On average, employee turnover costs businesses approximately 21 percent of the leaving worker’s salary. In the U.S., total turnover rates for all industries is nearly 16 percent according to CompData Surveys – a two percent increase since 2011.
One of the reasons for high turnover that many business owners overlook are staffing related – chiefly in regards to employee training. While it may take time and effort away from your core business, working with a staffing franchise can help you lower your turnover rates. Here’s how:
•Onboarding: When employees aren’t offered quality training, 40 percent are liable to leave within their first year of employment. The lack of skills training at the onboarding level is a big factor as many workers view this as foreshadowing to an overall absence of development and growth. The fix lies within pre-screening, orientation training and clear expectations offered to new hires – something a staffing franchise can offer.
•Skills training: Making investments in continual professional development for your staffing can help reduce turnover and boost workforce morale. Examples include sending workers to seminars, having them enroll in online courses, or having a trainer come onsite to work with your employees.
•Retention: When you offer training, employees see it as a benefit and incentive to stay with your company. It also engages with key employees who may be looking for a new challenge in their career. Offering workers the opportunity to learn and try a brand-new responsibility shows them you care about their future development, ultimately improving your retention rates at the same time.
•Knowledge transfer: Even if employees have to leave your business, investing in training can help ensure that vital, corporate knowledge stays within your company. Partnering with third-party staffing professionals is the best way to develop and implement effective knowledge transfer so you don’t have to spend time making sure it happens on your own.
When you invest in training for your staff, you’re investing in the future development of your entire business. While getting started may seem tough, working with a national staffing franchise, like AtWork Group, can help your business develop an employee training program with real ROI. To find out more, contact us today.