You are an HR analyst for XYZ Corporation, and you have been tasked with the assignment of helping a company through a period of organizational change. Your client, Thoreau Enterprises, recently acquired several other companies in its industry. The organization has gone from being a $1 billion entity to a $15 billion entity as a result of these acquisitions. Though Thoreau Enterprises purchased the others, it was actually the smallest entity of the entire grouping. After meeting with Thoreau Enterprises company leadership, your Director, Jacob Wickham, has compiled notes on three main areas that need to be addressed: talent management needs, compensation, and the role of HR to lead change for the new organization. Following is a list of specific concerns that Jacob noted during the initial meeting:

• There are a number of legacy employees whose roles in the new organization have changed drastically as a result of the acquisitions. Many employees are unclear whether their jobs are going to be considered redundant or if they are safe in the new organizational structure. Rumors are spreading that everyones jobs are up for grabs, employees will have to re-interview to keep their jobs, and the severance packages for anyone laid off may not be as great as people are hoping for. Morale is low in this period of uncertainty.
• HR leaders are aware of the need to hire to fill certain functions, and it has come to light that job descriptions do not exist for all levels in the organization.
• In the past, employees were typically hired because they were referred by existing staff. Therefore, contemporary recruiting and hiring methods have not been utilized at Thoreau Enterprises.
• Compensation strategies need to be aligned across the new organization.
• With the merger of so many companies, no cohesive corporate culture has been established, and there are major employee morale issues, as stated above. In fact, the leaders of the new Thoreau Enterprises are unsure of what their company culture should be and need guidance for how HR can help them to establish this and lead them through this period of uncertainty and change.

What particular costs associated with employee turnover should Thoreau Enterprises leadership consider when making decisions related to retention? Be sure to include financial and nonfinancial costs to the organization in your response.