Within a year, employers lose nearly one-quarter of new hires while another one-third don't satisfy productivity targets, according to Allied Van Lines' 2012 Allied Workforce Mobility Survey.
Of the 500 human resources professionals who were surveyed, they say this is because of internal variables that impact retention success, such as underfunded onboarding programs or no available training programs. This retention problem is financially hurting employers as the average cost to fill one position is $10,731. Another $21,033 is necessary per new hire for relocation.
Onboarding also is costing employers with the average respondent spending $99,191 per year, totaling to approximately $67 for each new employee. For best-in-class employees, employers are spending even more at about $178,868 per year.
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