There should be some further study in this area. I'm skeptical of the quoted costs of replacing employees and missed productivity ie.. 213%. Not to mention replacing poor performers can often be a value gain not loss. About cost, we're talking managers' time - but maybe hiring is most valuable thing they can be spending time on, other than directly generating revenue.
I think this is predicated on the idea of replacing an employee who leaves of their own accord, that you would have preferred to hold onto. Not of one you let go, or are glad to see leave. Basically, just the employees who are worth the amount you are paying them, or more; not those who are worth less.
