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It is difficult to find suitable replacements for employees
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It takes time, effort, and money to recruit new employees.
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Loss of an employee adversely affects ongoing projects and services, leading to dissatisfaction among customers and other stakeholders.
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It takes time and effort for new employees to achieve the same levels of expertise and productivity.
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Loss of an employee costs money. Churn rates can be as high as 12-15% annually.
Build programs targeting issues such as...
- Reward and recognition
- Promotion and oportunity to grow
- Participation in decision making
- Work life and balance
- Work envrionment
- Investing in training and development
- Leadership
- Job security
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Saradhi, V. V., & Palshikar, G. K. (2011)
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Hussain, T. & Deery, S. Why do self-initiated expatriates quit their jobs: The role of job embeddedness and shocks in explaining turnover intentions. International Business Review 27, 281–288 (2018).
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Qudrat-Ullah, H. Improving Human Performance in Dynamic Tasks: Applications in Management and Industry. (Springer International Publishing, 2020). doi:10.1007/978-3-030-28166-3