Employee Turnover: What’s Changing & How to Solve It
Employee Turnover: What’s Changing & How to Solve It

Employee Turnover: What’s Changing & How to Solve It

Why do 46% of business leaders say turnover is their number one problem? Because it’s not a simple inconvenience, it’s a problem that if gone unresolved can seriously impact your bottom line.

Here’s what’s at stake:

Money

  • When entry-level employees leave, it costs 30-50% of their annual salary to replace them.
  • When mid-level employees leave, it costs upwards of 150% of their annual salary to replace them.
  • When high-level employees leave, it costs 400% of their annual salary to replace them.

Time

Unusually high turnover can be a significant time suck. Exit interviews, advertising the job, recruiting candidates, interviewing and onboarding and training replacements…it all adds up.

Productivity

High turnover not only leads to additional recruiting and training expenses but also shows up as lower productivity for other associates who are picking up the slack during the gap of hiring a replacement and getting him or her up to speed.

In this guide you’ll learn:

  • The true causes of employee turnover
  • Retention strategies
  • How to solve the turnover problem with metrics and insights

Start reducing turnover in your organization today and download the guide.

Replacing Employees Is Expensive

Fight turnover by downloading this guide.

More to Discover

Case Study: Baptist Bible College

Case Study: Baptist Bible College

In need of more robust HR & payroll technology to handle their complex needs, Baptist Bible college discovered an expert partner in Paycor. “In our industry, keeping up with payroll, taxes and compliance is very challenging. But Paycor’s specialized higher education team gives me the peace of mind we’re covered. From proactive compliance alerts and user groups to a dedicated industry contact, Paycor is a partner I trust to helps us eliminate risk." - Jason Todd, Vice President, Finance Why Baptist Bible College left their previous HR & payroll provider Founded in 1950 in Springfield Missouri, Baptist Bible College is a private Christian college that specializes in ministry and professional studies degrees. Like many small...

Webinar: How Paycor Time can Solve your Attendance Management Challenges - (Paycor Customers Only) 3/18/20 @2pm ET

Webinar: How Paycor Time can Solve your Attendance Management Challenges - (Paycor Customers Only) 3/18/20 @2pm ET

For Paycor Customers OnlyTo meet the unique needs of our customers, our products are in a constant state of evolution. And one of our latest product enhancements is around Paycor Time. Register for this upcoming webinar to learn about new features and functionalities of: • Points & Incidents • Attendance • And more! Speaker: Lyle WeissingerWednesday, March 18, 2020 2pm ET

Mental Health in the Workplace: 5 Ways Employers Can Make a Difference

Mental Health in the Workplace: 5 Ways Employers Can Make a Difference

The effect of mental health on workers—and the workplace—is staggering. Just consider the statistics: 1 in 5 US adults experience mental illness each year (National Alliance on Mental Illness) Up to 80% will manage a diagnosable mental health condition during their lifetime (National Institutes of Health) In fact, 60% of American workers experienced at least one symptom of a mental health condition in the past year (Mind Share Partners) However, only 43.3% of US adults with mental illness actually receive treatment (National Alliance on Mental Illness) The results are stark: 200 million work days are lost per year (Centers for Disease Control and Prevention), while the World Health Organization estimate the cost to the global economy at...

Webinar: Goodbye Reports. Hello Insights. Meet Paycor Analytics

Webinar: Goodbye Reports. Hello Insights. Meet Paycor Analytics

At Paycor, our goal is to empower HR Leaders with the latest technology advances, so they can focus on what really matters, their people. With Paycor Analytics, say goodbye to messy spreadsheets, time consuming data analysis or making assumptions without the data to back it up. Give us 30 minutes of your time and we’ll show how Paycor Analytics will change the way you answer important questions about your workforce.Speaker: Kelly Silverman and Kyle Baker