Employee turnover is one of the most substantial costs for companies throughout the world. Pre-employment screening can help ensure a more honest workforce and reduce employee turnover.
When hiring a new employee, there are many crucial factors to consider. A criminal record may be considered when seeking employment. Without evidence to suggest an individual has been deceptive, how can an employer protect its organization? Many organizations are threatened by dishonest employees.
What It Costs A Company To Fire Someone
When an employee is fired from an organization, there are tangible costs associated with the loss. Costs include hiring and training replacement employees as well as slowed productivity when a new hire comes on and needs to catch up to be on pace with the previous production of the employee.
Research conducted by Boushey and Glynn found that on average, to replace an employee will cost a company the equivalent of one-fifth of that employee’s annual salary, despite the range of salary. The more specified the job, the higher the turnover costs.
Pre-Employment Screening Reduces Turnover
Turnover for any reason is an issue, especially considering that one-fifth of employees nationwide quit their jobs and another one-sixth of employees are let go or fired. Outside of the U.S., combatting the costs of turnover can be easily remided through pre-employment screening.
EyeDetect, an alternative to a polygraph exam, helps organizations screen employees. With this innovative technology, employers can screen potential employees in a safe, ethical, and unbiased fashion, saving future costs of terminating and replacing dishonest employees.
Photo by / Ryoji Iwata