Hiring and Firing Trivia

Did you know many people lie about their degrees when applying for a job?

Statistics indicate that 3.8 of every 100 employees are fired or resign from their jobs each month. Experts suggest that more than 350,000 workers are terminated unjustly and illegally each year, exposing their employers to hundreds of millions of dollars in potential damages, not including lost manpower costs and bad publicity, and tens of millions of dollars in unnecessary legal fees and expenses. -- Business Week Oct, 2004

Did you know that it can cost $40 million in sales to offset a 20% turnover rate?

To determine what turnover is costing you, let's say your turnover rate is 20%. Let’s assume this 20% gives you an annual turnover rate of twenty people in the sales department. The estimated cost of landing and training a replacement, figuring visible and hidden costs, is $200,000. The cost of $200,000 X 20 sales reps is $4 million in lost profits. If your organization’s profit margin is 10% that means an additional $40 million in sales must be generated to offset this 20% turnover rate! -- Hiring Firing Experts

Main | What We Do | Presentations | Business Opportunity | Certification Test Products | Client List | Testimonials | Hiring Firing Pearls | Resources About | Contact | Site Map

© Copyright 2005-2006. Hiring Firing Experts, Inc. All Rights Reserved.

Web Development by Branding on the Net