Your Employee Training Program is
Costing You Up to $593,310 or More Every Year!
That number is probably making you a little you sick. Most of our clients start hyperventilating when the reality of that number sets in. It's completely normal. At first, we were pretty shocked by it too. The CDC reports that some hospices have as much as 75% employee turnover each year!
Think about what that means to your hospice in terms of substandard patient care, lost profits, missed opportunities, and untapped potential. In fact, just take a moment and let that sink in.
Once you've caught your breath after learning your Employee Training Program may be costing you over half a million dollars every year, the first thing that comes to mind is:
What do I do now?
There has to be a better way to reduce the amount of employee turnover - to stop paying to train new employees and retain the best employees.
Just imagine... what would it mean to your business if you could recruit, keep, and train the best employees? What would you be able to do that you are currently missing out on, because you are too busy working in your business to actually start working on your business?
THE BAD NEWS IS
There is nothing you can do to change the past. All the money you left behind is gone forever.
THE GOOD NEWS IS
Now that you know about what your training program (or lack of a cohesive program) is costing you, there is something you can do about it... something that can add significant money back into your business each and every year.
Beverly L. Kaye and Sharon Jordan-Evans, the authors of, Love 'Em or Lose 'Em: Getting Good People to Stay surveyed 12,000 people. They asked them why they kept working for a company. The top three responses had ABSOLUTELY NOTHING TO DO WITH COMPENSATION.
The top answers were all about the intangibles. Their research suggests the three main reasons why people stay in an organization are:
They proved that People are begging to be trained, inspired, and directed. Your employees want to feel like they are contributing to the success of your hospice (not just a necessary --but replaceable—cog in the wheel).
Think about how much more engaged and productive your employees would be if they had the right type of training that teaches them to focus on increasing your hospice's top and bottom line. How would your patients and their families react to your energized and empowered employees? Imagine how much more effective your hospice would be if everyone shared your vision for success.
Ultimately, it all comes down to a simple question:
What would an extra $593,310* per year mean to you and your business?
It's time you found out.
*Based on the industry average of 30 employees per hospice, a reduction of 50% of the industry average of 50% annual employee turnover, and 150% employee replacement cost. (http://www1.salary.com/Staff-Nurse-RN-Hospice-Salary.html)
