The True Cost of Turnover
Your mid-level employees probably make about $50,000 a year. If their employment is terminated, you might as well send them with a $10,000 sign-off bonus, because that’s about how much it will cost to replace them.
Even this statistic doesn’t account for the impact turnover has on lower morale, loss of knowledge, lower engagement, and slower growth, to name a few. So what can unhealthy employee turnover actually do to a business, and what can you do about it?
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