Wouldn’t it be great if star employees never left?
But we all know, that at some point something will happen that’ll cause one of your “A” players to leave.
What that “something” is may not be in your control.
Problem is, employee turnover costs companies A LOT of money!
Direct employee replacement costs can reach as high as 50% to 60% of an employee’s annual salary, according to the Society for Human Resource Management. And when other factors are included, total costs can soar as high as 90% to 200% of an annual salary.
That’s some serious moola!
So what can you do?
Pay attention to your employees and watch for signs that they may be getting restless, and nip it in the bud.
The typical signs are: