A short transcript excerpt from a YouTube conversation (by Mike Andes) discussing costly employee turnover and rehiring: training costs estimated at $60,000–$80,000 per new hire, an influx of Ukrainian refugees leading to seven hires, and an overall reset that required bringing in about 15 new people after cultural misfits and inefficiencies led to clearing out staff.
$60,000 to $80,000
Seven
Fifteen
60 to $80,000 to train up. One new team member is a lot.
You bring in 17 or 15 new guys.
That's a lot of money. Yeah.
We had a whole bunch of this influx of Ukrainian refugees, and we ended up bringing on seven. Some of the people from last year, they could not adjust. So we ended up with 15 brand new people this year.
Was it kind of like a one time, like you had to kind of clear house, or was it a matter of, like, just massive amounts of churn happening consistently? It was clear house type, really. Okay, okay. And what was the main reason for having to do it? Just a matter of cultural misfits. Was it just kind of inefficiencies? What was like, the main driver of that?
It was.
