How to Reduce New Hire Attrition Rates

High turnover rates result in huge losses to companies of all sizes. When an employee quits, they take their training and experience with them, leaving other team members to pick up their work. It usually takes at least a month before a new person is hired, which increases employee stress, decreases productivity in the meantime, and may lower future retention rates. 

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Costs of Recruiting and Hiring

As business leaders, we are always analyzing our costs and ROI. Sometimes there are inflated fixed costs, but we accept them because they come with an expectation of increased ROI. Unfortunately, many companies today are dramatically increasing their costs for talent acquisition, but not expecting to see improvements on their talent shortage.
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