How much is employee turnover costing your organisation?
Why should I be concerned by employee turnover?
Gallup research found that the cost of replacing an individual employee can range from one-half to two times the employee's annual salary – and that’s a conservative estimate.
Let’s break it down a little. Some costs of replacing an employee include advertising, agency or internal recruiter costs, background checks, plus potential visa and relocation costs.
In addition to this, there are significant indirect costs incurred in replacing a leaver. Factor in loss of productivity whilst the role is backfilled, time taken to interview applicants, time taken to get a new-hire up to pace, and the knock-on impact to customers and colleagues. Employee turnover is a painful and expensive problem that is often overlooked.
By retaining just one employee, our solution pays for itself.
Our talent insights and opportunity marketplace platform connects the skills and aspirations of your employees to existing opportunities within your business so they don’t have to look outside of it. Keen to find out more? Book a 30-min demo today and speak with one of our friendly product specialists to find out how we can help!