The cost of replacing an employee can be as much as one-third of that employee’s annual salary, according to Employee Benefit News, as reported by HR Dive. In addition, the indirect costs of a vacating employee include lost knowledge, recruiting time, and time for training new hires. The key factors that cause people to change jobs are career development (22%), work-life balance (12%), managers’ behavior (11%), compensation (9%), and well-being (9%).
Recruiters can work with clients to increase transparency about career potential of a position and work demands in order to attract and keep the right candidates.
Source: HR Dive, Study: Turnover costs employers $15,000 per worker
