with that many people ready to leave their organizations, the costs related to employee turnover start adding up quickly. most commonly, those issues that cause people to leave are a lack of quality onboarding, discontent with managers, and a lack of ongoing development or advancement opportunities. insufficient training during onboarding indicates to employees that they can expect development opportunities to be lacking down the road – 40 percent of people who don’t experience a quality onboarding process are likely to leave the company within a year. companies that want to reduce employee turnover but aren’t focused on how well they’re developing their people are missing the biggest factor in retaining talent. for salaries over $75,000, that percentage starts increasing – up to 213% for highly skilled executives!
this calculator defaults to using a 20% cost of turnover per salary. let’s move on to the exciting part – seeing how much you can reduce turnover by offering the training and development your talented people are looking for. on-demand training solutions are particularly effective, since they provide the self-directed approach to learning that high-performing employees seek out. are you ready to see how implementing on-demand learning solutions can crush the cost of high turnover in your organization? to view the entire video lesson and thousands more like them, request a demo today!
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