How do I avoid the headache and expense of employee turnover?

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Payroll is often one of the largest line items on a company’s income statement. With it comes a significant expense that is often overlooked, namely the cost of employee turnover. According to the Center for American Progress, employee turnover costs typically range anywhere from 16% to 30% of annual salary, depending on the position. Due to specialized training, certifications and a longer onboarding process, the cost to replace a highly-trained staff member could exceed 200% of their compensation.

Numbers like these can really take a toll on the bottom line. That’s why it is critically important to hire right the first time and retain employees.

There are so many steps prior to bringing someone new into an organization. Here are a few typical ones.

• Needs analysis

• Development of job description

• Advertising/posting the position

• Receiving and initial screening of resumes

• Scheduling and conducting interviews

• Assessments

• Reference checks

• Making an offer

• Onboarding

Budgeting the time to accomplish these tasks is an effort in itself and may take a manager away from equally important obligations. JobFinders Employment Services works with companies of all sizes to ensure they are investing in recruiting and retaining employees who will be with them for years, taking care of the steps listed above and more, saving you time and money. Contact JobFinders to learn how to recruit employees who will stay with you.

Meet the Expert

Anne Williams has been the President and Owner of this Missouri-based staffing firm, JobFinders Employment Services, for 34 years. In 1986, Williams opened her first small office, and today, that business has steadily grown into one of Inc. 5000’s list of fastest-growing companies with seven branches.

Williams oversees a team of 27 employees who place candidates in direct-hire, temporary, and trial-to-hire positions.

Williams and the company have been recognized with honors such as “Woman of the Year,” “CEO of the Year,” and in 2012, she was named the United States Small Business Administration’s top “Woman Owned Small Business” in the St. Louis district. JobFinders has been named the Top Company in Columbia, MO and has been awarded Reader’s Choice award in several communities. Williams enjoys spending time in the community, traveling, and hanging out with her family. She is a proud member of the American Staffing Association, National Association of Personnel Services, Missouri Kansas Search and Staffing Association, Society for Human Resource Management National Association and the Springfield, Sedalia, Central Missouri branches and serves as the Chambers of Commerce in each community the company serves.