Odds are that we’ve all had the chance to work with a “toxic” employee. They’re so prevalent that just thinking about the term “toxic employee” has probably conjured up an image of somebody, past or present, in your office. No matter what their title is, these “toxic” workers are people who tend to be overconfident, unethical, and even corrupt. They’re the kind that everyone at work knows to avoid at all costs – even if they’re a top performing employee.
These “toxic” employees can cost your company millions of dollars
According to a recent article by the New York Post, these toxic employees can cost your company as little as $12,000 per year just due to the increased turnover! The true cost of these employees is much higher, though. You see, not only will your company be out tens of thousands of dollars to train new employees, but your company will also be out money for overall decreased productivity, diminished office morale, and nosediving employee retention rates. And that’s assuming that they don’t get your company into any legal trouble.
In other words, these “toxic” employees aren’t good for your business’s health – especially if yours is a small business.
In the article, the New York Post, they reference a study done by Harvard that shows that getting rid of a toxic employee will boost your bottom line more than hiring a superstar employee. In fact, the study showed clear results that if your company was able to avoid hiring toxic workers to begin with, the average return was a two-to-one compared to hiring a superstar.
In other words, if you want to double your profits, you need to avoid “toxic” employees. Or, if your company already has toxic employees, the best thing for your company (and your employees) is to help them find a new job – elsewhere.
Once you do that, morale, retention, productivity, and overall performance will skyrocket.
And once your team has found its groove and created a culture that is supportive and toxic-free, you’re going to attract more great employees to continue the uplifting trend. All of that is going to have a massively positive impact on your bottom line, your brand image, and your growth. And once you’re in a positive trend, it’ll be a lot easier to find more superstar employees to continue your ascent.
Ready to help your team up the path towards greatness? We’d love to show you some of the proven methods that work to boost morale and motivate your teams. Talk with one of our expert team members when you contact us directly.