• MTK@lemmy.world
    12·
    5 hours ago

    Add to that the fact that hiring and training a new employee usually costs between 5-10 times more than retaining an employee (from hire to fully trained)

    • shalafi@lemmy.worldEnglish
      2·
      2 hours ago

      Not just hiring and training! You also have to start paying state unemployment tax on that new hire. In Florida the first $7,000 is taxed on each new employee. Then there’s loss of efficiency, and related items. On top of that, if your turnover is high, your payroll company will up your rates because they’re working harder and you’re a PITA employer. I’ve sat meetings where we decided exactly that.