MANAGEMENT

Detailed explanation-1: -However, employee turnover can damage customer loyalty and even prevent people from becoming repeat visitors. A customer who receives poor service due to negative workplace culture or overloaded employees resulted from turnover might never come back to your store after an initial purchase.

Detailed explanation-2: -Consequently, bad service leads to lost revenue and lowered profits. According to the Serial Switchers report, poor customer service is costing businesses more than $75 billion a year. Companies failing to deliver quality customer service are at risk of losing not only current customers but also potential ones.

Detailed explanation-3: -If an organisation isn’t looking after its customers, the perception will be that it doesn’t treat employees much better, and that will put applicants off. High complaint levels can also lead to workplace stress which can lead to high levels of absenteeism and staff attrition.

Detailed explanation-4: -When employee turnover happens, companies may lose employee productivity, be forced to recruit new employees, suffer from lower morale, miss out on sales opportunities, and have to deal with additional expenses that could have been avoided if they had just held onto the employee in the first place.