For several reasons, getting a thorough and effective employee handover is essential for small businesses.
For one, it can help to ensure that the outgoing employee's work is completed correctly and that any ongoing projects or tasks are not disrupted by their departure.
Additionally, a thorough handover can help the incoming employee quickly and effectively take on their new role, reducing the time and resources the company needs to spend on training and onboarding, which can also help improve the business's overall productivity and efficiency.
According to a study by the Society for Human Resource Management, the average cost of replacing an employee is about 21% of their annual salary. This cost can be significantly reduced if the outgoing employee provides a thorough and effective handover. It can help the incoming employee quickly get up to speed and begin contributing to the business.
Another study by the Work Institute found that the average employee turnover rate in the United States is about 27%, with the majority of turnover occurring within the first six months of employment.
This high turnover rate can be costly and disruptive for small businesses, requiring them to hire and train new employees regularly. Providing a thorough and effective handover can help reduce employee turnover, as it can help to ensure that new employees can quickly and effectively take on their roles and become productive members of the team.
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