Voluntary employee turnover can have a major impact on any kind of business. While the specific cost of replacing an individual employee will vary based on industry and employee role, the price tag of employee turnover can easily exceed thousands of dollars. Estimates from Gallup put the annual cost of voluntary turnover in U.S. businesses at $1 trillion per year.
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Employee engagement is vital for productivity and success, with 71% of executives considering it crucial. Recognizing employees for their achievements can boost engagement and inspire similar behaviors in others.
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Discretionary effort is the often untapped potential within your team, the extra mile they can choose to walk – or not – that often means the difference between good and great in the customer’s experience, your performance metrics and profitability. Let's explore what powers this invaluable asset and how you, as a contact center leader, can cultivate an environment that encourages it.
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