Computing Turnover Costs Through Employment Screening
Knowing how big of a problem you have goes a long way towards helping you solve it. Most managers know that employee turnover is costly, but few have ever put the pencil to it, because they are not sure what costs to include. Below is a helpful guide to help you determine your actual cost of employee turnover. When you are done, ask yourself what are you willing to invest to reduce or eliminate this expense. If you have a $100,000 problem and testing will reduce it by 30 – 50%, doesn’t it make sense to invest $1,000 to recoup $30,000 – $50,000? Testing represents one of the best Return on Investments (ROI) a company can make.
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