The past few years have been a whirlwind for businesses everywhere. The pandemic forced many companies to close their doors, while others saw their employees leave in record numbers. For some, it was a chance to reflect on their careers and seek opportunities that aligned better with their passions, values, or well-being. Whatever the reason, employee turnover has become a pressing challenge for businesses — especially small businesses, where the loss of even one team member can have a profound impact. If you’re a small business owner, you’ve probably felt this pain. But what if I told you that preventing an employee from leaving could save you up to twice their annual salary? Yes, you read that right. Keeping a valued employee isn’t just about avoiding the hassle of finding a replacement — it’s a smart financial decision that directly impacts your bottom line. Why Turnover Costs So Much Let’s break it down with a real-world scenario: Sally is your IT director, earning $100,000 a...
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