True costs of Staff Recruitment
According to Forbes:
- It costs between 30% and 50% of their annual salary to replace entry-level employees
- It costs upward of 150% of their annual salary to replace mid-level employees
- It costs upward of 400% of their annual salary to replace high-level or highly specialized employees
To reiterate: 400%! That can be astronomical for many companies. To figure out just how essential employee retention should be to your company strategy and goals, look into the eight hidden costs of employee turnover and how the cost of continually replacing employees can be insurmountable over the long run.
Tags: Staff Recruitment