Recruiting and hiring a great employee takes time, effort and a little luck! Retaining that same employee takes as much effort, if not more, to keep them working for you. There is a report from the Center for American Progress that says replacing an employee costs on average 20 percent of that employee’s annual salary. That might not seem like a huge number, but that cost is on top of what you’ll have to pay your new employee.
There is an old saying that there is no “I” in team, meaning the power of a team is more powerful than one individual. That’s true in most cases, but a recent study from Harvard Business School, Boston University’s Questrom School of Business, and Northeastern University might show that forced, structured collaboration could hurt your team’s problem-solving abilities over a less structured collaborative environment.