State of Artificial Intelligence (AI) in Human Resource Management: A 2023 Report
Employee turnover is a constant problem in companies all over the world. Every company does its best to retain existing talents and at the same time attract new ones. When an employee leaves the organization, it affects the organization in more ways than one. It not only affects the performance of the team which the employee leaves but also affects the organization overall. As a result, whenever a new employee joins the organization, there are costs involved. Interviewing, background checks, selection, onboarding, and training, each step till the time a new employee joins, has cost involved in terms of time and money. A recent study by Gallup shows that the cost of replacing an individual employee can range from one-half to two times their annual salary.
The sudden rise in the number of goodbye lunches could be a great concern to the human resources team. We will help you identify six reasons why your employees leave. Managers and leaders often tend to ignore them as probable causes of employee attrition. But they are often the actual cause behind employees leaving the organization.
Do you have any other reason in mind? Let us know in the comments.
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