Tools to reduce employee turnover and increase productivity
The Harvard Business Review states that up to 80% of employee turnover is due to bad hiring. The US Department of Labor and Statistics from 2014 states that the average cost of a bad recruiting decision can equal 30% of the individual’s first-year potential earnings. So with these statistics, a $30,000 employee would easily cost your company approximately $9,000 in turnover costs. Most sources suggest that cost is even higher.
Bottom line? Hiring the wrong people is expensive and cuts into company profits. As the economy continues to strengthen and hiring ramps back up, it’s critical to ensure the accuracy and efficacy of your hiring process needs. Companies are increasingly turning to pre-hire assessments and employee evaluations to help reduce costs from employee theft and absenteeism. Lower recruiting and hiring costs, lower training and development costs, generate faster time to full productivity, and improve sales performance and customer loyalty.
Our suite of diagnostic tools can help 1) reduce unnecessary turnover expense and 2) develop a more engaged and productive workplace.
We have a variety of validated online assessment solutions to assist you with your hiring and talent management challenges. Our tools are also customizable to fit your company’s particular need at that time.