The high costs of employee turnover are a good reason for making sure your organization has a high level of employee morale. Most people intuitively understand that there are major costs involved when a good employee leaves and must be replaced. But rarely have the costs been set out so clearly or in as much detail as in an article published in October 1999 newsletter of the Publishers Marketing Association.
In that article William G. Bliss includes “a comprehensive checklist of items to include when calculating the cost of employee turnover in any organization.”
What is most useful about this piece is that it shows in concrete terms how valuable it is to keep an employee on staff. And if losing an employee is so expensive, the value of having good employee morale — which helps to retain employees — becomes all the more apparent.
For a detailed outline of what these costs are, take a look at Mr. Bliss’ thought-provoking article by clicking here.
