US health insurer WellPoint has identified massive areas for saving through analysis of staff turnover. It had suffered over 30% turnover of new hires in service operations within their first year. Typically, employees departing after less than a year had not generated productivity gains to offset the cost of hiring and induction.

The HR team investigated the potential reasons by looking at their data. They identified two specific job families and several geographic regions where turnover of new hires was particularly high. Armed with the data, they developed a retention strategy that saw 13.5% improvement in the first year of voluntary turnover rates. For years 2007/2008 this yielded a USD$6m saving.

The case study is similar to the one produced by the Human Capital Forum, in which the UK division of facilities management giant ISS saved around £250,000 by identifying that new recruits hired by existing members of staff were higher performing and tended to stay longer. It boosted its employee referral incentive scheme as part of the programme.

About Infohrm

Infohrm is the global leader in workforce planning, reporting and analytic solutions. With over 25 years of experience, and a strong customer base that includes Starbucks, Nokia, National Grid, McGraw-Hill and Time Warner, Infohrm is changing the way that organisations measure the impact of their human capital. The Infohrm solution couple on-demand software with strategic consulting and HR professional development services designed to improve the quality of data driven decision making.

These case studies are examples of recent projects that Inform has conducted with some of its global clients that they work with on an ongoing basis to provide workforce insight.

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