Keeping talented people in today's business world is becoming more and more challenging. Across the globe, turnover rates are worsening while the cost for replacing employees is rising. At Cox Learning Group, we provide turn-key solutions for mid-size to large organizations to help select, develop, and keep their human resources talent.
The costs associated with employee turnover are significant and far-reaching. In fact, recent studies indicate that the average cost to replace an employee is around 1 to 2 years pay and benefit. It is no surprise then that the current annual costs of turnover to the US Economy exceed $5 trillion.
Despite these sobering figures, most businesses continue to ignore the driving forces behind turnover. At Cox Learning Group, we believe the loss of valued employees is avoidable. That's why we offer our clients a systematic approach to determine the key drivers of employee retention, as well as an actionable plan for retaining more top performers.