Most
company CEOs agree that their biggest single business expense is the
cost of human resources. By implementing Equal Opportunity initiatives
businesses can save enormously by dramatically reducing turnover costs.
Research
undertaken by the Council for Equal Opportunity in Employment (CEOE),
for example, reveals that labour turnover costs can range from between 50 and
130 percent of an incumbent's salary. These costs are affected by the level of
skill and experience required to perform a job and rise exponentially the
greater the employee's influence on company decisions. Any reduction in these
costs can make a major contribution to a business's profitability.
|
|
"It's not just a social or
ethical issue - it's a business issue. When you start losing qualified and
experienced women it costs the company money ...not many Australian managers do
their sums and many do not even know the rate of their staff turnover ... .as the
improving labour market made it harder for corporations to find staff, managers
would have to rethink the way they treat women."-
1 Sydney Morning Herald, 8 March, 1995
Do you know the rate of staff turnover in your company?
Calculating
the cost to your Company
Hourly Rates
|
