40% is often considered to be the average annual turnover in customer service departments. No wonder customer service managers are stressed over cutting other costs to offset high - and frequent - staffing costs.
So, on average, what is the cost of a bad hire that swiftly exits their job? Our employee turnover calculator provides an accurate answer - and shows the magnitude of this issue. Simply fill in the blanks to the best of your knowledge, and crunch the numbers:
Avoiding the high cost of turnover
Customer service departments have particularly high turnover, so it's imperative to do everything possible to avoid the associated high costs by hiring the best-fitting workforce. This may require you to carefully source candidates from primary and secondary channels, conduct thorough in-person interviews, and pay close attention to previous experience.
And when you consider the following stats from RightNow's Customer Experience Impact Report, you see just how valuable - and often taken for granted - your staff can be:
- 86% of consumers will pay up to 25% more for a better customer experience.
- 89% do business with a competitor following a poor customer service experience.
It is not only important to make the right hire, but to create a positive culture, provide training and reward your team. That way, you're more likely to retain your employees and clients!