There are plenty of hidden costs in internet marketing that the business owner is not aware of. If you are one of those business owners who has decided to do online marketing inhouse, then there are a lot of expenses that you would have to deal with.
There are a few hidden costs as well that you would have to consider when calculating costs.
We will take a closer look at one of the hidden costs, attrition. The cost of attrition is very rarely taken into account when calculating expenses.
(Although this is not usually a mistake, attrition is sometimes attributed to failure of management to have the right processes and policies in place. Therefore, we will include this under mistakes).
Attrition can take place in the following stages:
- No show for new hire training
- Quits during new hire training
- Quits in nesting or once on the floor for 30 days
- Quits in post 90 days on the floor
Every time it happens, there is a huge cost that is incurred by the company. There is more time and effort that has to be spent on replacing them and starting from the beginning.
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