When a company has a high turnover rate, there’s a cost that goes beyond the need for a rehire. In addition to the time and money spent interviewing and training the new employee, the underlying factors behind why they left could signal a much bigger problem. Sometimes it can lead to low morale among remaining staff members, which can quickly become contagious. In today’s world, reviews are now available by current and former employees, and they can very easily scare off future applicants. For these reasons, it is always in a company’s best interest to maximize employee retention. 

As a leader, it’s important to surround yourself with a team of people who not only see your vision and want to help you achieve it, but also have the tools to succeed in the business world. While it’s great to have a dedicated and loyal employee who strives to do better, unless they can manifest their goals into practical, real-world applications, there isn’t much benefit.