Getting Strategic with Turnover
September 09, 2014
With the cost of turnover estimated between one-half and two times the annual salary of the leaving employee, taking steps to mitigate turnover as part of the organization’s vision and culture should be at the forefront of every organization’s mindset. This session will take a deep look at the issue of turnover. The session will begin with a discussion regarding why it is so important to minimize turnover, focusing on the incredible expense to an organization and how an organization’s culture can effect change to reduce expenses associated with turnover. Next, we will discuss the most accepted way of calculating turnover rates, while offering benchmarked numbers for comparison. Once an understanding of turnover rates is achieved, the focus will turn to estimating the cost of turnover, with the ultimate objective of being able to estimate the overall cost of turnover to the organization for a specific position, or the organization as a whole to achieve a strategic partnership between HR and other areas of the organization through achieving bottom line driven results.
This program has been pre-approved for 1 General HRCI Webcast credits. The use of this seal is not an endorsement by the HR Certification Institute of the quality of the program. It means that this program has met the HR Certification Institute’s criteria to be pre-approved for recertification credit.