Turnover at the senior level in tax departments can cost millions due to two main reasons. First, there is a higher risk of issues with tax compliance and controversies when employees leave. Second, there are lost opportunities for strategic tax planning initiatives that could increase shareholder value. The document promotes checking a website for more information on optimizing careers and departments, and says part two will address how to prevent expensive turnover and the differences between healthy and unhealthy turnover.

1. T H E C O S T O F
E M P L O Y E E T U R N O V E R :
P A R T 1

2. HOW MUCH DO YOU THINK
TURNOVER, IN GENERAL, COSTS
AT THE SENIOR-LEVEL?
10% of annual salary?
40%?
80%?
100%?

3. 2 1 3 %
O F A N N U A L S A L A R Y

4. D O Y O U T H I N K T H E
C O S T O F T U R N O V E R I S
H I G H E R O R L O W E R I N
T A X ?

5. Y E S . T H E C O S T O F
T U R N O V E R I N T A X
C O U L D B E I N T H E
MILLIONS A T T H E
S E N I O R - L E V E L F O R
T W O R E A S O N S .

6. When there is turnover at the
senior-level, there will likely
be a higher risk in tax
compliance and reporting,
controversy, and audit.
Reason #1

7. There will be a loss of
opportunity cost revolving
around strategic tax planning
initiatives that would have
increased shareholder value.
Reason #2

8. H o w c a n I p r e v e n t t h e e x u b e r a n t
c o s t o f t u r n o v e r ?
I s a l l t u r n o v e r b a d ?
W h a t ' s t h e d i f f e r e n c e b e t w e e n h e a l t h y a n d
u n h e a l t h y t u r n o v e r ?
W E ' L L A N S W E R T H E S E Q U E S T I O N S I N P A R T
2 O F O U R T U R N O V E R S E R I E S N E X T W E E K .
F O R M O R E I N S I G H T S I N T O H O W
T O O P T I M I Z E Y O U R O W N T A X
C A R E E R A N D T H E T A X
D E P A R T M E N T Y O U L E A D , C H E C K
O U T T A X T A L E N T . C O M .