In Express Employment Professionals’ Fourth Quarter 2018 Job Insights survey, 79% of businesses surveyed said that it was “somewhat” or “very” difficult for them to fill open positions. That means employers are going to do everything they can to keep great employees like you at the company.
Studies show the total cost of employee turnover can be as high as 150% of an employee’s annual salary.
Assume the average salary in your company is $50,000—that means every time an employee leaves, the cost to replace them could be as high as $75,000! Now, multiply that number by average yearly turnover, and you can see how quickly it adds up. (more…)