Key Staff Replacement Cost

Key Staff Replacement Cost

Key Staff Replacement Cost is not only about the cost associated with the on-boarding process. Consider the training for the new hire and also the possibility of clients following them to their new employer. These are real concerns for employers and it is necessary to understand the process of staff retention should you want to prevent this, or at least minimise it.

Cost of On-Boarding

On-Boarding cost include the cost to advertise position, making use of your Employment Agency or Consultant and the time involved to prepare the relevant documentation. Then comes the cost of the interviewing process in terms of your time. These cost can escalate very quickly to 1,5 times the annual salary at best.

How often do you need to replace key staff per year?