By Buck Love, Business Retention & Growth
In a study conducted by Center for American Progress (CAP), average costs to replace an employee can range from 16 percent of an annual, low-paying job salary to upwards of 213 percent of executive annual salaries.
Local efforts to address this issue are underway with the formation of a new partnership called TeamWork Northwest—a resource network for employers comprised of both public and private partnerships that work to improve job retention through employee support and training. This new approach will offer select companies a share of a dedicated “Success Coach” to assist all employees facing work/life issues that affect their attendance and performance.
A presentation of this pilot program, currently available for Charlevoix and Emmet county employers, will be held on April 24, 2018 from 10:30am – 11:30am at the Petoskey Public Library, 500 E. Mitchell Street, Petoskey 49770 in the downstairs conference room. To register, please call Dave Droste at 231.439.5239 or email firstname.lastname@example.org.
An investment of one hour may turn into substantial savings for your company. Don’t miss this opportunity to learn how to implement a Best Practice Strategy to begin reducing your HR headaches!
For those wishing to analyze a more accurate picture of your company’s turnover cost, this template provided by Greg Willard-ERE Recruiting Intelligence, calculates factors such as: Pre-Departure Costs, Vacancy Costs, Orientation & Training Costs, Administrative and Hiring costs and notes the intangible impact on co-worker morale and declining productivity.
Contact Buck-Business Retention & Growth, for more information and assistance at 231-582-6482 or by email, email@example.com.