The Carlton Connection

The High Cost of Employee Turnover: How it Impacts Your Business and What You Can Do About It

Turnover might seem like a minor issue, but in reality, it can have major financial implications. We’ve all seen the stats: hiring and onboarding a new employee costs an average of 6 to 9 months of their salary. That number skyrockets when you take into account the cost of training, loss of customer relationships, and decrease in productivity. With the average employee turnover rate hovering around 19%, that means employers are bearing a major financial burden each year.

So how can employers reduce their turnover costs? One option is to enlist the help of a staffing agency. A good staffing company will be able to assess your hiring needs and provide you with qualified, reliable candidates who are trained and ready to work. In addition, the cost of recruiting is generally cheaper with a staffing agency since you don’t have to pay any advertising or recruitment fees. Plus, they can provide you with valuable insights into the job market and current trends in hiring.

When it comes to turnover costs, employers need to think about the long-term consequences. If you’re constantly losing employees and having to find new ones, your business could suffer in terms of productivity, reputation, and ultimately profitability. A staffing agency can help you make sure that your turnover costs don’t spiral out of control.

So if you’re looking for a way to save money and simplify the hiring process, consider using a staffing agency. Not only will you be able to find qualified candidates quickly, but you’ll also minimize the financial burden of employee turnover. It’s an investment that will pay off in the long run!  Give Carlton Staffing a call today and find out how we can customize a solution to fit your needs!



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