IntroductionCompanies and organizations have turnover at all levels. Turnover can not be prevented as some employees do not work out in the position in which they were hired, regardless of the number of assessments completed prior to their hiring. When senior level and corporate CEO's are removed from their position, it is often covered in the media and the communities take notice due to the costs that the company will pay out. However, turn over at the mid-level of management and hourly employees can create large costs for companies as well, in forms of tangible and intangible costs.
When a company or organization has to replace a mid-level manager there are many challenges that the company faces. The costs are hard-core figures as well as the soft costs that the company also has to deal with. The growth of businesses has changed the volume of products and the number of people employed.
Society for Human Resource Management
English: The model shows institutions and market a...
The model shows institutions and market as a possi...Over the last several decades, more and more women have entered the workforce and are climbing the corporate ladders, which have changed how diverse the workforce is currently. When replacing a mid-level manager the costs vary now compared to decades previously.
Tangible costs for companies are that in which have an exact dollar amount. When a mid-level manager resigns or is terminated from a position there is official paperwork that must be completed. The tangible costs for this include the time worked for the employee having the position to complete the paperwork. Because there is a legal step that must be taken, a person must be hired for a position within the company to complete the necessary steps when someone is no longer employed with the company. The actual costs of this can vary depending on the salary or wages of this employee and the time it takes...