One of the biggest challenges for many small to mid-sized businesses is being able to retain top talent.
Employee turnover is time-consuming and costly, but UniqueHR’s PEO services can help with retention and reduce some of those costs.
THE COST
Turnover rate varies by industry, but the US average comes in at 18%, with a significant spike coming in April of 2021 as nearly 4 million people voluntarily left their jobs in that month alone.
With that loss came many indirect costs, most stemming from productivity issues. When factoring in the cost of termination, replacement, vacancy costs, and productivity loss, the average cost to replace an employee is about 33% of said employee’s annual pay.
HOW UniqueHR CAN HELP RETAIN EMPLOYEES
Human Resources: When it comes to a work atmosphere, structure and fit are essential. Our HR professionals offer assistance in developing employee handbooks and procedures. Thye can also help with recruitment consultations, on-site and online human resource training programs, and consultations on employee-related issues.
Finding the right fit for your organization, a dependable HR structure, and effective employee communication improves morale and employee satisfaction.
Offer more: Higher pay and flexible schedules are just some of the perks employees might enjoy about their jobs, but sometimes that isn’t enough. Good benefits also go a long way toward keeping employees satisfied and ensuring retention. When partnered with UniqueHR, smaller companies may be able to offer higher-end benefits such as 401(k) plans, health insurance, and ancillary insurance.
Less wasted time: UniqueHR alleviates many of the administrative burdens of HR. We can save our clients valuable time, allowing them to enjoy increased productivity and the time to focus on profitability.
UniqueHR IS PROVEN
While businesses saw numerous employees walk away from their jobs over the past two years, PEO clients have been able to weather those storms, showing a 10 to 14% decrease in turnover rates.
It’s one of the reasons why UniqueHR has a 92% client retention rate.
