The real cost of Employee turnover may never be fully measured, especially if a business, firm, agency or organization never returns to the full level of productivity, service or efficiency that was experienced prior to the employee loss. Different human resource development experts have estimated a cost of $5,000 to $7,500 to replace a technical or support staff person working at an hourly level and in excess of $50,000 to identify and hire a mid-level, salaried staff member. The cost of senior leadership and executive-level staff can exceed $100,000 or more depending on their role, responsibilities and experience level.

 

What to Expect:

A recent Harvard Business Review blog cited some alarming numbers:

  • 40% of workers are planning to look for a new job within the next six months
  • 69% say they’re already passively looking