New Employees are the driver for your business growth but getting them invested in the business early is critical to reduce no shows and also to start the on-boarding process early.
Bottom-Line – Engaging employees before their first day on the job could be the solution.
New starter no-shows happen and the result is a whole lot of frustration, never mind the cost of replacing the new hire (and for recruiters, loss of commission). According to research from Oxford Economics and income protection providers Unum, the average cost to replace an employee is £30,614, costing British businesses more than £4.13 billion each year1. This means it costs more to lose a single employee than it does to pay the £27,000 average annual salary of full-time workers in the U.K.2 These figures include not only the costs related to replacing an employee (time spent searching, recruitment agency fees, advertising fees) but also productivity lost during the replacement process, as well as training new employees. U.K. businesses average a 15% turnover rate across industries, with retail, catering, call centres, construction and media facing some of the highest rates. >>More