Have you ever wondered how much your staff turnover is costing you? And have you ever sat down, and put a number on it? If the answer is no, then you’re not alone! A survey by the CIPD found that only 7% of businesses know how much staff turnover is costing them.
When a (demotivated) employee hands in their notice, they are taking from you much more than just their skills. The likelihood is that, due to a lack of motivation, they will have been underperforming for some time and, often, this can have a knock-on effect on other employees.
Worse still, this can trigger a domino effect, and lead to others following suit and handing in their notice. All this is going to cost you major time and money.
By fully understanding the true cost of Employee Retention, you can not only save overall costs, but also ensure that you are one-step ahead in what promises to be an increasing power struggle.
We have designed a simple to use Attrition Calculator, to help our clients get a grip on the numbers. Download it today for FREE and calculate the real cost of staff attrition to your business.
You may be surprised by the results!
Do the figures look scary? Find out how Recrion could help to you to hire for attitude and keep your staff motivated, reducing those unnecessary costs.