How to Save Your Business from Turnover’s Risk

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Economists state a truer measure of the cost of an item is its opportunity price while most specify cost by the number written on a price. Opportunity charge accounts not just for the market price of an item, but includes the value of what must be given up in order to make that purchase. By way of example, the true cost of going to school encompasses not just the high prices of tuition, housing, and books, but also the value of the salary you would have earned if you had determined to move straight to work. Many workers consider opportunity costs when determining whether or not to leave their occupations. For workers to opt to stay in their positions, they must believe that their job outweighs their options. Organizations have high employee turnover rates because they don’t make their employees feel this way. In reality, two out of 3 millennials report they would like to leave their businesses by 2020. Attempting to retain these workers drains precious company time and resources. Fortunately, there’s a solution.

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