Want 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.
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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
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.