THE HIGH COST OF TURNOVER
Whether at the management or hourly level, losing workers is a huge expense, some of it sneaking in as soft costs that aren’t as immediately clear as the dollars and cents part. Apply a price tag, though, and the drain on resources becomes clear. The Center for Hospitality Research at Cornell says the average cost for the loss of a single front-line staffer is $5,864, the expense adding up in recruiting, selection, orientation/training/onboarding, and lost productivity.