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Infographic: The Real Cost of Employee Turnover

In any business, employee turnover can be a real problem. Not only does it affect the productivity and continuity of the organization, but it can also reflect badly on the organization as a whole if the turnover rate is too high.

Employee turnover has a variety of associated costs, including interviewing, hiring, training, reduced productivity, lost opportunity costs and more. In this infographic, we’ve provided a quick look at what employee turnover could really be costing your business and why you need to pay attention.

Some interesting stats include:

Overall, companies are finding that it is cheaper to retain and invest in employees than it is to replace them. Evaluating employee performance and providing constructive feedback on a regular basis is the best way to help employees grow. Consider investing in a quality employee evaluation solution today. Request a free trial of Standard For Success to learn more.

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