How Much Does It Cost Companies to Lose Employees?

One of the criticisms of raising the minimum wage is that jobs will eliminated because employers cannot afford to pay more.  Any campaign needs to have strong counter arguments to this old saw.

1. The current minimum wage is so low that it encourages employee turnover.  Employee turnover is a hidden tax on employers — a 15-20% tax in re-training costs.  (Source: How much does it cost companies to lose employees? By SUZANNE LUCAS, CBS MONEYWATCH November 21, 2012)
2. An analysis of the number of job postings is needed.

>>>How many are for minimum wage jobs (& sub-minimum tipped worker/exempt jobs)?

>>>Are they full time or part time jobs?

>>>How long are the “help wanted ads” posted before the positions are filled?

>>>How long before the same job re-appears in a new posting?

>>>Does PA Dept of Labor & Industry publish statistics on vacancies/hires/repostings for the jobs than are filled thru the CareerLink system?

Some jobs may be lost if the minimum wage is increased, but employers may also find workers available to fill jobs that currently are hard to fill/retain. It would be interesting to see if finding/retaining employees for low wage jobs has become easier in those states/cities that have raised the minimum wage.