SoylentNews

"gewg_" writes:

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.