Question of the Week
How do you quantify what employee turnover costs your team in lost time, lost knowledge and retraining?
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February 28th, 2008 at 7:03 am
When addressing this problem, it is essential to separate the costs of lost time, hiring, and retraining from the costs of actually losing a departing employees capabilities. The latter costs are often far worse.
For help in quantifying the real costs of turnover, you will find resources at my website http://www.LostKnowledge.com. I have been studying the costs of lost knowledge and building the business case for a decade now. The issues are addressed at length in my book: “Lost Knowledge: Confronting the Threat of an Aging Workforce.”
February 28th, 2008 at 7:14 am
David,
Thanks for chiming in and letting us know what you’re up to! I’m excited about your research and look forward to checking it out.
I promise not to hit any of my clients over the head with your book, though I must admit I’m tempted.
Stay in touch!