How much does your employee turnover cost you? Double it!!
When CEOs estimate their turnover costs
The actual cost is generally 2 to 3 times their estimate
Money swirling into a bottomless pit
When confronted with their calculated cost - they are stunned
Sometimes they object to the calculation - "it is puffed"
My response to their objection?
"Fine, it is puffed by 50% - so you are only spending $500,000/year"
I have discovered certain truths about Employee Turnover/Retention:
- You can cut your turnover by 10-20% with LITTLE EFFORT
- Reducing 21 - 50% will take more effort - but LITTLE COST
- Recruiting COSTS SAVED will be many times greater
- PRODUCTIVITY INCREASES will be many times greater
- You can MAINTAIN the NEW STANDARD
Want some help with your turnover?
Elevating HR with financial principles
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