Justification: More than just making sure your CEO and CFO are on board: staff, HR teams, stakeholders, executive teams and board members also need to understand the value. They need to understand the return on investment. A program is not just retaining your existing staff; but also attracting future staff. Understand and articulate the costs of not having a program in place. Staff who are not valued leave organisations. Replacing staff costs between 75% and 100% of salary.
18 November 2009
rewards and recognition A to Z (J=Justification...)
Justification: More than just making sure your CEO and CFO are on board: staff, HR teams, stakeholders, executive teams and board members also need to understand the value. They need to understand the return on investment. A program is not just retaining your existing staff; but also attracting future staff. Understand and articulate the costs of not having a program in place. Staff who are not valued leave organisations. Replacing staff costs between 75% and 100% of salary.
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