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Atricle Dump - The Real Cost of Turnover
We all take time to celebrate when we finally find a good position. But that can take weeks, or months, even a year or two in the highly competitive labor market we now face. That can mean a very long period of stress, uncertainty, and financial pressure.Take care of yourself by making sure that you stop to celebrate any small successes you enjoy along the way. Ob
You can see that the list goes on - it's impossible
Standardize your processes! You can save time, money and prevent errors. Things you do over and over should be done the same way every time, if indeed you do the task the best way. They say variety is the spice of life, but for healthcare processes it certainly isn’t most of the time. Consider this, if you would. Would you buy your favorite brand of soda if
3 months unfinished work
$40000
Recruiter fees
$24000
30 hours of your time
$1800
60 hours of interview time
$3600
3 months of startup @ 50% productivity
$20000
3 months mentoring by team @ 25%
$20000
Total Direct Costs
$109400
That's a lot of money out of the company's bottom line: almost enough to hire another programmer. Now consider some of the indirect costs:
- Loss of project memory
- Increased stress on project to pick up the extra work
- Increased likelihood of new errors in the product
- Loss of morale in the project
- Danger of missing project deadlines or product release date
You can see that the list goes on - it's impossible
Can you imagine today, on the 7-th year of the 3-rd millennium how your life would be without a computer on your desk? Have you ever wondered how you would have made your job without Word, Excel, Power Point and the blessed e-mail? Or, while in holiday, have you asked yourself if you would have been there if Google hadn't helped you to promote your business? I'm sure you
3 months unfinished work
$40000
Recruiter fees
$24000
30 hours of your time
$1800
60 hours of interview time
$3600
3 months of startup @ 50% productivity
$20000
3 months mentoring by team @ 25%
$20000
Total Direct Costs
$109400
That's a lot of money out of the company's bottom line: almost enough to hire another programmer. Now consider some of the indirect costs:
- Loss of project memory
- Increased stress on project to pick up the extra work
- Increased likelihood of new errors in the product
- Loss of morale in the project
- Danger of missing project deadlines or product release date
You can see that the list goes on - it's impossible
Many business owners don’t like to part with their money and with good reason. The constant barrage of vendors who want a piece of your cash pie can cause you to cling tightly to the purse strings. But have you ever considered that you could be missing opportunities to invest in your businesses and turn some of that valuable cash into even more cash?It’s called Re
$1800
60 hours of interview time
$3600
3 months of startup @ 50% productivity
$20000
3 months mentoring by team @ 25%
$20000
Total Direct Costs
$109400
That's a lot of money out of the company's bottom line: almost enough to hire another programmer. Now consider some of the indirect costs:
- Loss of project memory
- Increased stress on project to pick up the extra work
- Increased likelihood of new errors in the product
- Loss of morale in the project
- Danger of missing project deadlines or product release date
You can see that the list goes on - it's impossible
If you run a small business and you have a community following of sorts you have to be careful not to dilute your message by over marketing peripheral services. Yet at the same time if your existing customers desire a similar service, which you can offer and make a good profit at well then you might be considered a fool for not offering it right? Assuming of course you h
- Loss of project memory
- Increased stress on project to pick up the extra work
- Increased likelihood of new errors in the product
- Loss of morale in the project
- Danger of missing project deadlines or product release date
You can see that the list goes on - it's impossible
When the time comes to progress within the work world, you sometimes have to make the first move by submitting a letter of resignation. For some, completing this task is better said than done. The awkwardness of telling an employer you no longer wish to work for their company can become an overwhelming task to complete. It sometimes causes strained relationships and may
You can see that the list goes on - it's impossible to quantify these intangible costs, but if you could assign a dollar value, the worst case might be three times the engineer's salary or higher. Here's the most important thing to remember:
Losing a senior engineer is really, really costly so it's worth investing significant resources to keep your senior staff happy and engaged, so they don't start looking outside the company for their career path.So why don't managers and executives spend more time and energy in preventing turnover in their senior staff? Partly, they consider employee satisfaction to be the role of the Human Resources department, not their own. Also, the costs are largely hidden - the cost of recruiting and interviewing is part of the HR budget, and the cost of lost productivity don't show up on any one's balance sheet, so it's easy to pretend that the loss of an engineer is a schedule inconvenience, but doesn't cost real money.
And keeping you
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