Employee turnover can represent a very substantial price tag to a company’s productivity, time and its bottom line.
Hiring the right candidates for the job is crucial to a business success story and bottom line. Replacing your employees, especially management positions due to a hiring process that did not include a professional employee background check has a negative cost factor against your profits that may typically cost you 1.5 to up to 3.5 times the employees annual salary in order to replace that employee.
Background checks for your business will be one of the best investments you have ever made when searching for the right candidate for the job. Employee screening is not always a 100% guarantee that the potential employee you consider hiring will remain with your company however, the employee screening process will at least weed out the potential job candidates that are definitely not a good fit for your business needs.
Therefore, it always makes sense to retain your best people that are already working for you as well as, look to hire only the best regarding education, job performance, experience and knowledge, honesty and longevity for your business.
No Background Checks…Consider Your Cost
If you need to calculate your cost for an employee background screening program than it is time to consider and calculate the true costs for not having a professional company conduct your employee background checks.
- Advertising for job opening cost
- 3rd party job placement service cost
- Human Resource administration cost
- Recruitment time and cost
- Hiring management cost
- Training time and cost
- Turnover cost to go through the above process over and over
Identify the Cause for Employee Churn Tips
It is very important for employers to begin to identify the reason for your business employee churn in order to reduce future rapid costly turnover from occurring
- Understand the current state of mind of your potential job applicant
- Understand the current state of mind of your current existing employees
- Discover what is keeping your current workforce from staying with your business. Why do they remain?
- Discover what employee issues remain that may lessen their commitment to your business in the workforce that may cause potential churn to develop
- Start a focus group and offer employee surveys, even anonymous if necessary
- Suggestion box easily displayed for employees to drop off their feedback
The bottom line, you don’t want to lose top performers and most certainly do not want to hire future job applicants that may be a negative fit to your existing performing team therefore, consider hiring an employee screening source to better discover if a job applicant will be a good fit or not for your organization ad also reduce any potential litigation matters by hiring the wrong job candidate.
In conclusion, to help reduce your business turnover, you should always employ a screening policy in place within your hiring process. Good timing to run an employee background check during your hiring process typically would be best before investing too much time with an applicant of interest that turns out not to be a good for for your business.
Therefore, don’t take unnecessary risks hiring your potential staff based upon personal emotions and feelings verses a professional pre-employment background check that will provide the facts you need to make a sound decision whether to hire this potential employee or not.
Protect your business, your employees and family by hiring a background check company like www.thescreeningsource.com We will provide a reliable and affordable pre-employment screening service to help build your top quality team while creating a safe and result oriented work environment.
For more information and advice regarding our background screening process:
Contact Us Today! 860-591-5225