Buddy Susan sent this interesting calculator my way. It’s from the folks at the Wyoming Department of Workforce Services and it calculates the cost of employee turnover. It’s rather startling. As Susan puts it,
Really makes ya think (or at least made me think) about ALL the costs associated with turnover, not just the obvious ones. I mean, we all know turnover costs, but when you start splitting it out…yeesh….kinda makes you want to hang onto the employees ya got.
Take a look. You may just decide to coach that employee, rather than look for a replacement.