Talent Plus ® Solutions Result in Dramatic Decreases in Turnover
Employee Retention and Turnover
Low unemployment and high competition make employee retention paramount. At a 2,000-employee company with a $60,000 mean salary/benefit package, turnover cost is 25 percent – up to $4 million annually*.
Company Details
Concept:
Employee Retention and Turnover
Solution:
Talent Plus' Quality Selection Process ® (QSP ®)
Industry:
Retail
Company:
Retail Chain
our impact
Talent Plus ® Solutions Result in Dramatic Decreases in Turnover
When this client partner with over 600 stores implemented Talent Plus’ Quality Selection Process ® (QSP ®), turnover reduced 29%, 16% and 7% for hourly associates, all management and store managers, respectively.
New Store Turnover Reduced
Turnover cost includes employee development, experience gained and productivity lost. Talent-based solutions combined with selecting employees who fit the role and culture can increase retention increases and decrease turnover.
One store using QSP had 2.8% less turnover** than a store not utilizing QSP — a projected 34 % decrease in annual turnover
*Saratoga Institute and Kepner-Tregoe, Inc.
**Per month in its first two months of operation
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