What is the cost of employee turnover for businesses?
An example of an AI chatbot conversation about the cost of employee turnover.
What is the cost of employee turnover for businesses?
The cost of employee turnover can vary widely, but it typically includes recruitment, training, and lost productivity costs.
Can you break down those costs for me?
Sure! Recruitment costs include advertising, interviewing, and hiring expenses. Training costs cover onboarding and skill development. Lost productivity refers to the time it takes for new hires to reach full efficiency.
How can companies reduce employee turnover?
Companies can reduce turnover by improving workplace culture, offering competitive salaries, providing career development opportunities, and ensuring employee engagement.
What are some signs that an employee might leave?
Signs include decreased productivity, lack of engagement, increased absenteeism, and changes in behavior or attitude.
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