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How much does employee turnover and recruitment really cost?

The average employee stays in their job for just over 4 ½ years. A so-called ‘millennial’ expects to stay for less than 3.

Finding the best people is hard enough, retaining them is more important than ever.

The total cost to your business of losing a good employee and recruiting a new one is estimated at over £20,000 once you include management time, recruitment fees, induction and training (and the risk of failure).

It is important to understand the motivations of your people – their strengths, future potential and what keeps them engaged in their workplace.

Hold on to your people, they are the most valuable assets you have.

But if you need help, as always at ThreePeople, we keep a close eye on all aspects of the employment market, so please be in touch by email or call us the next time you need to recruit.