22“263 Is Zenny”
The average amount of training a new retail industry employee receives is seven to eight hours per year. The average turnover among retail industry employees is 120 percent a year. The average estimated cost of employee turnover is at least $40,000 per person per year. Out-of-pocket turnover costs include advertising the job, recruiting, interviewing, background checks, training, compensation, employee badges, compliance to a million government regulations.
Yet the biggest cost of turnover is invisible. The biggest cost of turnover is lost revenues. Sales are lost when the customer is ill served by an employee who knows little to nothing about the merchandise. Sales are lost when there are unmanned or undermanned departments ...
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