For the amount of money your dealership loses every year due to turnover, you could purchase a 3-bedroom house in the Garden District of New Orleans (convenient if you’re planning to attend NADA in January).
Or, you could buy 6 Batsuits. Who am I to judge?
The point is that the average automotive dealership spends $1.5 million each year covering replacement costs from employee turnover. That astronomical sum amounts to a beautiful Louisiana home, a collection of superhero costumes or, to take a dealer-specific example: proceeds from about 1,200 vehicle sales.
Clearly, turnover is a serious encumbrance on dealers’ bottom lines. And yet they frequently allow the problem to persist unabated, for two reasons:
1. Dealers don’t know how much employee turnover is really costing them, and
2. Once they do, they aren’t sure what to do about it.