Southeastern Virginia Training Center
Read more about how C-Suite Analytics helped drastically decrease the turnover rate of SEVTC right here.
“Our turnover was as high as 43.8%,…but our leaders had no idea how much turnover was costing us. C-Suite Analytics provided our cost of turnover which got this budgeted because of its impact on our bottom line.” – Jackie Spiker, MSHRM, SPHR, SHRM-SCP
RESULTS
• In 2017 turnover rate was 43.8%, as of December 30, 2018, turnover is 12.2%
• In 2017 Hired 145 / Lost 134, as of December 30, 2018, Hired 47 / Lost 36
• Dollar savings using SHRM-accepted average cost of turnover of $4,129.00 went from $553,286 in 2017 to $140,386 in 2018 for an overall reduction of $412,900 directly to the bottom line
• Overall turnover year-over-year is 29 employees, or 9.8% compared to 84 employees, or 28.8% the year implemented
• Terminations are also down almost 75% year-over-year from 30 when implemented, to eight for 2018
• Hiring needs are down and pressure on HR staff is significantly less allowing focus to be on development
• Communication has greatly improved between supervisors and employees
• Employees are encouraged to ask for and schedule their Stay Interview through newsletter and internal
communications
• All levels are communicating better and goals are now shared across departments and when reporting to leadership
• Deeper understanding at all levels of the cost of turnover and keeping people longer
• Overall turnover year-over-year is 29 employees, or 9.8% compared to 84 employees, or 28.8% the year implemented
• Terminations are also down almost 75% year-over-year from 30 when implemented, to eight for 2018
• Hiring needs are down and pressure on HR staff is significantly less allowing focus to be on development
• Communication has greatly improved between supervisors and employees
• Employees are encouraged to ask for and schedule their Stay Interview through newsletter and internal
communications
• All levels are communicating better and goals are now shared across departments and when reporting to leadership
• Deeper understanding at all levels of the cost of turnover and keeping people longer
https://c-suiteanalytics.com/wp-content/uploads/2019/05/CSA_CaseStudy_SEVTC_FINALs.pdf