How LXPs Enable Career Mobility

Category: Education

For any business, the cost and impact of competent employees quitting the company are huge and difficult to mitigate. There’s the immediate impact of lost productivity, the medium-term impact of hiring new resources, and the long-term impact of lost knowledge, skills, and experience. Moreover, it can be demotivational to other colleagues, or worse – start a contagion as a promising talent that leaves tends to take other good people with them; an even worse situation is when capable people emotionally and intellectually quit and yet stay in business. In such situations, the business takes a heavy hit due to employee disengagement – an even more infectious disease than resignations. According to a study by Gallup, the incremental cost of replacing an individual employee can range from one-half to two times the employee’s annual salary.