I was reading an article recently regarding the effect of high employee turnover on a company – including loss of productivity, quality, and profitability. Did you know that it can cost a third (or more) of an entry level employee’s annual salary to hire and train a new employee, and even more to replace a mid-level employee? Not to mention the (unseen) costs that can occur in terms of quality of service or goods produced, customer satisfaction, and so much more that may occur when a company has high, frequent turnover in staff.
I am really proud that we have such low turnover – I just figured out that the average amount of time that our current employees have been here is nearly five years! How many companies can say that nowadays, with people moving from job to job?
I think that employee longevity has been one of the keys to the success and continued growth of Sew What? Our employees have been here for awhile, they know their jobs, and that shows in the quality of our products and our service.