Connecting the Dots: Technology, Processes, Staff Retention and Client Satisfaction
It’s more important than ever to hold on to your best staff. Not only is it difficult to grow a firm that is consistently under-staffed, but when existing staff leave for greener pastures, they often leave your clients anxious. (And that’s if your clients don’t follow them out the door.) Your clients develop relationships and rapport with your staff. If your staff leaves, you need to be concerned that clients will as well.
Staff retention problems clearly hurt firms’ ability to operate effectively. Multiple studies have shown that replacing employees is an expensive endeavor. Employee turnover costs firms much more than just the replaced employee’s salary. It results in lost efficiency, lost time and even lost business. So how do firms combat this issue?
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