Its not uncommon to find churn rates in retailing, hospitality and call centres to be in excess of 50 per cent, a figure common with many other volume employers, according to the CIPD. And its no secret that high attrition rates cost companies a great deal of money. They have to take into account the often substantial costs of recruitment and selection, such as advertisements and agency fees, and also the management and administrative time that goes into transitioning people in and out of the company. All this on top of the loss in productivity that is suffered when notice periods are being worked and new employees are being trained up.
