The Hidden Costs of Hiring: Onboarding Drives Up the Price Tag More Than You Think
Employee turnover costs do not typically appear in budgets. There is no single figure in the balance sheet, profit and loss statement, or cash flow statement to describe the true impact of hiring, nor is there even a standard formula for measuring such costs.
Today, I’d like to explore the components required to produce a more comprehensive measurement of turnover and hiring costs, and then consider how such costs may be reduced.
Hidden Costs: Processes, Systems, Networks, and Lost Knowledge