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M21081 -The real financial costs of high employee turnover (Online)

  • 5 Nov 2021
  • 09:15 - 12:30
  • Online Webinar


Registration Time: 09.00
Session Time: 09.15 - 12.30 incl 15min break
Speaker: Mr Ray Micallef
Venue: Online Webinar

Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00
*Group bookings for 3 or more participants available.


It is becoming increasingly clear that one of the most critical responsibilities of CFOs in coming months will be supporting efforts to build new capabilities and create an environment where the best employees are retained, without overlooking the attitudes and behaviour an organisation needs to reach and withstand its full potential—and raising the bar on talent development! Employee turnover is a major business concern that starts with recruitment. The goal is to hire the best employees who will in time, perform well and stay in an organisation for years to come, but employers and manager cannot neglect their role in keeping team members engaged. Failing to do so results in extremely costly turnover. When it comes to turnover, most people are hyper-focused at the remuneration side of things. However, it is the consequences that fall outside of profit margins that raise the red flags. A focus on capability building is especially relevant now as businesses attempt to rebound from the health and economic effects of COVID-19.1 Think about it: the pandemic has accelerated the use of automation, artificial intelligence, and other digital technologies to enhance or streamline processes. And what about people? Do we consider employees as “easy to replace”? The pandemic has changed the priorities and demands of customers and investors in ways that have not totally revealed themselves yet. And all this is happening as the world of work continues to change rapidly.

This module intends to discuss the effects of a high employee turnover and the direct and indirect costs, without overlooking the backdrop of the effects of the pandemic.


• Discuss what is employee turnover.

• Illustrate what is the true cost of employee turnover.

• Identify the factors that contribute to high employee turnover.

• Show ways on how to reduce employee turnover resulting in better financial results.

Target audience

Accountants, Auditors, Entrepreneurs, Practitioners,
Professionals seeking to enhance their Continuous Professional Development

Speakers profile

Mr. Micallef is a business, insurance and healthcare professional with a career spanning ten years in the healthcare sector, and over twenty years of which in insurance and financial services management.
He is an Associate of the Chartered Insurance Institute (UK) and a Chartered Insurer. He holds a master’s degree in business administration (Henley Management College UK) authoring his theses on “The Key Elements for Growth in the Private Medical Insurance Sector”.
Mr. Micallef’s experience as an insurance and business trainer spans over 18 years as a visiting lecturer at the Malta Insurance Training Centre, the Global College, The London School of Commerce, STC College, Learnkey Institute, the Gulf Insurance Institute (Bahrain and Saudi Arabia), the Malta Chamber of Commerce (LCCIEB), RISC Institute, Leoron, and Arizona Computer Services pvt. Ltd, delivering customized workshops for various companies in the UAE and the Kingdom of Saudi Arabia.
Furthermore, he has managed to increase his network of institutions in the Gulf area and has developed and delivered several workshops for a diverse audience in medical insurance and provided tuition for CII subjects in Private Medical Insurance, Claims Management, Economics and Insurance Law. He also lectures Information systems in Business, Economics and Business administration, Business Ethics, Risk Management and Capital Adequacy, and Customer Services.
Mr Micallef has been lecturing in the GCC region, as a senior lecturer, since 2014, and has accumulated a vast experience in lecturing different Business Strategy, Management, Marketing, Human Resources, Insurance and Supply Chain Management subjects as short or long courses, on behalf of various institutions in the region.


3 Hour Professional


Terms and conditions apply


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