According to the Study findings, employers, on average, believe 14% of their workforce
will leave within the next year, whereas nearly 40% of workers plan to leave their current jobs in the next year.
Today, the cost to replace an employee has reached $59,692 based on the standard industry formula of 1.5 times the average annual salary ($39,795 according to Salary.com). These staggering statistics prove that employers can't afford to have misconceptions about potential turnover at their organizations. Take, for example, a company with 1,000 employees. Even if only half of the 40% of workers predicted to leave actually follow through, this organization faces nearly $12 million in turnover costs.
Discover what your estimated turnover costs could be in the coming year.
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