On the other hand, our people are expensive to train and it's necessary also to consider the financial value of, and necessity for, experience. A lot of companies found themselves "saving money" by cutting back on how well they looked after their staff, only to find that they were spending a small fortune in recruitment and training. They ended up with a transient workforce and no one with any depth of experience.
PWC make millions every year analysing companies' staff turnover and convincing them to retain - even if it seems expensive - rather than keep losing and replacing their people.
A smaller, happier, valued staff is more efficient and comes with a smaller recruitment and trining bill than one with poor retention. False economies are not good savings plans.