Reducing Producer Turnover

Agents:     representatives  
The number of representatives in your sales force.

Hires:     new hires  
The number of producers your company will hire this year.

Annual turnover rate:     %  
The percentage of your workforce that currently leaves each year.

Average time to fill:     weeks  
The average number of weeks required to fill a vacant position.

Value of performance:   $ annually  
The average annual value of a producer. This amount is typically 2 – 2.5 times annual earnings.

Hiring Cost:   $ per hire  
The average costs associated with hiring a producer, including time spent by recruiters and managers sourcing and screening candidates, the time and costs of training new hires, new-hire orientation, opportunity costs, etc.

Assessment Cost:   $ per candidate  
The increased cost per candidate from the use of screening or employment tests.

Selection ratio:     :1  
The number of candidates you typically assess/review to get one hire.

Turnover Reduction:     %  
The decrease in turnover that will result from the use of assessment tools.