Turnover: What’s Causing It & How to Solve It
An estimated 41 million people voluntarily quit their jobs in 2018, up 8% from 2017. That number is predicted to jump to 47 million, or roughly 1 in 3 workers, in 2020*.
No one can afford to lose a third of their workforce, especially when it costs an average $4,129 to replace just one employee (according to SHRM). Which makes accurately tracking the true cost of turnover so important— it may be more or less than you think.
Tracking turnover can help HR and finance leaders understand root causes, estimate the cost-to-hire and plan for the ebb and flow of growth.
Download our latest turnover guide to discover:
- Why employees leave
- The negative effects of turnover
- Best practices to decrease turnover (and how Paycor can help!)
Source: Work Institute