
At Management 2000 we are always looking for solutions to help you run your business more efficiently and increase your profits.
Recently we have been doing an analysis of turnover for a client that has uncovered several opportunities to save money and time. The key findings were that over 60% of termed employees for the year termed before completing 6 months of service, the positions that made up the majority of the terms was identified and it was identified that over 70% of the terms were involuntary.
From this we were able to provide several solutions, a couple of examples are below:
- Lengthen the waiting period for employee medical benefits, this is a dollar and time savings (benefits premiums and time devoted to enrollment meetings).
- Review the interview/hiring and training process to help reduce the high turnover and consequently reduce the SUTA rate.
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