What Businesses Can Learn from Retailers to Reduce Costs by Holistically Viewing the Employee Lifecycle
Companies across all industries spend thousands of dollars when it comes to recruitment, benefits, and other elements of the employee experience. Retailers in particular spend thousands of dollars per hire to recruit and train front-line employees in a sector with famously high turnover. But there are opportunities to lay a foundation for reduced turnover at every stage of the employee lifecycle, including before, during, and after employment. What we’ve learned from retailers it that by streamlining recruiting, providing a positive employment experience, and inspiring loyalty among alumni, businesses can reduce the costs associated with high turnover—and maybe even turnover itself.