It goes without saying that it costs a great deal of time and money to recruit, hire and train a new employee. And, while it's nearly impossible to pin down the actual cost of turnover, there is universal agreement that whenever an employee walks (or is booted) out the door, it always costs a great deal in terms of time, money, lost opportunities and aggravation. This is why many employers focus on trying to manage employee turnover. Unfortunately, analyzing turnover and trying to control it seldomleads to an improved bottom line. What does work is to reframe the problem so that it is an opportunity. Rather than try to reduce turnover, focus instead on hiring only top-quality people.
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