What’s the Cost of Loss?
Countless research studies suggest that the cost of replacing key people runs between 70 percent and 200 percent of their annual salary. Hard costs can include advertising, search firms, interviewing and relocation expenses, and sign-on bonuses. And the softer, harder-to-measure costs can include time spent on interviewing, orienting, and training (and the work put on hold to do it), lost customers (due to their loyalty to the former employees), and declining morale and productivity on the part of remaining coworkers.
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