Alex Nguyen. (LinkedIn Photo) People tell me I don't have company loyalty. But then I ask which companies have employee loyalty. Those two lines are part
‘I’m proud of being a job hopper’: Seattle engineer’s post about company loyalty goes viral::undefined
I don’t understand how it works out for them though. Hiring is so much more expensive than retaining staff, not just the higher salary, but the loss of productivity from losing someone with institutional knowledge and needing to train the new person which can take a really long time to get them up to speed.
Many of the most wealthy and powerful companies in our world have never made a profit. Many times, companies succeed by currying the favor of the rich and powerful more so than anything else.
I don’t understand how it works out for them though. Hiring is so much more expensive than retaining staff, not just the higher salary, but the loss of productivity from losing someone with institutional knowledge and needing to train the new person which can take a really long time to get them up to speed.
You’re using logic, and that may trip you up here.
Hiring is spread out into different cost buckets, whereas a 20% hit to one resource’s payroll stays in payroll.
You see if you slice the cake enough times. There becomes more cake.
That’s called accounting.
Many of the most wealthy and powerful companies in our world have never made a profit. Many times, companies succeed by currying the favor of the rich and powerful more so than anything else.