What is the real cost of turnover?

Mar 3

Bad news -

Turnover isn’t just frustrating it’s EXPENSIVE.

Maybe this isn’t earth-shattering news for you. You know that it is-

-Making it hard to stay fully staffed

-Putting a drain on your training

-Decreasing your productivity

-Increases burnout for remaining employees

But here’s the math-

👨🏾‍💻🧑🏼‍🚒 Imagine that you are a 100 employee team.

💰💵 You pay an average salary of $50,000.

🏃‍♀️🚶🏿‍♂️ You experience the average US turnover rate of 26.3%

Your replacement costs are approximately $660k to $2.6m per year.

(2019, Gallup)

🤯

Good news -

This is preventable. While it is overly optimistic to believe you can eliminate this cost altogether, You can bring this number WAY DOWN. ⬇️

The answer - Creating a strong company culture, A Nurture Culture.

A Nurture Culture is led by people who:

-Care for their employees as human beings above all else.

-Encourage the growth of their team, together and as individuals.

-Endure short-term discomfort, for long-term gain.

What do people want to feel at work? That they belong.