Turnover costs more than many realize...
Turnover is the new epidemic in the workplace. Costs often go uncalcualted and most organizations are suffering far greater than many CEOs realize.
According to Josh Bersin of Deloitte, the cost of losing an employee can reach tens of thousands of dollars to 1.5–2.0x the employee’s annual salary. Included are costs for hiring, onboarding, training, ramp time to peak productivity, the loss of engagement from others due to high turnover, higher business error rates, and general culture impacts.
Source: Employee Retention Now a Big Issue: Why the Tide has Turned
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