Dec. 17, 2024
Turnover Troubles: The Cost of Losing Talent
In this episode of One Pour Problems, Sal Marino is joined by Colby Coombs, CFO at Westminster Tool, for a candid conversation on one of the biggest hidden drains on your business—employee turnover. Colby breaks down the financial impact of losing great people and explains how hiring for cultural alignment, not just skills, is critical for long-term retention.
From identifying burnout before it’s too late to understanding what really motivates your team, this episode is packed with practical insights for business leaders looking to build resilient, high-performing teams that last.
Perfect for listeners interested in:
employee retention strategies, hiring best practices, reducing turnover costs, company culture, burnout prevention, CFO insights, and team leadership in manufacturing.
Sal sits down with Colby Coombs, Chief Financial Officer at Westminster Tool, to dive into the challenges of employee turnover. Together, they explore strategies for hiring to fit company culture, as well as the principles of "hire slow, fire fast" and ensuring that the "right person is in the right seat." They also touch on the importance of avoiding employee burnout and the value of understanding what motivates each team member.
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The financial impact of employee turnover
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Culture vs. competency: What matters more?
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The “hire slow, fire fast” philosophy explained
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How to retain employees and boost morale
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Recognizing burnout before it’s too late
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Final thoughts & key takeaways
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English (auto-generated)