Peter Cappelli

Most organizations have almost no idea of their turnover costs, their hiring costs, or the costs of keeping a job vacant. They do know what it costs when someone is in the job—the amount they’re paying that person—so they know how much they’ll save if they get rid of him or her. That’s one of the big problems in talent management: CFOs can give us labor costs to the penny, but they can’t measure the value of employee contributions, which creates a bias toward cutting.

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