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What Are the Costs of Employee Turnover?

Can you as an employer account for long-term costs?

The AARP study, "The Business Case for Workers Age 50+: Planning for Tomorrow's Talent Needs in Today's Competitive Environment" by Towers Perrin (now known as Towers Watson), examined the recruitment and retention of older workers from a business case perspective. The report found that replacing an experienced worker at any age can cost 50 percent or more of the individual's annual salary in turnover-related costs, with increased costs for jobs requiring specialized skills, advanced training or extensive experience, which are qualifications often possessed by 50-plus workers.
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