Employee Retention

Nov 7

Written by:
11/7/2013 9:38 AM  RssIcon

The US Department of Labor Bureau of Labor Statistics reports that more than 2 million people voluntarily leave their jobs each month. The Society of Human Resources Management has found that the cost of replacing an employee ranges from 50 percent of the employee's annual salary to 400 percent of their annual salary. So that employee with an annual salary of $45,000 that just gave his notice -- the cost of replacing him could be between $16,000 and $160,000.

 

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