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The Center for Sales Strategy Blog

The High Cost of Turnover [Infographic]

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Turnover is a costly problem for sales organizations. On average, companies experience a 17.8% turnover each year, and the average cost to replace an employee is 1.5 - double the employee's annual salary. (And it's even higher for high-level employees like managers and those with specialized skills.)

Take a look at the high cost of turnover in the infographic below. What you find may surprise you!

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5 Steps to Reduce Turnover

There are things you can do to reduce employee turnover. 

    1. Fill your talent bank— You can't hire great people unless you have great candidates ready!
    2. Interview the right way — Use a validated talent assessment to predict success based on innate strengths.
    3. Focus on strengths — By focusing on strengths, you can see a 10-fold improvement in production.
    4. Build up, don't tear down — Build up your staff through positive reinforcement.
    5. Train your people — well trained salespeople are more successful, earn more, and don't leave organizations.

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Topics: hiring salespeople Talent