The topic of employee turnover has been firmly in the spotlight for the past 18 months, with a record number of workers leaving their jobs in what has been dubbed ‘The Great Resignation’. 

And while a certain amount of annual turnover is natural (10% or less is viewed as healthy), there’s no getting away from the fact that it’s an expensive proposition. How expensive? Well, an oft-quoted study by the Society for Human Resource Management found that, on average, employers need to spend the equivalent of six to nine months of an employee’s salary to find and train their replacement. For an executive, this cost can rise to more than two years’ worth of their annual salary—and that’s before you factor in other negative outcomes like loss of momentum and opportunity, and the risk of the departing employee taking their knowledge and contacts to a competitor.

Which leads us to the million-dollar question: what can you do to protect against avoidable turnover?