Cost and Trends of Employee Turnover
By: Bea Northcott, Select Workshops and To Your Door Coordinator, Leadership Johnson County
The cost of employee turnover is real and it sucks. It sucks your time, your money and your team’s morale. Consider that the direct cost of replacing one employee is one-half (Gallup) to four times (Society for Human Resource Management) their annual salary. Add to that the indirect costs – impact on former co-workers, lost expertise and institutional knowledge, reduced productivity during the transition and the impact on customer service and brand reputation.
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