We should stop focusing on turnover
Nearly every organization tracks turnover: the number, or percentage, of employees that leave the company. This is a foundational workforce metric and if you aren't tracking this, you should start now.
The problem is that many companies then try to "fix" their turnover. Turnover is a lagging indicator; it confirms what has already happened, but it does not predict what could.
Similar to shifts in safety metrics (to focusing on observations), the construction industry needs to shift the focus from turnover to the leading indicator of employee experience (EX). Investing in a magnetic EX – one that brings great people in and keeps them with the organization – enables companies to win the war on talent.
Employee experience is the collective perception of everything that an employee sees, feels, and does with their organization.
The companies that are investing in employee experience outperform those that do not; not only are they able to attract and retain great talent, they experience fewer safety incidents, decreased absenteeism, an increase in customer loyalty, and profit.
Find out how to make this shift for your company: