Overturning Turnover

Somersault SML WEBWe all know that turnover is expensive. The Society for Human Resources Management suggests that the average cost per employee is around $4K. This figure considers direct costs such as advertising, recruiting fees, and interviewing time.  Costs travel even higher when including more non-direct items such as lost productivity, low morale due to increasing workloads for employees who stay, and the impact on customer service. Now the cost soars anywhere between $10K to $200K depending on the position. Such costs can have a definite and negative impact on profits. There are ways to overturn these expenses through better hiring practices, but after the fact there are also numerous ways to be more proactive about reducing turnover.