Employee turnover costs way more than most owners realize: retraining, rehiring, lost productivity. Mark Kohler admits he and other new business owners ignored this for years, treating it like a capital problem only after a decade. Shadowing someone for a week then taking over their job doesn't work.
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Employee retention is like a superpower. The ability to retain employees is highly valuable. The cost of employee turnover is dramatic. It doesn't show up on your P&L, but if in your business, if people are leaving regularly, you are retraining, you are rehiring, you're getting people up to speed. It's not months. And so what, what we did is we started focusing more on employee retention and then also how are we onboarding those employees? Making sure we're interviewing better, but also when we onboard them. Like, if your training program in your business sounds like this, you have a problem. Oh, shadow this person for a week, you'll see what they do, and then you do their job. Good luck. Yeah. Yeah. If that's your like onboarding and training program, that's not great.
Our mistake was not really realizing the cost of turnover. We were new business owners. You get busy. Oh, that employee left or whatever. Uh, okay. And it's like currency. It's a capital. And I don't think we took that serious the first 10 years of our business.
