Is Millennial Turnover Costing Your Business Millions?

📉 Why Are Millennials Leaving?

GIFT: Click for the PowerPoint on What Perview Socioeconomic Consulting can do about this major business problem

💰 The Hidden Costs

Over 50% of business costs are hidden from accounting reports—and 40% are buried under trauma memories and stuck thoughts that PERVIEW is designed to address.

•Disconnection from Organizational Story and Values: Millennials often seek purpose-driven work environments. A lack of alignment with company values can lead to disengagement.

•Lack of Communication, Coordination, and Cooperation (3 Cs): Ineffective communication and collaboration structures can hinder millennial's' sense of belonging and contribution.

•Burnout, Misalignment, and Unprocessed Trauma: High expectations without adequate support can result in burnout and emotional exhaustion.

Over 50% of business costs are hidden from accounting reports, and 40% are buried under trauma memories and stuck thoughts.

1.Economic Impact:  One trillion $$$ annually due to voluntary employee turnover, which includes millennial turnover. Millennial turnover costs the U.S. economy approximately $30.5 billion annually. This highlights the significant financial impact of high turnover rates on businesses, particularly within the U.S.

2.Replacement Costs: Depending on the role's level, replacing an employee can cost  50% to 200% of their annual salary.
3.Productivity Loss: New hires may take 6 to 9 months to reach full productivity, leading to significant operational inefficiencies.
4.Team Morale and Engagement: High turnover can decrease team morale, disrupt workflows, and negatively impact customer relationships.

Your Next Step

Learn how the SEAM Cloverleaf and the 7 Steps of PERVIEW Coaching diagnose and transform turnover into talent retention.

✅ Strategic Response

Implementing structured methodologies like the SEAM Cloverleaf and the 7 Steps of PERVIEW Coaching can help organizations:

• Diagnose: Identify underlying issues contributing to turnover.

• Transform: Develop strategies to enhance employee engagement and well-being.

• Retain: Foster a work environment that aligns with millennial values, reducing turnover rates.

By proactively addressing these areas, businesses can mitigate the substantial costs associated with millennial turnover and build a more resilient, committed workforce.