Yup, a grabber.  See, the story is about Intuit (they make Quicken), so I used their name in the title, and then added some other letters to make it another word…oh never mind.

Anyways…

At an upcoming HR Technology conference, the VP of Rewards at Intuit will be giving a presentation titled With Lower Bonuses, Intuit Turns to Employee Recognition –  how Intuit and their VP of Rewards leveraged their existing rewards program to maintain employee engagement globally for just one percent of base payroll.

7500 employees, give or take.

Let us say that each employee makes $50,000.  I believe that is a conservative estimate.

$375,000,000 in payroll.

$37,500,000 in annual costs of turnover to the organization based on their own reported voluntary turnover rate of ten percent.  Not much of an annual turnover whether you measure it inside or outside their industry.  Most of us would dream of a ten percent annual turnover.

And from a standpoint of the cost of turnover, it’s only twelve bucks every second of every minute of every hour of every day of every week of every month of every year. Not just business days.  EVERY DAY.

Yea, not much. Just twelve bucks a second.

$3,750,000  annual cost of new rewards program designed and enhanced to improve employee engagement.  Now I am thrilled that any company can use the word “million” when it comes to their rewards program, especially when the word used is plural.

HOWEVER….

That equates to just twelve cents a second.

It’s not always easy to stop an outbound flow of twelve bucks a second when you are trying to hold it back with a twelve cent dam.

Yea.  Dam.