JCK Business Report

EMPLOYEE DEPARTURES ARE COSTLY What’s the cost to a company when employees leave, voluntarily or involuntarily? A recent telephone survey of 206 employers conducted by New York-based William M. Mercer Inc. shows that the expense can be considerable – more than $10,000 per position for 45% of respondents. The pie chart at right shows a breakdown of how much companies typically spend to fill an open position. The costs take into account recruiting expenses, which can vary depending on the type of position and local job market; management time used to interview; training costs for new hires; and lost productivity. Most respondents (55%) said turn- over is either a critical or a major issue for senior management. About one-third (36%) said turnover is only a minor issue, and 9% said it’s not an issue at all. More than a third of the respondents represented firms with 1,000 or f

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