Employee Turnover: What’s Changing & How to Solve It
Why do 46% of business leaders say turnover is their number one problem? Because it’s not a simple inconvenience, it’s a problem that if gone unresolved can seriously impact your bottom line.
Here’s what’s at stake:
Money
- When entry-level employees leave, it costs 30-50% of their annual salary to replace them.
- When mid-level employees leave, it costs upwards of 150% of their annual salary to replace them.
- When high-level employees leave, it costs 400% of their annual salary to replace them.
Time
Unusually high turnover can be a significant time suck. Exit interviews, advertising the job, recruiting candidates, interviewing and onboarding and training replacements…it all adds up.
Productivity
High turnover not only leads to additional recruiting and training expenses but also shows up as lower productivity for other associates who are picking up the slack during the gap of hiring a replacement and getting him or her up to speed.
In this guide you’ll learn:
- The true causes of employee turnover
- Retention strategies
- How to solve the turnover problem with metrics and insights
Start reducing turnover in your organization today and download the guide.
Replacing Employees Is Expensive
Fight turnover by downloading this guide.
Buyer's Guide To HCM And Payroll Technology
An HCM platform is the foundation of your business, and choosing the technology is one of the most important decisions you'll make.
Get ExpertiseMore to Discover
Webinar: Virtual Demo: Workforce Management Solutions - 2/10 @1pm ET
Paycor’s human capital management software modernizes every aspect of people management, from the way you recruit, onboard and develop people, to the way you pay them, retain them and build a company culture. With a single source of truth for all employee data, you’ll never have to switch platforms, log-in to multiple systems, re-key information or open multiple spreadsheets. In this live virtual demo, our product experts will highlight Paycor’s Workforce Management Solutions, including Payroll, Time and Scheduling. Discover how HR Leaders can optimize productivity, track labor costs, confidently pay employees and ensure you have the right coverage when you need it. Speakers: Kim Saldana and Kyle Baker
Getting a Handle on Employee Absenteeism in Manufacturing
Absent employees represent a significant cost to any business, but it poses a particular problem for manufacturers. In factories, employees fill more specialized and skilled positions that play key roles in the manufacturing process. An absent employee may not only impact his or her immediate function but every other function downstream in the process. Some experts estimate employee absenteeism can cost the U.S. manufacturing industry $3 billion every year in lost productivity.Common Causes of Staff Absenteeism Many factors can have an impact on employee attendance but some of the more common causes include: Illnesses or injuries Stress and depression Low morale, disengagement or general job burnout Caring for a sick child or elderly...
Electronic Visit Verification for Home Health Care
As technology continues to impact and improve our lives, it also changes the way we have traditionally done things. In the healthcare industry, for example, one area of significant growth—COVID crisis—has been the home healthcare market. Even established brick-and-mortar healthcare facilities are exploring home healthcare options. As a result, the government has recognized the importance of establishing guidelines for tracking and monitoring home health care visits. What is Electronic Visit Verification? Electronic visit verification (EVV) is a way to confirm and track home health care services electronically. EVV was established in the 21st Century Cures Act of 2016 to keep better records of home health care services provided and...