Can you afford to lose good staff?
You’re unhappy for a while before you make the call. You have to give them severance pay. Finding the right person to replace them takes a while. Onboarding takes time and money. How long before new staff are really earning their wages?
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The Cost of Replacing Staff 20% of annual salary for mid-range positions (earning $30,000 to $50,000 a year). For example, the cost to replace a $40k manager would be $8,000. Up to 213% of annual salary for highly educated executive positions. For example, the cost to replace a $100k manager is $213,000.
Do you know how productive – or not – your staff are? How do you measure productivity? What are the blocks to productivity? People are your number one resource and everyone is different. Your manager may be good at their own job but hopeless at developing their team. You like them and don’t want to stop them doing their job but how do you build employee engagement and support growth? Your manager is costing you money because the team needs to become more productive.
Awareness training will go some way towards identifying behaviours that don’t promote growth and identifying strategies for building your team. What will it cost to replace an unhappy worker?
Can you afford to lose staff? Find out how to work with your team and improve productivity. Chat to Elena -> Just open the chat icon on the right.
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