The Management Blog
Tips & advice to help you improve your performance
Every manager needs to keep one figure in mind: every time an employee leaves, it can take six to nine months of their salary to recruit, hire and onboard their replacement.
Thus, if that person made £100,000 per year, it can take from £60,000-£90,000 to replace them.
Due to the fact that modern employees are not as loyal to their jobs as in the years before, managers have a hard time keeping their star players.
A high employee turnover can devastate a company, forcing remaining employees to pick up the slack, and causing a loss in sales while a replacement is sought.