Losing top talent is painful and expensive. The costs (financial and otherwise) of voluntary turnover are significant. The direct costs of recruitment, hiring, and training are more obvious. Indirect costs, such as reduced productivity, lost opportunity, lower morale, and time to proficiency are harder to quantify, but impactful, nonetheless.
Talent retention costs for the life sciences industry are high due to the need for specialized skills, education and training, particularly for customer-facing roles. And talent availability is tight as the “war for talent” re-emerges in a tighter economic environment.
To learn more about retention risk factors which contribute to the loss of talent, and to ready your organization and your leaders to identify “at risk” talent, contact WLH Consulting, Inc. We can provide retention solutions for high-performing employees and help create a plan that addresses organizational issues, manager/employee relationships, and individual retention risk factors.