The Cost of Losing Employees

Summary

Losing an employee is hard on any business and can impact your profit margins. The process that comes after losing an employee is time consuming and costly. With The GOALL Agency, we can help your business improve employee retention, and increase profit margins.

Transcript

Losing an employee is hard on any business because it does impact your profit margins if it’s a key employee. I mean they could leave with a lot of your information but let’s just use an example here of just a regular employee.

Thirty thousand dollars. You lose them. Now you have to advertise, interview, and then take the next three to six months using your time or your other employees time to get them going. Well just so you know, it’s going to cost you about fifteen thousand dollars if you run a 20 profit margin, that means you have to sell seventy five thousand dollars worth of your services to make up for that 15. So now imagine losing five employees. That’s now seventy five thousand dollars worth of costs and now you have to sell three hundred seventy five thousand dollars worth of your services based at a 20 profit margin. And here’s where it really gets scary, if you only have a 10 profit margin, the numbers I just gave you double.

The Cost of Losing Employees

Summary

Transcript

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