UK: £42bn a year lost through staff resignations

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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.