Arkansas Talent
The Arkansas Talent podcast showcases influential business professionals in Arkansas across a variety of industries including; Accounting, Finance, and Human Resources where they share their journey, knowledge, and thought leadership. With our Co-Hosts Chris Chunn & Stephanie Shine, and featured guests, you'll find information related to hiring trends, market updates, job search & career advice, and how to hire, train, and retain top talent in the state of Arkansas. This podcast was created by two experts in the recruitment industry to help both the job seeker and hiring leader find success and thrive in today's job market.
Arkansas Talent
Ep. 28-The Real Cost of Turnover
What is the REAL cost of turnover in organizations? Sadly, what us thinking about this topic was due to the performance of the Arkansas Razorbacks Football Team this year. Chris is a proud alumni and fan, but there was so much talk about what would happen to Sam Pittman, and what would be “the cost” of what it would take to “buy him out” of his contract. And then it randomly got us thinking “I wonder what the “real cost” around organizations was when they have turnover in their organizations locally, not just multi-million-dollar contract coaches. We wanted to learn more ourselves.
In the recruitment industry, naturally, we see turnover happening in organizations and the entire life cycle as well as some of the cost and frustrations to employers. In this episode we have some really interesting statistics and topics to discuss around turnover. Quick fact: “It is estimated that losing an employee can cost a company one half to two times the employee’s salary. Depending on the individual level of seniority, the financial burden fluctuates.” We plan to dive deeper in the real costs, including the intangible costs of turnover.
For more information, staffing, or career advice, get in touch with Chris Chunn and Stephanie Shine via Linkedin.
