High Staff Turnover is Big Challenge for Companies

According to a recent report conducted by recruitment website Jobs4u, one of the biggest challenge UK enterprise is currently facing is a retaining their employees.

The research revealed that – on average – high staff turnover is costing UK businesses a staggering forty billion pounds a year, with most companies losing over ten per cent of their staff each year.

The findings of the report should act as a warning for people who have recently completed the company formation process; your team are your business, approaching recruitment with haste could have some damaging consequences, from both a commercial and efficentcy point of view.

Jenny Aidow from Jobs4u comments; “ The fact that so many people are leaving their current role indicates that the job market is improving. However, the long term impact of a high staff turn over can be catastrophic for small business, especially those which have recently been formed.”