We are often asked to link Human Resources best practices with outcomes for your business. Here are what studies have found these practices result in:

• Companies using more high performance employee management practices have 22% better sales growth than low use firms

• Companies using more high performance employee management practices have 23% better profit growth than low use firms

• Companies using more high performance employee management practices have 67% lower employee turnover than low use firms.

• Businesses can increase value by up to 47% by using effective HR practices.

• The cost to replace an employee ranges from 50% to 200% of that employee’s salary.

Sources: Pfau and Kay, The Human Capital Edge, 2002 and Cornell University —  Research Report #4, 2005.

So the next time someone asks you why you are concerned about human resources best practices, tell them it is the secret to your success!