One of the most costly words in running a business today is “turnover”.

If you ask most business owners, they will tell you that they are in tune with the needs of their employees. Ask the employees and you’ll get a nearly opposite answer. Research from Dale Carnegie in 2020 showed that 85% of CEOs said employee engagement is a top priority, but employees rated leadership lowest in terms of contributing to their engagement.

The reason people look for a different job or career is not always for financial reasons. There are other things like work-life balance, lack of advancement, not knowing what’s expected of them, company culture, and more often than we care to admit, it’s management.

Franchise Business Review, a franchise market research firm, surveyed industry leaders about their employee management practices, and learned that half have never received formal feedback from their employees.

This is a management miss, not an employee miss. If we want to know how our employees feel, and we should, it’s up to us to ask.

The old saying, “people don’t leave companies; they leave managers/ownership” is truer today than ever before.

Unless you ask you won’t know and if you don’t ask, they (your employees) will think you don’t care.

Conducting an employee survey will tell you a lot about what’s going on and not going on in your business.

Today’s workforce demands more transparency and authenticity than ever before. As a business owner, when you focus on how they “feel” working for you, you’ll reduce turnover and attract more qualified and dedicated employees.

To start your process of understanding your employees better,  click here to receive a sample of survey questions you can ask.