Failure to retain talent costs firms worldwide in excess of £50 billion per year. The average cost to replace is in excess of £30,000 per employee in the UK taking into account the following;

• Time spent interviewing candidates, particularly if a number of senior people are involved;
• reference checking and administration;
• the induction process and loss of competence before the new joiner is fully up to speed;
• revenue/productivity loss and customer disruption at the point the person leaves; and
• the higher salaries often attached to new hires.

Key reasons employees leave;

• Disengaged: Employee feel they have no belonging or purpose – cultural misfit to the organisation;
• Growth: Lack of development & progression opportunities within the business;
• Feeling unappreciated: Little recognition or acknowledgement for their contribution;
• Feedback: Employees looking for instant or regular feedback from their peers and managers to help them develop

Organisations can now develop more successful retention strategies by demonstrating to new talent and existing employees the power of “Harmony” which is beyond360's unique proprietary SaaS platform.