You’re fired! Those are words that no employee ever wants to hear and that employers hope they rarely have to utter. In a period of more-than-full employment such as we are currently in, with a slightly under 4 percent unemployment rate, it is particularly problematic to lose an employee, especially by having to discharge them. The costs of taking such action are both emotional and financial.
The loss of a trained employee will result in the cost of replacement, necessary training, inefficient and reduced production, and potentially impact team moral, among other things.