"The High Costs of Employee Turnover."

Got an interesting email today from TJ Schier, a consultant to the restaurant industry. He's come up with a very clever spin on calculating the cost of employee turnover in the restaurant industry. He's calling it, "Turnover Freedom Day."

Here's the jist of what he said...

Training new employees is expensive! Estimates range from $500 - $2,300 per (McDonald's spends $1,600). Costs include; recruiting and hiring replacements, training time, trainer time, lost productivity, uniform costs, etc.

Based on an industry average turnover of 200%, a 30-employee restaurant grossing $800,000 a year, averaging 10% profits could be working up to May 17th just to cover yearly turnover costs. And that's at only $500 training costs/employee.

That should be enough to convince anyone (outside of the CFO, who already knows) of the value of effective training designed to assist in employee rentention.

If you'd like a copy of TJ's article, you can write him here: eletter@qsrmagazine.com
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If you'd like to try the best solution to "faster train and longer retain your valued Latino employees," write me: craig.evans@tvtrainer.tv