Do you feel like you keep hiring the wrong kinds of people because they end up leaving or you end up letting them go? Turnover - whether it's voluntary or involuntary - is expensive. A conservative estimate by the Bureau of Labor Statistics estimates that the average employee replacement cost is $13,996 per employee. In addition to replacement fees, the true cost of turnover involves hidden costs such as productivity loss, workplace safety issues and a downward spiral in morale. No one really knows exactly how costly it is. The goal is to find the right people who are productive and will stay long enough for you to recoup your investment.
Sometimes the task of hiring better employees starts by figuring out why they are leaving. It's important to understand the reasons behind the turnover.
This is where Select International can help. We can do a scientific examination of your organization's turnover so that you can learn why people stay, why some leave, and what you can do about it.
Then you can incorporate the right solutions into your personnel selection practices. For example, if a large percentage of your new hires were leaving the job because of an unpopular shift schedule, you could put additional screening questions up front or during the interview to specifically discuss this issue before an offer is made. Similarly, if you are letting people go because they do not have the level of attention to detail that is required for the job (and therefore make too many mistakes), you could include an assessment in your selection process to measure this attribute to ensure your new hires will be effective in this area.
Our approach to examining turnover varies from client to client. We will collaborate and brainstorm with you to design a study that works best for your organization. Whatever your specific turnover issues, Select International can help you get answers. Contact us today to get started.