Dr. Thomas Joel Vance
Assistant Professor Of Business, King University In Bristol, Tennessee
The Financial Impact Of Employee Turnover
Fifty-eight percent of organizations claim that they have troubles retaining employees. Estimates for replacing an employee vary from 30% to 200% of an employee’s annual salary depending upon their level with the company. Organizations with high turnover are losing future leaders and innovators. Indirect costs involved in replacing employees include the recruiting, hiring, and training of the departing employees’ replacements.

Dr. Thomas Joel Vance
Assistant Professor Of Business, King University In Bristol, Tennessee
Employee Turnover: A Management Perspective
Previous research has identified numerous variables that may predict employee turnover. Organizations must understand the variables that cause their employees to quit. Selective hiring procedures are important to ensure effective retention and to lower employee turnover. Properly trained managers, with the right experience and background, significantly impact turnover. Organizations that invest in their employees and offer long-term incentives have

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