The True Cost of Replacing an Employee

Jennifer L'Estrange
September 30, 2021

As employers manage the impact of the “Great Resignation”, losing an employee comes at a major cost to the company.

Red Clover’s founder and Managing Director, Jen L’Estrange, was featured by GoBankingRates to provide her expert insight on the true cost of replacing your employees.

Business continuity comes at a premium,” L’Estrange said. “If you’ve just lost someone in a critical business operations role, then the first priority is finding cover. For management roles, interim can be a solution, but it comes at a price — typically 20-25% more than the fully loaded cost of the person who just left.

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The Results

Construction and Contracting

A commercial roofing contractor was in hyper growth mode. They had goals to increase their field workforce to expand their service area to additional states and geographical locations. If they were to grow their field workforce, they would also need to increase their administrative, operational and sales headcount to support the additional workload created by increased field work. Additionally, they were challenged in workforce retention and development, experiencing high turnover, and did not have a dedicated Human Resources professional to manage employee relations and compliance issues that come with trying to scale a business.

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