It can take six months to recover the investment recruiting a new employee, and turnover rates often exceed 50% before six months on the job. With this level of turnover, most organizations will lose money on new hires.
To earn an ROI in recruiting, organizations must start improving retention. More important than measuring general influences that cause employees to leave is adopting a formula for conservatively estimating the turnover cost per employee.
THE PROGRAM
- TWP rates new hires as A and B players, and guarantees to cut the turnover of A players in half, retaining them until they are profitable. Strategic Programs is penalized for every A player our clients lose before they are profitable – and is rewarded for each A player who exceeds the breakeven point in tenure.
PRODUCTS AND PROCESSES
- TWP guarantees you will retain more A players
- Profiles job applicants to match the position
- Analyzes current data to track retention
- Checks in with new employees in the first six months to extend engagement and productivity
- Communicates new hire concerns to retention director, and recommends solutions
- Trains managers to use TWP findings to improve retention
WHY USE TWP?
- Profiles quality hires
- Reduces high turnover risk with hires
- Builds a historical database for predictive analysis
- Reinforces the onboarding process
- Addresses early relationship issues, misunderstandings, and unintentional negative feelings
- Identifies high potentials
- Cuts A player turnover by 50%
- Increases productivity by improving attitudes and increasing tenure