I just listened to a podcast interview about Best Buy‘s internal social network called Blue Shirt Nation. During the interview they mentioned a statistic that absolutely blew us away.
Normal turnover rates for retail employees is 40-60%. However turnover rates for those employees ENGAGED on Blue Shirt Nation is only 8%.
Now if that isn’t proof positive that social networks can improve your retention efforts and keep employees engaged, then nothing will convince you about the power of social networks.
The podcast and related blog post is on the Marketing Edge. Get it here. It’s a must-listen.
Note: Blue Shirt Nation has 18,000 employee members.