Increasing Company Profit with Loss Prevention
Updated: Apr 25
Increasing profits through employees and loss prevention
Decrease loss prevention and increase employee engagement.
Facts! Facts! Facts! Facts! Your employees may be dropping your company's earnings. More employers do not know that when an employee leaves or is fired from the company, the company loses earnings. Losing earnings from employees is often due to management. Yes, supervisors and managers. Employees do not leave a job, they leave management. Every time an employee leaves a company loses earnings starting at $10,800 for each employee. Just imagine if your business lost ten (10) employees in three (3) months. That is $108,000 in earnings the company lost. If it is 20 employees, that’s $216,000 in earnings the company lost. That is a lot of earnings lost from employees leaving a job and the business owner's profits decreased.
How Loss Prevention Decreases Profits
Most business owners believe it is loss prevention where their earnings are lost, it is not just loss prevention. A company's loss prevention is their employees leaving their company making your company lose earnings. Many employers have a decrease in profits not realizing and trying to figure out why they are not making much of a profit. They lose profits because of employees leaving or being fired. No employer would have thought that losing employees would decrease their company's earnings, but it does. Employee turnover is more important to a company than a company ever thought. High employee turnover will lower your net profit. High employee retention is best for a company to increase earnings. However, the company must have a careful plan to keep employees from leaving.
Loss prevention is losing inventory. A company's main inventory is the employees. With a stable line of employees, a company wins. Supervisors and managers can be set up to keep a company from losing its employees with tools that can be used. Don't lose profits anymore. Get a free consultation to see how your company is doing.
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