We’ve cultivated a system in which employees who are loyal to their companies are financially punished and those who jump ship every few years are financially rewarded.
The cause? Well, one culprit is certainly antiquated HR tactics that only allows raises as a certain percentage of the employee’s current salary, regardless of external market conditions. Others argue that employers are not eqiupped to rapidly promote, develop, and reward their employees in ways that aren’t simply monetary. But regardless of the reason, what this information exposes is a fundamental lack of understanding about what turnover really costs an organization. Read the full post.
Calculate what turnover costs you: