The Bureau of Labor Statistics reports that employee compensation (payroll and benefits) accounts for more than 70% of all business expenses.
As big as that number is, it’s just as important to remember your other hiring cost: Time.
- The average employee spends 32 hours per year on training
- It can take 6 months before a new employee reaches full productivity
- The entire interview process takes an average of 24 days.
That’s a lot of time you aren’t spending growing your bottom line.
How Can a PEO Help Me?
Professional employer organizations (PEOs) like GMS offer guidance and manage the administrative burdens associated with all aspects of the employee life cycle. You retain full control over hiring decisions, we just make those decisions easier for you.
Recruiting with a PEO will save you time. Glassdoor.com found that the average interview process in the U.S. is now 22.9 days, nearly double the 12.6 days in 2010. How much time do you spend creating a job ad? How about posting the ad and going through resumes? GMS will do all of that for you. We can do all of the legwork before an actual interview is conducted so you can spend your time focusing on your business.
Businesses that recruit with GMS will get access to an Applicant Tracking System. GMS uses a system that tracks every part of the hiring process. Have you ever wanted to know where all of your candidates are coming from? What about how long the process takes? GMS can report back numbers like this to help you streamline the recruiting process.
GMS has a partnership with Indeed – by partnering with GMS, you will also get many of the benefits that Indeed has to offer. Indeed is one of the leading job boards in the country. According to SilkRoad, Indeed delivered 65% of all hires made in the United States from online sources in 2016.
Even the best employees aren’t as likely to succeed if they don’t have proper training. We offer online employee training programs targeted to your employees’ specific job functions.
Attracting quality employees is one thing. Keeping them is another.
The average cost of employee turnover is 21% of the employee’s annual salary. GMS can help you retain employees – and limit turnover costs – by consulting with you on:
- Team building activities
- Rewards programs
- Survey tools
- Suggestion systems
Contact us today at 330-659-0100 or visit our FAQ page to learn more about how our employee training and recruitment services can make your business stronger.