Falsified Applications: Statistics
In a survey of 501 executives by Ward Howell International, Inc., an executive
search firm, 17% said their new hires had misrepresented job qualifications and
9% had inflated their salaries.
Source: Wall Street Journal
The Costs of Mishiring
Hiring the wrong entry-level person costs between $5,000 and $7,000 after three
months. Mishiring a $20,000 per year supervisor costs about $40,000. Mishiring a
$100,000 per year manager costs the employer about $300,000. These losses are
based on wasted salary, benefits, severance pay, headhunter fees, training costs
and hiring time.
Source: U. S. Department of Labor
Factors Contributing to Unscheduled Time Off Work
A number of other factors, besides personal illness, account for employees
taking unscheduled time off from work according to a poll of 574 HR executives.
Reasons for unscheduled absences include: Personal Illness, 28%; Family Issues,
26%; Personal Needs, 20%; Entitlement Mentality, 15%; Stress, 11%.
Source: HR Executive Magazine
Turnover Costs Employers $300 – $4,90l per Employee
The costs to hire replacements, including relocation expenses and agency fees,
differ among the industries with the highest cost in engineering at $4,901 per
employee and the lowest in assembly line factories at $300 per employee. The
voluntary turnover rate is lowest among computer programmers who cost $2,500 per
employee to replace.
Source: Journal of Accountancy
Violence in the Workplace Costs Employers More Than $55 Million Annually
The Bureau of Justice Statistics’ National Crime Victimization Survey reveals
that nearly 1 million people become victims of workplace violence every year.
Violence at work accounts for approximately 15% of all violent acts experienced
annually in the US. In terms of lost wages and missed workdays, such crimes cost
employers and workers more than $55 million.
Source: American Society for Industrial Security
Median Cost Per Hire Ranges Between $550.00 and $20,000.00
Companies of all sizes report that the cost per hire ranges from $550.00 and
$20,000.00 depending on the job category.
Source: AON Consulting
Drug Users are Absent 3.3 Times More Than Other Employees
A drug user is absent 3.3 times more than a non-user.
Source: National Institute of Drug Abuse
Annual Turnover Costs U.S. Companies $1 Billion
Employee turnover and retraining costs amount to $1 billion annually.
Source: HR Magazine
Annual Shrink Costs the Average Supermarket $169,000 Annually
Cost of shrinkage for the average independently owned supermarket is $169,320
annually.
Source: National Supermarket Research Group
$45.4 Million Recovered from Dishonest Employees
In a survey covering 9,941 retail stores and representing $221 billion in sales,
more than $45.4 million was recovered from dishonest employees in 1996, an
increase of 22.8% over the $35 million recovered in 1995.
Source: Ninth Annual Retail Theft Survey
Training Costs Skyrocket
In 1995, employers spent $55.3 billion on training (almost twice the $30 billion
invested in 1983). 65% of employers said that the percentage of employees
receiving formal training has increased over the past 3 years. 70% of them say
that more has been spent in the same time frame. 89% of companies expect
training investment to remain the same or increase over the next three years.
Source: HR Magazine
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