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The other day, we discussed a company that sees its workers as assets to be cherished and nurtured. Sadly, there are a lot of companies that see their employees as "human resources" to be used up and cast off. Maybe those enterprises need a better means to evaluate the wisdom of that tack.
Common Dreams reports
Employee turnover costs businesses millions of dollars each year. However, many employers don't accurately track this expense, which could be reduced by improving workplace conditions. To help business owners understand the cost of turnover, the Center for Law and Social Policy (CLASP) and Center for Economic and Policy Research (CEPR) have released an updated turnover calculator.[1] This dynamic tool allows employers to calculate turnover costs by responding to 10 simple questions.
When employees leave or are laid off, companies incur numerous expenses searching for and on-boarding their replacements; these include advertising, recruiting, background checks, benefits administration, training, and lost productivity while new employees become proficient at their jobs. Taken together, these costs can have serious implications for bottom lines. The turnover calculator allows businesses to input wages; weekly hours; and recruiting, hiring, and training costs to determine the financial impact for different categories of workers.
[1] The link(s) in the article redirect. I have provided a direct link in the summary.
(Score: 3, Insightful) by Anonymous Coward on Tuesday May 19 2015, @09:42AM
Perhaps your problem is that you expected them to work for "green as grass" pay after you trained them?
That was close to happening at a company I used to work for. Everybody was promised training that would allow them to work as SAP consultants, and they would get a 3% raise when the training was completed.Or they could get 3 TIMES as much by quitting and getting jobs as actual SAP consultants (SAP consultants are expensive as f*ck).
Management tried to prevent this by having the training accompanied by a no quitting for two years contract. When somebody went and told them that such a contract was actually illegal, the training was scrapped, and SAP consultants were hired in.