Solution Provider Success
For many companies, employee turnover is an unavoidable part of doing business. But businesses that can maintain a long-tenured employee base reduce risk and in turn become more valuable to investors, according to Diverse Technology Solutions CEO Clayton Hart.
"Studies and research show that turnover of an employee is equivalent to one year's salary," he said at XChange Solution Provider 2018 in Orlando, Fla. "I believe that. Why? You put time into that employee. Maybe it takes two or three months to train them. Now they're with you for a year and they leave. What happens? You're losing that investment and time."
Hart speaks from experience, having managed the Islip Terrace, N.Y-based solution provider since 1998. He joked that he has been able to establish "cult-like" employee loyalty during that time, noting that DTS has only lost one engineer since 2009. It's an environment where workers display high levels of respect for each other and remove negativity, he said.
In the following slides, CRN highlights five employee lessons that Hart has successfully applied to his business over the years.