| Annual savings to be realised through working with Simple HR | ||
| Potential Annual Benefits to be realised | ||
| Equivalent number of employees | ||
| Benefit as a percentage of your annual salary bill | ||
| Without Simple HR | With Simple HR | Annual Savings | ||
|---|---|---|---|---|
| Staff retention and recruitment | ||||
| Average rate of staff turnover 1 | ||||
| Average Salary 2 | ||||
| Head Count | ||||
| Recruitment costs 3 | ||||
| Staff Performance | ||||
| Increase in average performance | ||||
| Absence Management | ||||
| Average rate of employee absence 4 | ||||
| Cost of employee absence | ||||
Sources
- The UK averate rate of employee turnover is 15.7% according to the CIPD 2009 survey of Recruitment, Rentention and Turnover. Visit www.cipd.co.uk
- £28,695 Office for National Statistics reported by BBC December 2008, excluding NI benefits etc
- The costs of recruitment of each new employee include recruitment agency fees, the costs management time, induction, training, and the cost of reduced productivity during the recruitment process and the initial period of employment. On average, these can equate to the cost of the first annual salary. Source: Marcus Buckingham Author of Stregnths finder and Emeritus Director of Gallop Europe
- Source: Personnel Today – UK absence rates and costs, May 2009