Employers know that employee turnover is expensive—but they may not know quite how expensive.
HRDive reports that it can cost 33 percent of an employee’s salary to replace him once he’s bailed from the job. Someone making a median salary of $45,000 a year, in other words, will cost his former company $15,000 to find a replacement.
And those bosses have nobody to blame but themselves, according to the Work Institute’s 2017 Retention Report, which says that 75 percent of the causes of employee turnover are preventable.
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