Not just a recasting of the survey findings, it's a prescriptive model, applying what we have learned from working with companies to improve their financial results through human capital practices. A diagnostic and planning tool, it implies a sequence of action steps so that implementation happens in an order that achieves the most impact on employee perceptions of the company. There are three important reasons why a company should want to be considered a preferred employer - a Best Company to Work For. Turn your health into wealth Being a Best Company generally means great business results. For example, when we compared the market value of the six publicly traded finalists in the large company category for 1999 and 2000, we found that being best has an enviably positive correlation to total shareholder value.
Employee turnover is a key cost and performance issue for many organizations.
A conservative estimate of turnover expense for a full-time employee shows a cost to the company of roughly one and a half to two times an employee's annual salary. This amount includes the expenses associated with recruiting a replacement, covering the workload of the position while it is vacant, orienting and training the new person, hiring temporary workers to fill in, etc. Another serious effect of employee turnover is the opportunity cost of turnover on company operations. Opportunity cost refers to the cost of not doing something. The drivers of opportunity costs that results from not preventing employee turnover include vacant positions, untrained workers, and employees stretched too thin.