Nora Mork

A high staff turnover rate can seem like an isolated issue, but failing to implement a proper talent management system is actually an insidious and expensive problem. According to some of the more conservative estimates, it can cost as much as three times an employee’s annual salary to replace staff members when they leave. And unfortunately, this is not a unique situation. Consider the average staff turnover rate within the first 45 days of employment; According to Forbes, up to 20% of employees leave a position before the two-month mark.