HRMetricsPro by Retensa

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:

• What are our total recruitment costs - we've had a hard time really getting our arms around that entire functional area? And, just why they are that high - what factors contribute most to that total? What are some of my options for lowering our costs in this area?
• Am I getting "bang for my buck" from the various channels we use to locate and hire new talent? Should we re-allocate our budget and our people with regard to the different channels we've been using - like online job boards, headhunters, job fairs, etc.? What impact would these options have?
• I often think our HR work processes could be more efficient, especially around on-boarding and separations - will HRMetricsPro help me discover where these processes are most in need of being improved and give me ideas on how to do so?
• What's my differential ROI between the HiPer's and LoPer's? How do my employee costs, and ROI in my talent, differ between salespeople and the rest of our workforce? How do they differ across divisions, departments, and business units? Will HRMetricsPro provide answers to such questions?
• How do you suggest I best use data and graphs from HRMetricsPro about our employee costs to impact the company's business strategy or its operations? We want HR to "have a seat at the table" - to enhance its role in the company as an initiator of change. Just how can HR metrics from HRMetricsPro establish greater credibility for HR?
• My senior management has asked me for a "state of the workforce" report with hard numbers - I've been putting them off, as I'm not sure how to use the data we have and get the data we don't have. How could HRMetricsPro help me meet this type of request and make HR a strategic partner?

Technology Transportation Expediting

Challenge

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's Solution

"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."

Sperry Federal Credit Union

Challenge

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.

Retensa's Solution

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%.

MetroPlus Health Care

Challenge

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?

Retensa's Solution

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.