Sama eBook: Navigate the hidden costs of layoffs
It’s easy to focus on individual leavers, but have you considered the wider business impact of people leaving?From loss of productivity to low employee engagement, you already know employee turnover is costing you money.
Most vacancies are covered by colleagues - it takes up around 30% of their time, reducing efficacy in their own roles.
Even when you find and hire the perfect candidate quickly, there’s a ton of admin for hiring managers, HR managers, and recruiters. From CV vetting to interviews, and recruiter calls to background checks, it all adds up. Add in training and L&D costs and suddenly your new hire costs far more than just their salary and benefits.
Nobody is truly ready to ‘hit the ground running’ - everybody needs some time to ramp to full capacity. In fact, the average time to productivity is 6 - 12 months! That’s a costly productivity lag for even the best candidates.