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Sharples (2007) in reporting Dr Cavanagh study refers that, it costs an organisation 150% of an employee's salary to turn over their position. Additionally, an employee's departure results in loss of valuable expertise and the corporate memory.
Organisations are working harder to get the right people in the right jobs ? and keep them there. A recent survey of more than 300 private company CEOs by PricewaterhouseCoopers found that the majority (52%) believe that improved retention of key employees will have a beneficial impact on their company's business performance over the next 12-18 months (Tate 2007, p...
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