If you're like many HR executives, there are a host of tough questions about employee costs and the HR function that have been on your wish list to get answers to - and now, Retensa's HRMetricsPro can help you find answers to questions like these:
Technology Transportation Expediting
At Technology Transportation Expediting, VP Kell Scruggs comments, "we were finding it harder and harder to attract, and retain, our best drivers - making it hard to keep our shipping commitments to customers. Driver turnover was approaching 67%, and finding and training competent new drivers was becoming more and more expensive."
"Retensa showed us exactly just how costly it was for us to advertise, interview, hire, and train new drivers each month - it all added up to a huge expense. Their analysis enabled us to see this information about the total cost of turnover as an opportunity not just to save money and improve the image of our company, but as a way to stabilize our workforce by motivating and developing our drivers. Retensa helped us cut driver turnover from 67% down to 16%, which allowed us to reduce our total turnover costs $4,000 to $5,000 per employee - and meet our customers' needs more easily."Schedule A Callback
Sperry Federal Credit Union
Sperry Federal Credit Union, a financial institution established in 1936 with offices across the nation, had grown to serve over 17,000 members from more than two hundred companies. In fact, after 6 straight years of double-digit growth, Sperry employees felt they were under more pressure than ever before, with larger numbers of new employees needing to be hired, on-boarded, and trained. This growth had created a stressful situation, resulting in employees becoming frustrated with their work, lowered job satisfaction and morale, and greatly increased turnover.
Working with Retensa, Sperry decided to upgrade its processes for attracting, developing, and retaining top talent. They wanted to be both an employer of choice and to create a workforce that routinely functioned at peak level, in the process cutting out hundreds of thousands of dollars of inefficient HR activities. Turnover was reduced from 24% to 6.6%, cutting total turnover costs by more than 40%.Schedule A Callback
MetroPlus Health Care
As a leading provider of Health Insurance, managing costs are critical to MetroPlus. With $700 million in revenue under constant pressure from rising expenses and razor-thin margins, knowing where every dollar goes had become a top priority. The organization's rapid growth in recent years added layers of complexity and infrastructure as well as hundreds of employees. To support the growth, the company built additional programs to train and develop new hires and to expand the skill sets of existing staff. Millions of dollars was invested in employee and career development, but the costs of these programs, let alone the ROI, was unclear. Were these programs cost centers? Or were they revenue drivers? How did turnover impact the cost per employee? How high were competitors' turnover rates compared to those of MetroPlus?
To get the answers to these and other critical financial and HR questions, MetroPlus turned to Retensa's HRMetricsPro. MetroPlus needed a clear, accurate, and comprehensive assessment of their employee costs, and Retensa's analysis revealed the total annual cost of turnover to be $14 million - and growing. Since the analysis determined which components were most costly, it enabled MetroPlus to focus on these - especially the recruiting channels that were not producing long-term candidates. They could now re-allocate those funds to the sources that generated the best candidates. MetroPlus also discovered exactly what their true orientation and training costs per hire were. On the basis of this analysis, they now can make accurate forecasts of future costs in these areas, if staff continues to grow. On the other hand, if staff growth slows, they will know by how much to shift resources from on-boarding to other development areas, thereby increasing ROI across the Employee Life Cycle.Schedule A Callback