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:
We simply don't have the budget to properly train everyone on our staff.
We 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?
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.
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