THE HIDDEN COST OF STAFF TURNOVER

Spring is a great time to refresh, take stock and assess your options, and it’s no coincidence that it is also the best time of year to start looking for a new job. The high cost of recruiting a new member of staff can be a major issue for businesses of all sizes, but particularly for SMEs, the loss of a team member (or members) can distract colleagues, disrupt plans and damage morale.

We conducted research to investigate the effects of staff turnover on SMEs. Our Loyalty Premium research revealed the key reasons employees choose to leave and the hidden cost to productivity this causes.

The infographic below highlights the key findings from this research, including the surprising discovery that senior management are the most likely to lose productivity when a decision is made to leave their company.