Cost of Employee Turnover vs Sponsoring a Scholarship Recipient
An investment in knowledge always pays the best interest.” - Benjamin Franklin
Scholarships make good business sense when you calculate the cost of turnover! Rarely do programs include in their budgets a line item reflecting the cost of turnover, but when calculated it can be considerable.
This example illustrates the cost of teacher turnover at one center. In this example, a teacher leaves giving two weeks notice and the center covers the vacancy for a month. Total estimated cost does not include the incalculable costs of missed opportunities during the time period (for example cancelled staff meetings; delays in evaluations, time workings on job ads, limited parent contact, lack of consistency for children, etc.)