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Costs of Employee Turnover

Loosing your valuable employees costs money and hurts your bottom line.  Typical costs include:

• employment advertising
• interviewing and human resources expenses
• lost time and productivity
• training costs

Employee Turnover Cost Calculator How much does you employee turnover cost? Find out using this tool from the UW Extension Center for Community Economic Development.

The Internet has many articles and studies documenting the cost of turnover to business.  Here are several examples.

• Cost of Employee Turnover from the web site Small Business Advisor
• TURNOVER The Silent—but substantial—profit killer from the EMPLOYERS’ RETENTION TOOLKIT on the Northern Virginia Community College web site.
• Turnover Down and Productivity Up: A Case Study on the American Society of Employers web page.

For additional advice, information and tools on this topic see Other Retention Resources.