The Labor Department reported a record 4.5 million (3%) of employees voluntarily left their jobs in November as the Great Resignation marches on. Many employees chose to pursue a position that allows for remote work or a different career. The Society of Human Resource Management estimates the cost of losing a salaried employee is 6-9 months’ salary. Other estimates place the cost as high as 2x’s the employee’s salary. Turnover also affects team morale and burdens remaining employees who must carry the extra workload.
Now is the time to invest in your staff to make them feel valued and ultimately promote satisfaction/retention!
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