POOR HIRING DECISIONS ARE ONE OF THE MOST EXPENSIVE WORKFORCE ISSUES
A 20% price tag
The evidence is undeniable – numerous research studies* over the last 20 years have regularly put the cost of staff turnover - by the time you recruit and mobilise your employee - at around 20% of the individual’s starting salary for frontline roles. These are direct costs and regularly do not include lost productivity or the impact on clients and residents – a critical issue in a CDC world. That is a cost of $8,000 for a personal care worker earning $40,000 per year.
The most effective, and the cheapest way to improve staff retention is to look at the start of the employee lifecycle, by reducing hiring mistakes. Use our Cost of Staff Turnover calculator to calculate your annual staff turnover, the associated cost and how much a 30% improvement in staff turnover could save your organisation.
CALCULATE YOUR COST OF STAFF TURNOVER
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Average number of employees in your company Average number of terminating employees per month Your annual turnover ratio Estimated cost per employee termination Your total yearly cost of staff turnover A 30% reduction in turnover costs can save you |
START LEVERAGING THE SAVINGSThe average turnover in the care sector for frontline care staff is around the 25%.
A reduction of 1 percentage points in an organisation's annual staff turnover ratio could cover the cost of using behavioural screening. See for yourself how behavioural screening can give you more insight before you hire, reduce your hiring mistakes and improve your bottom-line. |
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