Stop the revolving door of employee turnover

Stop the revolving door of employee turnover

Stop the revolving door of employee turnover: Employee assessment tools have advanced so companies can now more effectively identify, select, and retain top performing employees

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The challenge and cost of employee turnover is one of the most discussed, most frustrating and most misunderstood problems businesses face. CEOs have identified employee retention as one of their key challenges in 2005. Yet organizations continue to struggle with this costly issue. The science of psychological assessments has recently advanced, allowing the development of much more predictive assessment tools.

If you do not know what your employee turnover cost is, many experts agree that you can come surprisingly close to the cost of a single turnover incident by simply multiplying the annual salary for the position times 2.5 that will cover productivity loss, recruiting and hiring cost, training cost, liability, unemployment and the other 101 hidden costs that we usually try not to think of when we lose an employee.

Employee turnover often begins with a poor hiring decision. When we hire someone who is a poor job fit, we have already begun an almost inevitable course that will end with failure a

 

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