The Cost of Staff Turnover

"People don´t leave the company, they flee from their managers" - Lynda Ford, from Ford Group.

Monday, November 15, 2010

Speech by Prof. German Céspedes Herrera, from the Institute of Business Studies, during a conference sponsored by El Financiero, on "How to retain talent," which discusses the following topics:

Turnover costs in human resources

Savings by reducing turnover

Causes of turnover:
- Style control
- Work Environment
- Fundamental imbalances

How to retain talent
- Caring for recruitment process
- Creating a strong sense of belonging
- Developing current and future skills
- Establishing processes aimed at retention

More on this topic

Which Employees Are Changing Jobs the Most?

May 2019

In Costa Rica, employees under the age of 21 show the highest rates of turnover because of resignation, with 31%, higher than the general average turnover, which is 23%.

The data from the survey Business System Salary Information PricewaterhouseCoopers Costa Rica (PwC), specify that in the country the turnover of workers who began to work in 2018, was 33%.

Dificulties to hire qualified staff increases in Costa Rica

July 2014

There has been a rise in the number of firms reporting difficulties in recruiting qualified staff, especially technicians, engineers and sales managers.

In one year the number of companies who said they found it difficult to fill vacancies grew by 11%, according to figures from a survey carried out by the human resources firm Manpower, which states that "...

Operations at Cobre Panama Mining Project Normalized

July 2014

The company Minera Panama has made an agreement to resume construction work at the mine after reaching an agreement with workers over working schedules.

After construction stopped in the Cobre Panama mine project on June 27, due to a labor dispute with workers of the project, the company First Quantum Minerals has said it has reached an agreement to resume work.

Let's Steal Talent!

June 2012

Shortage of skilled labor is forcing companies in export processing zones in Costa Rica to pay up to 80% more than other private sector companies.

The insufficient or lack of value added professional skills is a problem that has led to a general increase in wages in several sectors, such as free zones, IT, and services.

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