A great deal. On day one, a slow laptop with no software or credentials tells a new hire that nobody prepared for them. That is not the message HR wants to send.
After that, daily irritation builds up. Equipment, chairs and office all weigh on the experience of work; talented people with alternatives notice. Fast computers and a helpdesk that answers are already part of the employee value proposition.
And there is the risk side: when asking for help is not worth it, people improvise: USB sticks, personal Dropbox, email forwarded to their phone. The work gets done, but data exposure grows.