books on employee retention, tackles one of the biggest challenges of staff turnover head on.

“One might wonder why a CFO should care about employee engagement and retention,” said Finnegan, CEO of C-Suite Analytics, a US-based consultancy that helps executives tackle staff turnover problems. “And the answer is, it’s probably their biggest expense.”

His view is backed by the results of surveys conducted by human resources consultancy Robert Half, which show that staff retention is one of CFOs’ major concerns.

Costs incurred from workforce churn can be substantial. Yet, too often, CFOs farm out the concern about staffing retention to human resources, and there’s a wall between the finance function and HR, Finnegan said. “But for finance to truly grapple with the greatest cost and the greatest revenue opportunities, they have got to learn not just that engagement or retention are critical but how to fix them.”

Continue reading this article and the five steps to reduce turnover here