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The Achiever Newsletter  

Cost of an
Employee Turnover

(Page 1)

(Please note:  This article begins here.)

In the spirit of continuous and never-ending education, it is more important than ever that we all know exactly what it costs an organization to recruit, interview, select, train and then, sadly lose an employee. Regardless of the reasons for employees leaving, the ever-growing cost of the above-mentioned process is devastating to many organizations today.

Once this enormous cost is recognized, we suddenly begin to question such familiar statements as:

bulletWe simply don't have the budget to properly train everyone on our staff.
bulletWe can't afford the time it takes to send anyone to training.

Once we have determined the true cost in dollars, time, resources, morale, member satisfaction, etc., it is crucial that we ask an even more important question:

Can we afford not to invest the time and dollars it takes to provide the proper training for each and every employee in the organization?

Let's take a closer look.

Your Time

Action

My Estimated
Time

Average CU
Time

Advertising

____________

____________

Reading applications

____________

____________

Scheduling interviews

____________

____________

Interviewing applicants

____________

____________

Hiring

____________

____________

Orienting and training

____________

____________

Other

____________

____________

 

____________

____________

____________

____________

Total Time

____________

____________

x Hourly Comp. & Benefits

$___________

$___________

Cost

$___________

$___________

Page 2

This Cost of an Employee Turnover grid is formatted for financial institutions but can be customized for any industry.  Please contact us for a customized version for the unique factors of your industry/organization.

For more information, call us at 800-886-2MAX or view our Becoming a Choice Employer: Attracting & Retaining World-Class Employee Talent seminar description.

 

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Motivational speaker Harry K. Jones has appeared all over North America addressing subjects ranging from stress management and thinking "out of the box" to the leadership skills and strategies required to succeed in today's competitive marketplace.

Motivational speaker Jeffrey W. Drake, Ph.D., has made many presentations on subjects ranging from communication styles and leadership styles to empowered teams and sales psychology.

Motivational speaker Kathleen J. Wheelihan has made presentations ranging from creative innovation to customer satisfaction strategies and leadership skills to teambuilding.

Melanie L. Drake focuses on the publishing and marketing sides of the AchieveMax® company.

 

For more information on our seminars and keynote presentations,
please write to or call 800-886-2MAX.
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