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IF they face some issues in their operation, they will usually look for quick fix method or some solutions which are short and in point forms.
To cater for these types of businessmen, I have decided to share my experience in corporate world and hopefully the busy businessmen can benefit from my points form guides.
If you really want to have an effective and workable solutions, you can contact me directly.
I am writing some short solutions in series and will be in e-book forms, where I will highlight the problems normally business faced in daily operation.
Today’s topic is on How to Keep Your Good Staffs
Staffs turnover is one of the problem most of the businessmen face daily.
In this competitive employment market when there is shortage of labor force, all the more important to keep the good staffs under your payroll.
If you are not able to keep the good staff and your staff turnover is very high, it will definitely affect the operation of the organization.
In a short run, you may not see the problem, however in the long run, the problem can be very acute and created some obstacle and difficulty for an organization.
Some bosses said staffs turnover was normal, and after all we could always recruit new one, while the outgoing staffs were serving their notice periods, so not an issue, however is it really so?
I am taking finance staff as an example.
1. When a staff resigns, he has to serve his notice period, assuming the company has already confirmed him on the job after the necessary probation period.
2. While he was serving his serving notice, the company will get the Human Resources Department to recruit his replacement, and assuming the notice period is three months, so by the second month, the replacement could be on board, and there would be proper hand over of the job from the outgoing staff to the incoming staff.
3. So, let’s say the incoming staff is staff 2, he would need to go through probation before the company could confirm him on the job.
4. Since staff 2 had proper handover from staff 1, hence he would be able to pick up where staff 1 left behind, and there was continuity.
5. While during probation, staff 2 found the working environment was not conducive to his liking.
6.Furthermore the work culture was different from what he had experienced before. So he decided to hand in his resignation.
7. Since he was on probation, so he only needed to serve one month notice.
8. Therefore, by the time Staff 2 left, HR had not be able to get the replacement in to take over the position as the new incoming staff 3 needs to serve his notice in his current employment.
9. By the time when staff 3 comes in, no one handed over the job to him, so he had to find out all by himself and tried to understand the job while he learns.
10. Since no one handed over to him, so he had to guess the nature of transactions which he took over and do the best he could.
11. After a while, he felt that the pressure was too great especially with the hostile working environment in the company, and not only his position has high turnover, the rest in the finance department also had high turnover.
12. So staff 3 decided to quit after working for a month or two, before his probation period of 3 months were over.
13. So the cycle continue, HR needed to find another replacement for staff 3 who was leaving, and again he left before the replacement could come on board.
14. Now that staff 3 had left and staff 4 reported for duty after the position was vacant for one month or two, and since there was no proper hand over, staff 4 was just like being thrown into the deep water and swim.
14. So he tried to find out from other staffs in the Finance Department of the background of certain transactions, however the other staffs in the same department were of no much help to him as they themselves were new too.
16. Staff 4 then decided to deal with the work based on his guess work, and did as what he thought was the right way to do, since he had no experience, and did not know how to go about finding relevant information which could help him in his job.
17. At the end of the day, staff 4 also decided to quit as he could not handle the work on hand, as he was not sure what he did was right or not, whether the accounting treatments he put through without knowing the actual background history was the right treatment or not.
18. So the cycle continue and repeat in the whole Finance Department which had high turnover.
What would be the results of this high turnover of Staffs?
The few consequences I could think of are as follows:
1. The account will be delayed since there are back load of works.
2. The accuracy of the accounting treatments are in doubt since the new staffs just do guess work.
3. No one verify the authenticity of the data.
4. Breakdown of internal control due to no proper handover of job.
5. The morale of the Finance Department Staffs will be very low as no one guide them.
6. The external auditors will have a hard time to conduct the audit as they would not be able to get the required information since all the finance staffs are new.
7. With the delay in updating accounting records, the management is not able to have an updated information on accounting data, thus hindering their effort to have the available updated information for them to make business decision.
If you want to know how to keep your good staffs, please drop me a message or purchase the e-book I have on lazypeopleguide series and have a quick fix of your problem.
We only offer workable solution and not producing voluminous report on how to do this or that, hence the short solution series.