The True Cost of Losing a Great Employee is like Flushing Money

Flushing Money Down the ToiletWant to know what it is? The true cost of losing a great employee? Read on and we’ll point out some of the little recognized areas of where financial damage hits when a great employee leaves you. And, we invite you to consider the reverse, which is keeping a poor employee in your ranks which can ultimately lead to the departure of a great employee. Both scenarios are like taking your money and flushing. Saving a great employee also saves you money which is why time spent trying to salvage might actually be worth 1,000 times the time you’ll spend trying to bridge the gap.

Have you added

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it up? Take your money and flush…..

We hear all the time that losing a great employee will be ok, only a minor hiccup, just a blip on the screen. It isn’t. Here’s what you need to factor in, and there’s probably a whole lot more bullet points you could add to this list. It’s proven that by the time you’re finished, you could actually lose tangible dollars up to about 4 times the departed employee’s annual salary. And that’s just tangibles – what about the intangibles? Those intangible costs aren’t cited here because they’re really difficult to measure – but if you analyze this list, we’re positive you can come up

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with a rough idea of the impact of intangibles to your organization. Don’t want to use $52,000 a year as base salary? Just divide the numbers until you reach your desired amount. Want a clearer copy than you see here? Just email us at info@hr-haven.com and we’ll shoot one your way.

First year cost of losing a $52,000 a year

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employee – $215,413 – surprised?

You should be. Want to know how we got there? Shoot us an email at info@hr-haven.com and we’ll gladly share our worksheet.