You’ll hear people talk about the high cost of turnover, but when you try to press for the actual costs they don’t really know. It seems like a mysterious thing that people talk about.
And it’s true–the costs are largely hidden. It doesn’t hit your profit and loss statement. It’s not something in the budget. There are some hard costs, like the cost to post a position on a job board, or for specialized positions, the cost of a headhunter. But, even if you recruit strictly through word of mouth and employee referrals, there are costs to losing an employee. Here are the things you’re paying for.
To keep reading, click here: How much employee turnover really costs you