Better to recruit or retain?

We’re committed to making your practice better, so all this month, we’re delivering you a daily takeaway.

Today’s takeaway is…

Is it better to recruit or retain?

“It costs us approximately $100,000 to hire and train an employee before they start to pay us back. So that’s how much we stand to lose if the employee leaves.

“The industry as a whole has a turnover 50% rate for new hires — those who start in the business but won’t be there in three years.” – Jim Morrison, VP and Regional Director, RBC Dominion Securities

See the rest of the debate. Read: Is it better to recruit or retain?

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.