When employees leave an organization, they will have to be replaced and the replacement will need to
Question:
When employees leave an organization, they will have to be replaced and the replacement will need to be hired and trained. Estimates vary, but in order to recruit and get an employee up to speed in terms of training, the average cost is around $5,500. To recruit and train a new nurse sees the training costs rocket to an average of $40,000 and a hi-tech employee can see the costs exceed $100,000. It does go to prove that hiring and training is not only a time consuming task, but an expensive one too. On average it costs 38 percent of someone’s salary to replace them. How could training opportunities avoid the need to replace employees?.
Step by Step Answer:
Managing Human Resources
ISBN: 9781292097152
8th Global Edition
Authors: Luis R Gomez Mejia, David B Balkin, Robert L Cardy