Employee turnover is costly to any company. It costs a lot of time and money to replace just one employee. Some companies have to deal with extremely high levels of turnover. At one time, Bradesco was a bank struggling to survive. The economy in Brazil was going through a bad recession, and few people were borrowing money. To make things worse, the company had a major turnover problem.
Luiz Carlos Trabuco Cappi became CEO many years ago. Fixing the turnover problem was one of his first goals. There were several changes that he made quickly in order to improve turnover. Although some of the changes did not impact turnover immediately, the company has one of the lowest turnover rates in the banking industry today.
Employees need to feel like they are paid fairly in order to stay at a company. Employee compensation is a difficult area for many business owners to understand. Most business owners view employees as an expense to the company. This is the wrong approach to take when running a company. Instead, business owners should view employees as an investment.
The Brazilian economy has improved greatly over the past few years. As a result, wages have risen dramatically for workers. Some people are starting to look for employment opportunities to increase their income. This is putting a lot of pressure on companies to offer competitive wages versus other companies in the industry.
Bradesco offers high rates of compensation for employees. In addition, the company offers a bonus program to employees based on the financial performance of the business. This is a proven way to get employees excited about the future of a company.
Employees also expect various benefits outside of compensation. There are numerous benefits that companies can offer to employees. Some companies in Brazil offer health insurance for employees. The health insurance industry is much different in Brazil than other parts of the world. Medicals costs are also much lower than in other nations.
Bradesco offers various benefits to employees. Luiz Carlos Trabuco Cappi is a huge fan of investing in education. As a result, Bradesco offers education benefits to people who want to attend college while working at the company. For some positions, Bradesco allows employees to work remotely. This is a huge benefit for people who enjoy more freedom with their work.
Any business owner who wants to reduce turnover should assess the different employee benefits currently offered. Increasing employee benefits does not have to cost money. It is important for business owners to understand the needs of employees and offer benefits based on those needs.
Future Plans for Bradesco
After many years of struggling, Bradesco is now one of the leading companies in the banking industry. There are numerous companies that have adopted Bradesco’s strategy of investing in employees. This is a great way for companies to reduce turnover and increase profits.
Although Luiz Carlos Trabuco Cappi left Bradesco, he is still involved in the banking industry. He serves as a consultant to multiple companies within the industry.
Learn more about Luiz Carlos Trabuco Cappi: http://www1.folha.uol.com.br/mercado/2017/10/1926243-proximo-presidente-do-bradesco-saira-da-diretoria-do-banco-diz-trabuco.shtml