This Fixable Problem Costs U.S. Businesses $1 Trillion

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BY SHANE MCFEELY AND BEN WIGERT
From Gallup

Here's how it breaks down for an individual organization:
*The annual overall turnover rate in the U.S. in 2017 was 26.3%, based on the Bureau of Labor Statistics.
*The cost of replacing an individual employee can range from one-half to two times the employee's annual salary -- and that's a conservative estimate.
*So, a 100-person organization that provides an average salary of $50,000 could have turnover and replacement costs of approximately $660,000 to $2.6 million per year.

Fifty-two percent of voluntarily exiting employees say their manager or organization could have done something to prevent them from leaving their job.

You may assume their manager did everything they could to make things right, but statistically, that's probably not the case. Over half of exiting employees (51%) say that in the three months before they left, neither their manager nor any other leader spoke with them about their job satisfaction or future with the organization.

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