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6 reasons why good employees leave [Infographic]

Attrition is expensive, and its ultimate costs extend well beyond the balance sheet. Check out our infographic to learn more about the total cost of turnover, why top talent takes off, and how you can retain good workers.

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6 reasons why good employees leave [Infographic]

  1. 1. say they’re not well-compensated The cost of turnover is high. Learn why top talent leaves—and how you can keep them on board. A formula for your annual turnover cost looks like: The total cost of losing an employee can range from 1.5-2X annual salary, according to Josh Bersin of Deloitte. Reasons why good employees jump ship don’t see a clear path to development in their company 6 So why do employees leave? 48% 38% 39% 36% 35% 31% aren’t proud of the work they do don’t find their work personally meaningful say their leadership is not open and honest say their manager doesn’t have their best interests in mind of employees would take a job elsewhere if offered. 51% One of the most effective ways to reduce employee turnover is to increase employee engagement. Here are some steps you can start taking now: Take the next step to keep your top talent from jumping ship. Keep employees on board Learn how Communicate your intent to listen to the needs of your employees Commit to measuring and understanding the employee experience Adopt a holistic employee engagement methodology This translates into a big hit for a business’s bottom line: X $ $ $ $ $ $ Annual cost of turnover Poor customer experience Customer service and errors Training cost Cultural impact Onboarding Hiring a new employee Lost productivity Lost engagement Total cost Number of employees Annual turnover percentage X Hiring Onboarding Development Unfilled time + + + This data was gathered by surveying two national samples comprising 8,003 adults who were employed full-time. The samples were combined and weighted for age, race, sex, education, employment status, and geography to reflect the demographic composition of the United States. ? $