Business Services Industry
INFO-TECH FIRMS INCREASE EFFORTS TO KEEP WORKERS.
Crain's Detroit Business, September, 1999 by KOSSEFF, JEFFREY
While technology companies scramble to recruit the best talent, they also fight to avoid employee turnover, a damaging but inevitable industry problem. The increasing rate of job-hopping among technical workers can be expensive, said Kevin McGrath, vice president for human resources at Comshare Inc., a software and programming company.
The cost of replacing technology employees is often one to 1.5 times their annual salaries, he said. In April, the Information Sciences Human Resources Association polled its 50 member companies and found annual turnover averaged 22 percent. At Ann Arbor-based Comshare, McGrath said, turnover has increased to between 14 percent and 15 percent today from about 7 percent in the early 1990s. At Farmington Hills-based...
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