The Real Cost of High Staff Turnover – And How to Reduce It
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The Real Cost of High Staff Turnover – And How to Reduce It
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How much is staff turnover really costing your business?
For many large organisations, particularly those with large frontline teams, high employee turnover has become an accepted part of doing business. People leave, replacements are recruited and trained, and the cycle starts again.
But when turnover reaches 40%, 50% or even higher, the cost soon adds up – across recruitment, onboarding, training, lost productivity and management time.
In this episode of The Reality of Business, Bob and Jeremy discuss why people leave, why some organisations have come to accept high turnover, and what businesses can do to improve employee retention.
They discuss:
- The biggest reason people leave their jobs
- The hidden cost of continually replacing employees
- Why management, flexibility, and career progression matter
- How training and better induction can improve retention
- Why even a small reduction in staff turnover could save a large organisation millions
If high staff turnover has become something your business simply expects, this episode asks whether it’s time to start doing something about it.
To find out more about our work and to see what we could do to help your organisation, visit www.realitytraining.com.