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How much is staff turnover costing your business?

By April 8, 2024 No Comments

How much is staff turnover costing your business?

Ideally, business and HR leaders want to keep the employee turnover rate in their organisation as low as possible. According to industry insiders, a 10% turnover rate or lower is considered good, especially if the attrition comes from the bottom performers.

10% is a good number to keep things fresh with new employees bringing new ideas with them.

Unfortunately, we are seeing many companies suffering from 2-3 times that %.

Worse still, if you have a high turnover of staff and many of your leavers are your top people, you are in trouble.

If you don’t have an employee engagement strategy in place to attract and retain talent, the high cost of turnover is going to seriously affect your bottom line.

To see how much employee churn is costing you, click on the link below.

Tony Delaney, CEO Brownie Points Software.

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