“If you estimate that the wage of the average store employee is $18,000 and that the cost of finding, hiring and training each new employee is 1.5 times his salary, then the total cost to the company for the different levels of retention between the two groups is $18,000 x 1.5 x 1,000 = $27,000,000. And that’s just the hard cost. The drain of experienced employees who have developed valuable relationships with their customers and their colleagues is harder to measure but is just as significant a loss.”
―
FIRST, BREAK ALL THE RULES: What the World's Greatest Managers Do Differently
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