We all know that high turnover rates are undesirable. Turnover can be a huge problem for your business, costing you thousands and creating huge headaches for you and your team.
But while the problem is a known one, few people stop to consider the hidden places where turnover is affecting you before and after your employee is a thing of the past.
Here are a few nooks and crannies of your business that we will bet you didn’t know are hiding turnover costs:
Human Resources & Hiring Managers: The funds it takes to compensate the people who to look for talent, interview and make sure all the pieces are in place can add up quickly. These costs should technically be calculated as part of your turnover costs overall.
Interviewing: Once you have your HR and or Hiring Managers in place, it’s time to interview. Did you know that interviewing costs should also be part of your turnover calculations?
On-Boarding, Orientation & Training: Once you have your New Hire in place, you’re golden, right? Not so much. New employees need to be on-boarded and trained. They will not be producing at-speed for a good bit of time, and neither will the person you’ve put in charge of training them. The cost of all of this time spent needs to be added into your turnover calculations.
So, how do you make sure that you are adequately calculating your turnover costs?
Well…how about we make it easy for you and provide you with this nifty Turnover Calculator?
That’s right! This is a free tool that is super simple to use, and could end up saving you thousands in hidden turnover costs!
Just click HERE to access our easy-to-use Turnover Calculator! (insert link https://woodhillsolutions.net/turnover-calculator-1)
Have more questions? We’d love to hear from you. Contact us at Woodhill Solutions, and let us help you save time and money by putting people in the right seats and building a team that stays together.
Call Us Today!