A study done by Kronos Incorporated, shows that 87% of Human Resources Leaders are highly concerned over employee retention. For good reason too, since the cost to replace one of your employees is estimated to cost employers anywhere from 33% to 200% of that employee’s annual salary. So losing one employee can actually be the same cost as 2 happy, productive employees.
People will likely be the most unpredictable factor in your business. You can pick all the right people, provide a great atmosphere and still have struggles among people in the workplace. It can be frustrating when you know you have carefully picked a team with complimentary skills that should fit well together, but there is still friction.