What if the people walking out of your business are costing you hundreds of thousands of dollars a year?
Replacing employees costs far more than most organisations realise.
When someone leaves, the bill includes:
- Recruitment: Advertising, agency fees, interviews and management time.
- Training: Onboarding and getting a replacement up to speed.
- Lost productivity: The time it takes to reach full performance.
- Team disruption: Extra workloads, overtime and increased burnout risk.
- Lost experience: Valuable knowledge, skills and customer relationships.
- Business impact: Potentially poorer service, missed opportunities and lost revenue.
And when turnover becomes a pattern, these costs compound.
Consider a business with 1,000 employees.
Reducing annual turnover by just five percentage points means 50 fewer employees to replace each year.
At an illustrative replacement cost of $10,000 per employee, that’s $500,000 in potential annual savings, and that’s before accounting for wider productivity and service benefits.
Recruitment technology can help identify candidates whose values and behaviours align with your culture. But getting the right people through the door is only half the equation.
What makes them want to stay?
People want to feel respected, supported, recognised and valued. Yet appreciation is often left to chance.
This is where Brownie Points can help.
Our real-time employee recognition platform helps organisations reinforce the behaviours that matter, build a Culture of Appreciation and gain insights into engagement and workplace culture.
For CEOs, it’s a leadership opportunity. For CFOs, it’s a cost worth examining. For HRDs, it’s a way to connect culture with measurable business outcomes.
Recruit for cultural alignment. Retain through appreciation. Measure what matters.
Do you know what preventable turnover is costing your organisation and what reducing it could mean for your bottom line? If not, why not?
Let’s start a conversation.
#Leadership #EmployeeRetention #CostOfTurnover #WorkplaceCulture #BusinessPerformance #BrowniePoints
