By 2000, the annual cost of employee turnover in the supermarket industry had exceeded the entire industry’s annual profit by 40 percent. Replacing employees was not only an inefficient use of time, it was also highly costly.
This report found that the supermarket industry’s turnover rate had a major effect on the stages of business growth. It led to lower profits as well as major potential for customer dissatisfaction. The more employees a company retained, the lower the company’s turnover costs and the less the need to recruit and hire new employees. Read more from the North America Council industry analysis to learn how to reduce turnover in your store.