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The average logistical cost of
Lost productivity can reach
Only 1 in 3 leaders believe their
Replacing an employee can cost up
UK businesses turnover
More than half of employees don't know how they contribute to company goals
We looked at a range of costs including hiring, onboarding, training, lost productivity, management time and client loss due to staff shortage.
Having lost ten people in two years, we discovered their true cost of attrition was over £700,000 – circa 25% of their annual turnover.
Clearly, this is an enormous sum of money; cash that could have boosted the bottom line, hired additional headcount to grow the business, or been invested in new technology and training to improve productivity. Despite the huge financial implications, the lost opportunity proved to be even more significant.