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Do you know the cost of replacing an employee? Well, let me tell you, it’s expensive. According to Gallup, the cost of replacing an employee can run you anywhere from one half to twice the amount of their annual salary.
And if you were to ask the financial wellness platform Enrich how much it costs to replace an employee, they will tell you, on average, about six to nine months worth of a person’s annual salary. Yeah, six to nine months. Wow, that’s a lot.