Onboarding and retention

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Onboarding and retention

According to the Society for Human Resource Management, direct replacement costs of an employee are as high as 50-60% of that employee’s annual salary. Those are the costs associated with recruiting, hiring and training a new employee. However, the total cost of turnover can equal 90-200% of that annual salary when accounting for measurable costs like accrued paid time off and overtime coverage for other employees, as well as costs that are hard…