The true cost of turnover...

Bart Wilson

There are lots of stats out there on how much it costs a dealership when they lose an employee.

How much does it cost you?

Derrick Woolfson

On a different note, Bart - one of the odd things about turnover is that despite a dealer potentially losing hundreds of thousands of dollars in profits - most still do not care enough about the 'cost' to make the needed changes. That said until a dealer uses a streamlined process and/or platform to track an employee through their journey I am afraid there is not enough tangible data to have a conversation. Dealers are largely still shoving this issue under the rug - think about it, despite a dealer having 25-30 new faces every two quarters, or more than 100 new faces a year in sales (depending on the size of the store/group) they still follow the same process. 

Dealers have also largely failed to change their infrastructure (regarding sales) other than offering "product specialists," which is just another buzz word. If retention has not gotten better, then clearly it is a much deeper issue than changing the name of a position.  

Morgan Hardy

As a result of losing good employees, the dealership can, in turn, lose customers and other employees. Customer retention can be impacted and I have seen customers follow sales managers and salespeople regardless of what dealership they work for.

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