How much does employee turnover really cost?

Re:How much does employee turnover really cost? by tlogan on Tuesday January 17, 2017 @05:12PM (#13421930)

The problem with salary and market rate is that the current rule is: in order to get a raise you need to change jobs.

In many companies (I worked in one) you need to get CEO approval to give somebody raise more than 5% ("CEO approval" means - no way). But there was a trick: you can re-hire valuable employees after a year with 20% to 50% increase in salary. And they will not even lose 401k matching or other benefits they have accumulated.

And system seems to work well: re-hired employee would be much more experienced and they came back like nothing happen.

So I do not know...

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Re:How much does employee turnover really cost? by dmourati on Tuesday January 17, 2017 @11:19PM (#13423929)

Not sure what you mean by rule but that has not been my experience. I'm unsure how up the ladder my raises have been but I've gotten 16%, 18% in the past year and half.

Maybe CEO approval just means the company is belt-tightening.

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