Did you know, replacing a single employee can cost you between 0.5 to 2 times₁ the employee’s yearly salary? That means a $45,000 salaried employee could cost anywhere from $22,500 to $90,000 to replace. Yikes.
So where does this money go? Why does it cost so much to replace an employee?
Here’s the problem: You invest a considerable amount of time, money and energy into training a new employee. And let’s say you even worked with an orthodontic consultant to get your employee professionally trained—then the employee decides to leave.
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