If you’re looking for a full-service ASO, that can help with employee retention, then Paramount HCM is the best fit for your business.
If employee retention is not part of your business plan, you are losing significant money.
Many studies show that the average company spends about $4,000 to hire a new employee.
The actual cost of turnover, is estimated to be one-third of what the position is paid.
On average, it can take almost two months to fill a position and have a new hire properly trained.
Every employee that you lose costs you money. It cost you money because your clients and customers end up receiving reduced attention and less service.
Losing a good or key employee, is even more costly. What, if anything, are you doing to avoid this?
That is why it is critical for your business to have an employee retention plan.
A successful employee retention program starts with the hiring process.
If you hire the right employee for your business, that employee is more likely to be engaged stay longer and produce better.
The right employee is not just an employee who is qualified, but one that also fits the culture and vision that you have for your business.
Let Paramount HCM help you with a plan to best develop your culture and identify the best talent to foster, grow and succeed in that culture.
Employee retention strategies may include:
Many small business owners are surprised to know that a key to keeping good employees, is getting rid of bad employees. Employees who do their work poorly or who have a bad attitude, or are not engaged in their job, can negatively impact others. As part of your employee retention strategy, it is important to include trial plans, or probationary periods, for new hires, and action plans that lead to termination, if an employee does not meet certain clearly outlined standards of performance and goals.
Let Paramount HCM help you create a better Employee Retention Strategy for your business!
Your business cannot succeed without a good workforce. Let Paramount HCM help you attract, train, develop, and retain quality employees.