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In fifteen national studies on the turnover cost of an $8.00 per hours employee, using the average of three highly respected organizations, SHRM, AMA and the DOL, the average cost was $4277.68, or 25.7% of this employee's annual wage. (if you would like a copy the results of these 15 studies, send me an email at steve@retainingprofits.com) Moving up the salary structure, the figures become more horrifying: Entry Level/Secretarial/Administrative: 50%; Service and Production: 60%; Skilled and Professional: 100%; Supervisors, Middle Management: 125%; Engineers, IT Specialists: 200%!
Perhaps it's time explore where these estimate come from, then if you do not believe the results you can come up with your own figure...
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Common topics in this essay:
- Cost Of Employee Turnover
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