By: Rick Boxx
September 24, 2015
Many companies don’t understand the importance of tracking employee turnover. Knowing how many employees who are leaving as a percentage of your total population of employees can help you retain good people.
A study conducted by the Center for American Progress discovered that the cost to replace an employee making $50,000 a year or less, costs the average company 20% of that employees annual salary. Training new employees and lost productivity in the interim is expensive!
1 Peter 5:2 teaches, “Be shepherds of God’s flock that is under your care, watching over them—not because you must, but because you are willing, as God wants you to be.”
Knowing how well you are doing in retaining employees is helpful information. Taking steps to retain good people is an investment well worth your efforts.
For some help on retaining good people check out Rick’s “How to Prosper in Business” book.
Learn more about Rick Boxx and Integrity Resource Center