When productive contractor leave your company they hurt the business. Employee turnover comes with a price tag attached. It’s every manager’s nightmare: One of your best contractor quits out of the blue. Right away, you’ve got a whole new set of challenges to tackle on top of your daily responsibilities. It is difficult to quantify all the “soft costs” of hiring and training a new employee, as they can have a significant impact on a business’ bottom line.
Not only do you have to find a replacement for such a talented team member — no small feat at a time when skilled professionals are in high demand — but you also have to consider the impact this departure will have on the rest of your staff.
The employees of a company are crucial to its success. We can’t stop it – we can certainly minimize it by employing and adopting best practices.