If we have a lost cost in our business of $100,000, $500,000 or $1,000,000 would you know about it? Should you know about it? Would you take action to reduce the lost cost?
What is the actual cost of turnover for your business?
Unfortunately, well over 90% of companies do not capture this true cost or know how to calculate it specifically for their company. To get a total annual cost, one must look at the cost per person multiplied by the number of employees lost in a year.