In the world of business, a high rate of employee turnover can be a significant problem. Economic research suggests that for some industries it can cost up to one-fifth of an employee's annual salary to find, train, and hire a suitable replacement. If turnover rates are too high, this represents a significant sunk cost for the company that can't be recouped. Luckily, by improving the environment at work, practicing smart hiring strategies, and ensuring that your company is optimally-organized, it's possible to keep turnover at a healthy minimum.
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