Every time your company experiences a false start, rework is required to recruit and train the replacement hire. Put another way, rework doubles the cost of on-boarding for each false start.
Rework doubles time, dollars and effort to achieve proficiency
The False Start Waste and Rework ROI Calculator allows you to play with your own data or experiment with a hypothetical example of how this doubling-effect would look at a company with 100 false starts annually. Feel free to input your own data, too. The numbers may surprise you.
As you can see, rework is a hard cost that’s interrelated with false starts. So the recommendations discussed in the previous article, Staffing Waste: False Starts, would also be applicable for developing ways to reduce waste due to staffing rework.
In a recent client project for staffing process improvement in call centers and retail financial services, the use the Virtual Job Tryout for pre-employment testing reduced rework from 90-day new hire turnover by over 50%. In one position alone, the documented first-year savings from higher retention exceeded $1.7 M. This high ROI project used HR analytics to identify candidate evaluation data with a correlation to career stability and job-fit.
Reducing staffing waste and rework can have a dramatic impact on the bottom line.