Attrition and turnover are inevitable for any business, but the loss of a quality employee may be more costly than you think.
Hidden costs such as lowered productivity, employees who are stretched thin with additional responsibilities and lost knowledge all add up on top of the training, interviewing and recruiting costs you spent to hire and onboard the employees who’ve left.
To make matters even more interesting, job-hopping is becoming a more common practice among the workforce—according to the Bureau of Labor Statistics, U.S. workers will spend an average of 4.6 years with their current employer, while young employees between the ages of 20 and 34 will only spend half of that, an average of 2.3 years.
This e-book examines some of the biggest reasons why businesses experience high turnover and the causes of frequent job-hopping. We also share tips and strategies you can implement to retain quality employees and job hoppers.