The Small Business School Podcast
Ready to leave the small business struggle behind? The “School for Small Business” podcast supports small business owners in scaling a business that is profitable, purposeful, and doesn’t leave you burnt out. No matter whether you run your business online or you own a brick-and-mortar, you can expect our world class experts to support you with mindset, tactics, and everything in between so you can have the business you dreamed of. Based on our lived experience, we know that small business CAN be easy and we are here to show you how.The “School for Small Business” is hosted by Staci Millard, a CPA by trade with over 15 years of experience seeing the behind the scenes of thousands of small businesses. After growing and selling her first 7 figure business, Staci has been on the ground running - mentoring small businesses and working to increase success rates. Staci strongly believes you don’t need to have gone to business school to be successful so you can expect nothing but simple, impactful advice. Tune in each Tuesday for a new 30 minute or less episode of nothing but valuable advice to help you grow your small business. We are so excited for you to be on this journey with us!
The Small Business School Podcast
The Actual Costs of Employee Turnover
Welcome back to Small Business School! Today, we're diving into the hidden costs of employee turnover. If you've ever questioned those hefty price tags people put on employee turnover, you're not alone. Let's unpack why these costs are hidden and how they impact your business!
Topics Covered:
- Unseen costs in profit and loss statements; employee turnover costs are often hidden in opportunity costs and employee inefficiencies, making them hard to spot directly.
- Creating job ads, screening candidates, and interviewing take significant time and money that could be spent elsewhere.
- Prepping workspaces, legal documents, and integrating new hires into the team are time-consuming and costly.
- Without proper systems and leadership, the cost of turnover increases significantly due to inefficiencies and loss of knowledge.
- Investing in leadership skills and fostering a strong company culture can reduce turnover and its associated costs.
Understanding these hidden costs behind employee turnover can help you better manage your team and resources. Let's keep improving our leadership and systems to minimize these expenses and create thriving businesses!
Have questions about what this looks like for you? Reach out to me!
Staci's Links:
Instagram. Website.
The School for Small Business Podcast is a proud member of the Female Alliance Media.
To learn more about Female Alliance Media and how they are elevating female voices or how they can support your show, visit femalealliancemedia.ca.
Head over to my website https://www.stacimillard.com/ to grab your FREE copy of my Profit Playbook and receive 30 innovative ways you can add more profit to your business AND the first step towards implementing these ideas in your business!
