NEWSLETTER | TITANS

The Value of an Exit Interview

Staff turnover is one of the most significant HR costs in any business. The direct costs seem obvious; recruitment advertising, screening, interviewing, reference checking, assessments, contracts, followed by induction and training, all in terms of the hard costs and the allocation of resources, time and staff. Based on a review of 30 case studies in 11 published research papers, The Center for American Progress estimated the cost to replace a worker to be one-fifth of an employee’s annual salary. The indirect costs are less obvious but potentially greater; the loss of knowledge and experience, lowered productivity due to the vacant position and the increased workload of other staff taking on added duties and responsibilities and the possible negative impact on staff satisfaction and morale.

 

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Company Governance a Key Concept

Governance is much more than a mere word. Speaking to Neotel’s company secretary Calvin Theko, one deduces that it is his passion. And his passion is as clear as the objectives of the governance function itself. He explains: “At Neotel the governance function actually encompasses more than the administration and maintenance of company and meeting logistic management. That is not the full scope of what we are doing here. Since only one of our eight directors are in South Africa, it means that part of our job is to raise their awareness of the governance environment they may encounter, since theirs may not necessarily be the same as in South Africa. A critical part of our time is spent on supporting the directors to continuously be cognisant of the local requirements, rules and regulations.”

 

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Transformation into the Future

For a host of reasons, the year 2013 is one that will be remembered by many South Africans. The year will hold particularly fond memories for the Metal and Engineering Industries Bargaining Council (MEIBC) says Thulani Mthiyane, General Secretary, Metal and Engineering Industries Bargaining Council. CEO Magazine met up with the General Secretary to reflect on the year that was 2013 and have a sneak peek into what lies ahead in the near future. Amidst many strides and achievements made during the year, Mthiyane shares that a solid foundation for transformation has been laid. “The Council shall endeavour to continue to offer a service oriented approach and continue with the good works of its previous leadership. “When my predecessor assumed office, he was tasked with transforming the industry to reflect the industry that it serves. They were tasked with formulating strategies that would make the MEIBC a well-known brand in general. We are building on their efforts and implementing the outstanding plans from their strategic document,” says Mthiyane.

 

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