In a world where workers are conditioned to continually look for the next best opportunity, it’s almost inevitable for businesses to lose their employees. But when was the last time you considered the potential financial damage the loss of employees is having on your business?
While many employers know employee turnover can have a significant affect on their business, many don’t know losing one mid-level employee can cost an employer roughly 150 percent of their salary. Now multiply that for every mid-level employee you’ve lost in a year — scary, right?
It is so important for employers, especially those with small businesses, to pay attention to the needs of their employees. There are many reasons your workers could be quitting — maybe it’s the long hours, extreme workload, lack of advancement, or even out of boredom. With three out of 10 employees planning to seek employment elsewhere, you owe it to your business to create a better work environment for your employees.
This infographic created by Bolt Insurance presents valuable information regarding why employees quit their jobs, and the cost it has on the businesses they’re leaving. This insight will allow you to generate a work environment that benefits your employees and helps to retain your workers.