Prevent expensive turnover by avoiding these common management blunders. According to the U.S. Department of Labor and Statistics, turnover can cost an organization 33% of an employee's total compensation, including both salary and benefits. The impact is not only financial; it also affects employee morale. And, bad morale results in a domino effect that negatively impacts productivity. Obviously, it's prudent for managers to reduce turnover rates. However, one must first understand the main reasons good employees quit.
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