The Great Resignation: Why Employee Turnover Is Killing Businesses
The Intangible Costs Of Employee Turnover
Trust is another intangible cost of employee turnover. As many leaders intimately know, trust is a vital currency for businesses. It can be near impossible to effectively operate without trust or win clients, much less execute on a corporate mission. Each of these is a factor impacting the overall organizational health. Organizations that promote cultures of trust consistently outperform their peers.
Many of the frontline workers in my business build relationships with regular guests. Take the bartenders and the Tuesday night crowd as an illustration. Over time these bartenders build customer loyalty because they consistently deliver high-quality service, are friendly and relatable.
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