
Employee turnover, employee retention, and employee engagement are issues for many companies and organizations. New hires, for example, often quit or resign their positions within just 45 days of their hiring date. This amounts to 22% of new hires, which is sufficient to qualify as a concern.
Recent Data on Employee Retention and Engagement
Recent data indicates that employee retention was a problem for 57% of the participating organizations. Human resources professionals indicated that it was their greatest concern, which was conveyed by 46% of these individuals. The second greatest concern for human resources professionals was employee engagement, which applied to 36% of these participants.
The Financial Costs of Employee Turnover
Every year, companies and other enterprises lose $11 billion due to experiencing a significant number of failed hires. These costs do vary, and depend on multiple factors. The individual costs for each employee turnover tend to