04/12/2023
๐ฌ ๐ฌ Conflict resolution, yes, please!
๐คจ Employee turnover: Conflict can lead to turnover, which can be costly for organizations. The cost of replacing an employee can range from 50% to 200% of their annual salary (SHRM, 2016).
๐ซฃ Absenteeism: Conflict can also lead to increased absenteeism, reducing productivity and costs. The cost of absenteeism in the U.S. is estimated to be $84 billion annually (CDC, 2019).
๐ Litigation: Conflict can also result in litigation, which can be costly in terms of legal fees, settlement costs, and damage to the organization's reputation. The average cost of a workplace lawsuit in the U.S. is $125,000 (Employment Law Alliance, 2017).
๐ต Reduced productivity: Conflict can lead to reduced productivity due to distractions, stress, and decreased motivation. One study found that workplace conflict can cost organizations up to 200 hours of lost productivity per employee per year (CPP, 2008).
๐ท Healthcare costs: Conflict can also increase healthcare costs due to stress-related illnesses. One study found that healthcare costs for employees who reported high levels of workplace conflict were 46% higher than those who said low (CPP, 2008).
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