Following on rather nicely from my post yesterday on the return of the “war for talent”, is this item on the HR Review website:
https://www.hrreview.co.uk/hr-news/recruitment/it-costs-over-30k-to-replace-a-staff-member/50677
The report suggests that £30k is the cost of replacing a staff member. Yet in many cases that will be a very cautious estimate. For example, what about those employees who don’t pass probation (so that the employer has to start the entire process again)? Then there are those that can command very high agency fees. And the leaving employee may also take many key client contacts as well. These items can add significantly to the overall cost.
So retention, as well as recruitment, is a key component of the HR job role in today’s world. And as I mentioned in my article at the weekend, Employee Benefits can play a key role in this task.
Best regards
Steve
Recent Comments