Employee Retention Study
Employee Retention Study

The Real Cost of Employee Turnover

Did you know that:

  • Over 70% of all employees respond to competitors' job offers during work hours?
  • Voluntary resignations are at the highest level in over 20 years?
  • Nearly 50% of all middle managers are either currently looking for another job or plan to do so?
  • Direct & Indirect Employee Turnover Costs. Which apply to your company?

Direct Costs:
Measurable impact on bottom line

 

Candidate Interviews (Multiple)
Candidate Screening
Candidate Testing
Employment Advertising
Employment Liability
Executive Search Fees
Exit Interviews
IT/Security Department Costs
Job Board Charges
Lost Training Expenses
New Hire Processing
New Hire Training
New Hire Orientation
Personnel Department Costs
Recruiter’s Salary
Recruiting Bonuses
Relocation Fees
Remaining Staff’s Overtime Pay
Separation Processing
Separation Pay

Indirect Costs:
Higher than Direct Costs but harder to quantify
     

Delay in Services/Production
Dissatisfied Customers
Employee Theft
Improper Use of Equipment
Inventory Anomalies
Job Errors
Lost Intellectual Capital
Lost Sales
Potentially Unrealized Sales
Reduced Billable Hours
           (From Declining Productivity)
Reduced Morale
Reduced Reputation

Cost of Lost Customers Due to:

Inexperienced Replacement Staff
Remaining Personnel are Overworked so they Underserve Clients causing them to go Elsewhere to do Business
Poaching by Departing Employees

   

Retensa can help you calculate your cost of turnover today. To talk to a retention expert, call us at (212) 545-1280 or email us here.