Employee turnover costs can be significant for any company, but do you know what costs even more?
Apathy.
When workers are demotivated, they’ll fall back on doing the absolute bare minimum. They may be mostly doing their job, but they likely aren’t doing it well and they don’t really care anymore. That kind of disengagement has an insidious long-term effect that goes beyond the individual employee. It eats away overall productivity for the entire team or company.