As we break into summer, a lot is concentrating our minds at GBN.
UK: £42bn a year lost through staff resignations
A new report says that it costs the equivalent of about one year of a resigning employee’s salary to replace them, with the bill for finding new, competent employees in the UK reaching some £42bn a year. This figure includes costs relating to lost skills and productivity plus those associated with finding and training replacements.
The annual resignation rate stands at 10.4% in the UK, compared to 7% in the USA and 5% in France and Germany.