Does it really matter if we lose knowledge? That question can be answered a number of ways, including a consideration of your competitive environment and the potential effects of knowledge loss on corporate strategy. But let’s start with the most immediate issue: how the loss of knowledge affects the bottom line.
Invisible Hits to the Bottom Line
HR executives generally know the costs of recruiting, hiring, and training, whether incurred for freshly minted college graduates or for experienced knowledge workers. Of course, the costs still vary according to the industry, the size of the organization, its geographical dispersion, and its policies about hiring bonuses and relocation benefits; however, these ...
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