Employee Turnover 20%
The average cost of replacing an employee is 20 percent of the person’s annual salary, approximately $10,000 of added costs to an employee with an annual salary of $50,000. ¹
Since 2014, the average hospital has turned over 87.8% of its workforce, a loss of $4.4M-$9.9M a year.
Employee turnover in healthcare is second only to the hospitality industry. ²
The Value of Employee Education
A recent case study shows that Cigna's employee education reimbursement program generated 129% ROI between 2012-2014 in the form of avoided talent management costs. ³
The Need for E-Learning
In a recent survey, one-third of employees indicate their company-provided training is outdated and fails to meet expectations. An online education program can help meet the training needs of today's employees. ⁴
Key Benefits of E-Learning
Healthcare employees can take courses at their own pace.
Company-wide savings in regards to set up, update, and maintenance of courses compared to traditional in-person training.
Interactive and multimedia content to improve employee engagement.
Learn more about how CareerSmart can help.
References
- 1. https://hcrnetwork.com/4-ways-increase-healthcare-employee-retention/, last visited February 2, 2022
- 2. https://www.fond.co/blog/5-ways-healthcare-industrys-turnover/, last visited February 2, 2022
- 3. https://www.cfo.com/corporate-finance/2016/04/cigna-gets-129-roi-tuition-reimbursement-costs/, last visited February 2, 2022
- 4. https://www.lorman.com/blog/post/39-statistics-that-prove-the-value-of-employee-training, last visited February 2, 2022
