Retain Employees

Retaining Top Talent for Your Organization

$1 Trillion. According to a recent Gallup article, U.S. businesses are losing a trillion dollars a year due to voluntary employee turnover. The March 2019 Job Openings and Labor Turnover Report from the Bureau of Labor and Statistics reported the total number of separations in 2018 was 66.1 million. 61% (40.1 million) of those separations were quits/voluntary turnover. On the conservative side, the estimated cost of replacing an individual employee can range from one-half to two times the employee’s annual salary. For example, 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! Aside from the cost of training a new employee, losing strong employees can reduce workplace morale, break key customer relationships, and even affect your brand if it was the result of a tumultuous relationship.

Help Wanted

Is Now the Time to Hire Additional Staff?

As a business owner, one of your most important tasks is workforce management. It’s your job to make sure you have the right people–and the right number of people–to keep your company running smoothly. But how do you know when the time is right to hire additional staff? It may be time to consider hiring more team members if your business meets one or more of the following conditions:

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