Costs and Risks of Losing an Employee
1 min
career
management
Costs. 🔗
- Finding replacement may take from 1 to 12 months, depending on seniority and job market.
- Time of engineers/managers on interviewing new candidates.
- Money on recruitment activities.
- Equipment, accesses, tools, documentation, forms, calendars, etc.
- Other employees may lose motivation if ex-employee was a good colleague/friend.
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Educating the new employee the same things that you taught ex-employee - 1-6 month.
- While looking for replacement you need to find someone to fulfill the duties of the ex-employee.
- Waiting for new the employee to get familiar with existing project may take 1-12 months, depending on project complexity and age.
- New developer 100% won’t know everything about system, what ex-employee knew. Say welcome to the new unexpected bugs :(.
Risks. 🔗
- Risk #0: missed deadlines.
- Risk #1: few times I’ve seen that the ex-employee drags colleagues along to the new company.
- Risk #2: the new employee won’t be accepted by the team.
- Risk #3: the new employee won’t accelerate to the same pace as ex-employee did.
- Risk #4: the new employee may not like the project/management/team and leave in a few months or a year, and the company is back to square 1.
Questions Of The Day. 🔗
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Will the new employee demand less compensation?
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Why not just promote the ex-employee then? :thinking-face: