A family-friendly focus.
The cost of attracting and retaining qualified workers is difficult to quantify, but many human resource professionals adhere to the "factor of four" multiplier when considering turnover costs. For example, replacing a departing employee with an annual salary of $25,000 eventually will cost the company $100,000. This includes an employee's knowledge of the company, efficiency, and rapport and contacts established on the job. None of these can be replaced easily or inexpensively.
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Plante & Moran, LLP, Southfield, MI, USA.
D003365:Costs and Cost Analysis; D017407:Family Leave; D006801:Humans; D015279:Organizational Culture; D016134:Organizational Policy; D010558:Personnel Loyalty; D010560:Personnel Selection; D010563:Personnel Turnover / Q000191:economics; D012456:Salaries and Fringe Benefits; D014481:United States; D014940:Work Schedule Tolerance / Q000523:psychology