Employee turnover can be a challenging issue for any business, especially when it becomes a recurring pattern. Whether due to employees leaving voluntarily or being let go, a high turnover rate is not only costly but can also affect team morale, productivity, and company culture.
For business owners and leaders, understanding and managing turnover is essential. This article covers the key aspects of measuring employee turnover and explains why it’s a crucial metric for any business aiming to build a stable, effective team.
What Is Employee Turnover?
In simple terms, employee turnover is the rate at which employees leave your business within a given period.
It’s calculated by dividing the number of employees who left by the average number of employees during that period, then multiplying by 100 to get a percentage.
For example:
If your business had an average of 40 employees in 2024, and six employees left throughout the year, the turnover rate would be calculated as (...
Hello, and welcome to Episode 248 of the People Powered Business Podcast!
Can you believe it’s already December?
I’m excited because inside our People Powered HR community, November is Planning Month!
I really believe this is the best time of year to work on your 2025 plans – because let’s face it – none of us will do it in December, and if we wait until January we’ll be in February before we put our plans into action.
Over these 3 episodes we’re talking planning. Last week we spoke about your 2025 business protection plan, and the week prior we focused on your 2025 resource plan, today we are getting into your retention and motivation plan and why you actually need to start this side of Christmas.
In today’s episode we are looking at:
As 2024 comes to a close, business owners and leaders are preparing to wrap up the year while also setting their teams up for success in 2025.
The final weeks of the year are an ideal time to celebrate your team’s hard work, ensure compliance with the latest regulations, and start planning for what’s next.
Here’s a checklist of sorts to help you streamline your end-of-year activities, maintain engagement through December, and lay the groundwork for a strong start in the new year.
In 2024, there have been a range of updates to workplace laws that businesses must stay on top of (let’s be fair, that’s an understatement!).
Taking time now to review your compliance can help you avoid penalties and ensure your business starts the new year on solid legal footing.
Hello, and welcome to Episode 247 of the People Powered Business Podcast!
Can you believe it’s already November?
I’m excited because Inside our People Powered HR community, November is Planning Month!
I really believe this is the best time of year to work on your 2025 plans – because let’s face it – none of us will do it in December, and if we wait until January we’ll be in February before we put our plans into action.
Over these 3 episodes we’re talking planning. Last week we spoke about your 2025 resource plan, today we are getting into your HR compliance business protection plan, and finally next week we will be talking about your engagement and motivation plan.
In today’s episode we are looking at:
Hello, and welcome to Episode 246 of the People Powered Business Podcast!
Can you believe it’s already November?
I’m excited because Inside our People Powered HR community, November is Planning Month!
I really believe this is the best time of year to work on your 2025 plans – because let’s face it – none of us will do it in December, and if we wait until January we’ll be in February before we put our plans into action.
Over the next 3 episodes we’re talking planning. Specifically in today’s episode we’re talking about your 2025 resource plan, next week we’ll get into your HR compliance business protection plan, and finally your engagement and motivation plan.
In today’s episode we are looking at:
As businesses of all sizes strive to create positive workplaces in order to attract and retain great talent, a critical question often arises: Should small to medium sized businesses invest in Employee Assistance Programs (EAPs) and broader wellbeing initiatives? Are they worth it?
Employee wellbeing, once seen primarily as a concern for large businesses, has become increasingly essential for businesses of all sizes.
Let’s explore why EAPs and wellbeing programs are relevant and how SMEs can leverage them to boost productivity, enhance employee morale, and foster a healthier work environment.
Understanding Employee Wellbeing
Employee wellbeing encompasses a broad spectrum of factors impacting a person’s experience at work, extending well beyond job satisfaction.
It includes physical, mental, and emotional health, as well as financial and social wellbeing.
This holistic view underscores that employee wellbeing isn’t merely about addressing work-related stress; it inv...
Hello, and welcome to Episode 245 of the People Powered Business Podcast!
Today on the podcast I’m joined by Ryan Griffin, MD of Chunky Duck, to talk about leading and managing a remote team.
Like many of us entrepreneurs, Ryan’s journey to his current business has not been a straight line. Initially a professional baseball player, he returned to Australia ready to start his career in digital marketing. He worked for many years in marketing agency before turning to scuba diving and juggling freelancing. As Covid hit he went all in on his own digital agency – now known as Chunky Duck.
In today’s discussion Ryan shares the benefits and challenges of managing a remote team, some of the great initiatives he has put in place to create connection and enable collaboration, and why he thinks it’s a great move in terms of attracting and retaining the best possible people.
If you’d like to connect with Ryan you can find him on LinkedIn here, or head over to Chunky Duck to check out their wor...
The National Employment Standards (NES) are central to Australian workplace law, forming the foundation of employee entitlements.
As a small business owner, understanding and complying with these standards is crucial, as they provide a safety net of minimum terms and conditions for nearly all employees covered by the national workplace relations system. This guide breaks down the essentials of the NES, outlining its twelve elements, who it applies to, and some common misconceptions that often lead to non-compliance.
What Are the National Employment Standards?
The NES, introduced under the Fair Work Act 2009, sets out twelve minimum conditions that apply to all employees covered by the national workplace relations system. These standards serve as the baseline for employee rights, meaning no employment contract or workplace policy can provide conditions less generous than the NES. For small business owners, ensuring compliance is non-negotiable, as breaching the NES can lead to signifi...
Hello, and welcome to Episode 244 of the People Powered Business Podcast!
Can you believe it’s already November? The year is flying by, and here we are with another important topic for business owners just like you.
In today’s episode, we’re diving into an area that’s critical but often misunderstood: redundancies.
Recently, I’ve been hearing about a surge in redundancies, especially in business groups, networks, and conversations with peers. But the big question is – are all of these redundancies legitimate, or are they sometimes being used as a workaround for performance issues that should have been managed differently? In this episode we explore why it’s so essential to get this right and discuss the real reasons for this trend.
Inside our People Powered HR community, each month we focus on a specific theme from The P.E.O.P.L.E Pathway. October’s focus was on ‘Exit’ – a challenging but necessary part of business and people management.
The reality is that people will exit our bu...
To break free from micromanagement and reclaim your time and control at work, you need to understand where it sits among different styles of management.
Micromanagement refers to a management style that is typically excessive and controlling and usually exercised by a supervisor or manager. This management style focuses heavily on task-specific elements while often neglecting the bigger picture, such as overall outcomes, staff development, and collaborative teamwork.
Micromanagement can impede team efficiency and arise from several underlying factors. These factors usually encompass a lack of confidence in team members' competencies, a tendency to seek control due to apprehension or self-doubt, and a need to maintain close oversight to ensure tasks meet personal expectations.
Micromanagement frequently emerges when leaders encounter challenges in effectively delegating tasks, motivating their team, and fostering a culture of accountability. Althoug...
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