Estimating the cost of employee turnover seems to vary by wage and role of employee. For example, a CAP study found average costs to replace an employee are:
16% of annual salary for high-turnover, low-paying jobs (earning under $30,000 a year).
For example, the cost to replace a $10/hour retail employee would be $3,328.
20% of annual salary for mid-range positions (earning $30,000 to $50,000 a year).
For example, the cost to replace a $40k manager would be $8,000.
Clarity’s® Performance Monitoring Tools Help New Employees Succeed and Existing Staff Gain Recognition
Clarity’s® Performance Monitoring tools can help ensure your employees maximize learning effectiveness by using Call Monitoring and Call Recording features to help fine-tune your training, we’ll help you make your training and development, and resulting exceptional customer service experiences, a point of pride for your business.
New employees want to succeed and existing employees like to be recognized for the quality service they provide. Adding Clarity’s® Performance Monitoring tools such as Call Recording, Listen-In, Whisper, or Join helps you hear both sides of your customer conversations, in real-time or afterward.
Depending On Your Business Model, TeleWork May Also Help Reduce Turnover
A shift in workforce demographics and priorities — are the main reasons the U.S. has seen a threefold increase in telecommuting during the past 20 years, experts say.
But being able to work from home one or more days a week appeals to workers of all ages, according to the Society for Human Resource Management’s (SHRM’s) 2016 Employee Benefits research report.
“Research shows that telework rose nationwide from 20 percent in 1996 to 60 percent in 2016.”
For those companies concerned about teleworkers satisfactorily completing their assignments, experts say managers can do a number of things to make sure remote employees are doing the jobs they’ve been hired to do.
Tips for Managers:
- Have Standards: Make sure your team is familiar with all your company call handling standards.
- Call Criteria/Checklist: Create objective criteria on which they’ll be evaluated and coached when handling calls.
- Monitor calls often in order to collect meaningful data, evaluate the calls against the criteria you set, and share the results with your team one-on-one. If there’s opportunity to praise how they handled a call, do so in a team meeting.
- Coach team members consistently and make sure they understand what it means to perform above average for both themselves and the company.
- Allow team members to provide feedback on thoughts and ideas they feel will help with improving customer call handling or sales appointment setting criteria.
Receive a private consultation to see first-hand why managers and employees alike love using Clarity Voice®