How much does employee turnover really cost?
1–10 of 353 posts
Re: How much does employee turnover really cost?
#2Not a very informative article. The costs are high, so try to minimize turnover. It's simple.
Re: How much does employee turnover really cost?
#3Not a very informative article. The costs are high, so try to minimize turnover. It's simple.
I think you missed the forest for the trees - the author clearly states that a quantitative approach to understanding turnover is needed and that everyone knows "The costs are high, so try to minimize turnover. It's simple." but it's hard to take action on a qualitative indicator. He then presents what appears to be a reasonable equation to estimate how much turnover costs a company.
Re: How much does employee turnover really cost?
#4Not a very informative article. The costs are high, so try to minimize turnover. It's simple.
I don't think many orgs actually quantify the cost which is the point the article is trying to make. Figure out what it costs _you_.
Re: How much does employee turnover really cost?
#5Not a very informative article. The costs are high, so try to minimize turnover. It's simple.
I think you missed the forest for the trees - the author clearly states that a quantitative approach to understanding turnover is needed and that everyone knows "The costs are high, so try to minimize turnover. It's simple." but it's hard to take action on a qualitative indicator. He then presents what appears to be a reasonable equation to estimate how much turnover costs a company.
The "quantitative approach" here is hardly worth considering. Maybe I should write for Medium. I could just as easily throw a bunch of crap together and call it journalism and provide some random numbers and factors and call that an equation!
Re: How much does employee turnover really cost?
#6Not a very informative article. The costs are high, so try to minimize turnover. It's simple.
I don't think many orgs actually quantify the cost which is the point the article is trying to make. Figure out what it costs _you_.
Yeah everybody knows that, so what was the point of the article?
Re: How much does employee turnover really cost?
#7Earlier quoted context omitted.
I think you missed the forest for the trees - the author clearly states that a quantitative approach to understanding turnover is needed and that everyone knows "The costs are high, so try to minimize turnover. It's simple." but it's hard to take action on a qualitative indicator. He then presents what appears to be a reasonable equation to estimate how much turnover costs a company.
The "quantitative approach" here is hardly worth considering. Maybe I should write for Medium. I could just as easily throw a bunch of crap together and call it journalism and provide some random numbers and factors and call that an equation!
> Maybe I should write for Medium
Considering this is a medium opinion piece, which are essentially blogs, you very well could.
Re: How much does employee turnover really cost?
#8Earlier quoted context omitted.
I think you missed the forest for the trees - the author clearly states that a quantitative approach to understanding turnover is needed and that everyone knows "The costs are high, so try to minimize turnover. It's simple." but it's hard to take action on a qualitative indicator. He then presents what appears to be a reasonable equation to estimate how much turnover costs a company.
The "quantitative approach" here is hardly worth considering. Maybe I should write for Medium. I could just as easily throw a bunch of crap together and call it journalism and provide some random numbers and factors and call that an equation!
I wouldn't consider Medium "journalism." I've written an article or two on the platform, but I don't recall anybody doing any fact-checking or editing on my work.
Medium is just a place where people go to say stuff, and should be valued accordingly.
Re: How much does employee turnover really cost?
#9Not hard to see the obvious.
Look at Costco compared with Sam's Club. You can see the difference since Costco employees tend to stay longer there.
Re: How much does employee turnover really cost?
#10While yes, it's important to quantify, I'm not sure the article is that actionable for most startups, or even businesses that don't have large HR departments. Most software development managers I know would just pull estimated values out of their ass, instead of actually creating a formal model for tracking things like "cost of onboarding and training".
It sure would be nice to have some case studies, perhaps? Has anyone worked at a place that tried to calculate required onboarding costs for high-skill, salaried positions? I've only ever seen places just create random budgets for online programs like Linda.com, but these programs never seemed relevant to the positions that, well, were the most significant to the company, to put it nicely.
I just suspect unless you had a quant in an HR department, this sort of thing just will never get calculated correctly.