Employee turnover rates have increased by 9 percent since 2019, and are predicted to pass 40 percent this year (2023).
Finding and hiring a new employee takes 40 days on average, with estimates of the cost to a business of replacing a team member of in the region of 25 percent of the employee’s annual salary.
Keeping hold of the best-performing people has become a major concern for employers, with recruitment and retention across the board frequently reported as one of the biggest challenges they face.
Employee engagement and benefits, and outsourced payroll solution provider HIVE360, shares insights and advice from across the industry to help companies create the ultimate employee experience by ensuring employees and new recruits are happy, healthy and productive at work, to maximise talent retention at this difficult time.
