Statistics you Must Know
Do you know the cost of a bad hire? Studies show it’s about $25,000 – and if you take on enough bad hires, it can cripple your company’s growth. Even worse, data suggests the average employee lawsuit costs $250,000. Together, these expenses add up fast.
Plus, finding the right person isn’t always easy, with 62 percent of human resource professionals reporting difficulty finding job seekers with the right skills, according to the Society for Human Resource Management. This creates a real “talent crunch.”
Yet, hiring the right talent is only half the battle. You need to hire the right person, retain them – and get them to produce at a level that justifies your expense.
Over the next several months, we’ll share shocking statistics and strategies, uncovered from millions of dollars in research studies that will help safeguard your company. Here’s a sneak peak, of what to expect.
Are you making these 10 critical retention mistakes? Find out the top mistakes companies make, without even knowing it. Plus, get access to FREE strategies, that help you boost retention – and avoid losing valuable hiring investments.
A typical American worker holds more than eight different jobs, between the ages of 18 and 32. 50 years ago, a worker held only 1 – 2 jobs, over their entire lifetime. But now, 85 percent of American workers expect to be employed by a new company within the next 12 months. That’s why contingent and temp workers are so valuable these days.
How much does employee turnover really cost you? You’re spending .5 to 5x the employee’s annual wage! Plus, turnover-related costs represent more than 12 percent of pre-tax income for the average company.. For a company of $25 million, this is about $3 million dollars lost!
With more frequent changes of positions and increased costs, how can you make sure you get your return on investment quickly? Discover how to accomplish this!
Stay tuned, for valuable information in the weeks ahead! We’ll address these important issues, provide data from impressive research reports and much more! Are you signed up for our blog? Don’t miss out, subscribe, and we’ll deliver this information conveniently to your inbox. Simply subscribe to our RSS feed today!