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How Much is Developing Your Employees Worth?

Written by GCCA’s Talent Management Service Partner Plus Delta Consulting.

Years ago, the cost of employee turnover was calculated to be 150% of an employee’s annual salary. That included any internal recruitment costs, external search fees, and hiring and on-boarding expenses as well as the simple loss in productivity associated with losing and then replacing a talented worker. While that may have been more accurate for higher-level leaders and professional staff, recent research still suggests that the average cost of replacing a warehouse worker who earns less than $50,000 per year, or more than 40% of Workforce America, amounts to 20% of the person’s annual salary.

So is it worth up to $10,000 per year for you to develop and retain your most talented warehouse workers? What about $300,000 – or more – for your most seasoned senior executives? Click here to learn some far less costly and more effective approaches to training and further developing your staff. Do it now before your top talent jumps ship and starts working for your top competitor!

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About GCCA Service Partners

Global Cold Chain Alliance Service Partners offer an affinity program between GCCA (or any of its Core Partners) and a superior industry vendor. Through this relationship, the vendor is granted an official association platform for building and servicing member clientele in exchange for a revenue share allocated to the association. Learn more.

Plus Delta Consulting delivers the strategic solutions that address GCCA members’ greatest leadership challenges and talent management needs. These services include executive coaching, succession planning, strategic planning, organizational assessment, change management, and talent management.

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