Finweek English Edition - - INSIGHT: INTERNATIONAL -

Why? Em­ployee turnover can sig­nif­i­cantly erode fi­nan­cial per­for­mance. Re­cruit­ment, train­ing and lost pro­duc­tiv­ity cost com­pa­nies mil­lions in rev­enue. When an em­ployee quits, the av­er­age cost of turnover for one staff mem­ber typ­i­cally ranges from one to t wo years’ salary. This is ac­cord­ing to the Saratoga In­sti­tute, an HR con­sul­tancy spe­cial­is­ing in quan­ti­fy­ing HR ac­tiv­i­ties. This f in­d­ing is sup­ported by re­search con­ducted by Ca­reer­Builder, which found that the av­er­age cost of mak-

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