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It is estimated that recruiting an hourly-paid worker can cost anything from $2,000-$10,000, with managers costing even more to recruit. These costs shouldn't be underestimated, and illustrate that sometimes spending money on retaining existing employees can often cost a lot less than having to re-recruit them.
Reduced Effectiveness
High turnover of staff can have a negative effect on the effectiveness of your workforce. If your existing employees are always worried about job security, having to train new staff, or thinking about leaving themselves, then they will not be doing such a good job for you...
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Common topics in this essay:
- High performance work system
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- To what extent does the Human Relations Approach to the design of work and management of people represent an improvement over work designed and managed according to the principles of Scientific Management?
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