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What Is Employee Turnover Really Costing You?

Are you wondering whether or not hiring that employee worth it? Well, It was if you understand where you may have gone wrong and put the right plan in place in order to grow from the experience.

When you decide to be in an intimate relationship, odds are you don’t view it as a transaction but in reality, it is slightly because what’s on the line is the most precious commodity of all… time. As soon as things start to go south (as in not well…) you most likely begin to think of all the time invested in the relationship and whether or not it was worth it. When you become aware of your mistakes, learn from them, and ultimately correct them, you improve.

Employee turnover is defined as the act of replacing an employee with a new employee and is often represented as a negative aspect in the business world. This makes turnover data very unappealing but if not handled correctly, turnover can be a significant blocker of success.

The cost of turnover is more than just replacing a body. Employee turnover includes monetary and non-monetary costs, such as lost productivity, time, and role expertise. The high cost of turnover can be prevented by understanding employee trends and spotting signs before they negatively impact the workplace and the organization overall.