What is the true cost of staff turnover?
Depending on a variety of factors – including skill level, education and experience – the total cost of turnover can be as high as 150% of an employee’s annual salary.
Assume the average salary in your company is R150 000 per annum – that means every time an employee leaves, the cost to replace them could be as high as R225 000.
Now, multiply that number by your average yearly turnover, and you can see how quickly it adds up.
So, where is all that money going? To truly gauge the impact of employee turnover, you have to consider the cost of:
- Advertising open positions
- Time spent interviewing
- Time spent on reference checks
- Training and development
- Lost knowledge from exiting employee
- Overworked core staff due to turnover
- Impact on company culture
Express Employment Professionals is in the business of helping employers shoulder the burden of maintaining an efficient, productive, and skilled workforce. The true value of staffing companies and the services we provide go far beyond simply hiring a temporary employee. We give you a chance to place an employee without the risk of absorbing the costs that come with turnover.
At Express Employment Professionals we specialise in recruiting, interviewing, evaluating, and hiring top talent through our ISO-certified recruitment processes, with your specific business needs in mind.