Wow! This article’s headline is truly mind blowing. "One-third of UK employees expect to leave their job in the next two years." That seems like a major talent challenge...or nightmare. This is going to prevent innovation and consistency, and will cost companies a lot of resources.

According to an article on ERE, the impact of turnover depends on the career level of the employee.

  • For entry-level employees, it costs between 30-50 percent of their annual salary to replace them.
  • For mid-level employees, it costs upwards of 150 percent of their annual salary to replace them.
  • For high-level or highly specialized employees, you’re looking at 400 percent of their annual salary.

With that in mind, you can be certain that companies are looking for strategies to:

  • Improve their abilities to find and connect with top talent, which includes creating intriguing cultures that differentiate themselves from competitors.
  • Improve the recruitment experience to make it more enjoyable and candidate friendly.
  • Expand their talent pool and geographical reach for top talent.
  • Enhance the employee on-boarding experience, including their relocation program.
  • Improve employee engagement and retention.