CFO to CEO: “What happens if we invest in developing our people & then they leave?”
CEO to CFO: ‘What happens if we don’t, and they stay?”
From SMEs to MNCs and as far back as you would like to think, this conversation, in one form or another, is regularly occurring.
One of the biggest worries for business owners and managers is training and investing in quality employees and then losing them to a larger company, or worse a competitor, that might be able to offer more money, greater perks or better career opportunities.
Curiously, a business will regularly put more thought into what capital equipment to buy than whom to employ. And they will ensure there is a maintenance schedule for plant and equipment. When you look at the annual cost of a staff member, they represent significant investment…and cost. Read more