Fluctuation is a part of a company's life. As long as it's not high, it can even be beneficial to the company to a certain extent. New people bring a breath of fresh air and offer you a different perspective on your work. The more skilled ones will bring innovations that you can benefit from for years.
Up to half of employees in companies are considering changing jobs. To be more precise, the figure is 51 %. This doesn’t have to be a cause for concern if you make quick and effective decisions.
Some studies suggest that the loss of an employee costs a company as much as 33% of that employee’s annual income.
Companies spend a lot of time and money trying to properly replace an employee who has decided to leave the company. Some studies suggest that Losing an employee costs a company up to 33% of that employee's annual income.
Let's take a model example to see what consequences this could have for your company in the Slovak reality.
The average gross labor costs are around €20,000 per year. If we were to base our calculations on a study indicating that the loss of an employee „costs“ a company 33% of that employee’s salary, we would arrive at a figure of €6,700.
That's the amount a company loses when it loses an employee.
If a situation arises where an employee has made a final decision, you need to find their replacement quickly but very carefully. In-house recruitment can take weeks. Good recruitment agency has an overview of applicants in real-time and can offer solutions very quickly.
According to further studies, a new employee reaches optimal productivity after 24 weeks. If they join a larger company (with more than 250 employees) with a more complex structure and processes, this level will be reached a month later.
A high rate of employee turnover, financial losses when they leave, and a six-month onboarding process for new employees can initially seem very pessimistic for a company.
A helping hand from a recruitment agency might be the solution for you. With over 15 years of experience in this field, we can offer the best candidates the market has to offer. We achieve an exceptional success rate of up to 85% in selecting candidates and successfully integrating them into the team.
By partnering with us, you'll quickly find a replacement for your departing employee and save money. How?
By selecting the right candidate, we minimize employee turnover, allowing you to dedicate your efforts, time, and resources to developing your business, instead of lengthy training of a new employee with an uncertain outcome.
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