Retailers have long struggled with high attrition rates and the constant burden of hiring and assimilating new employees. Many in the industry have acknowledged an average cost of $2,500 per employee to onboard a new hire and to get them to a productive status. In our analysis of a Theatro client, annual hiring is in the 6,000-employee range, which would put the onboarding cost in the range of $15 million dollars on an annualized basis.
Retailers are challenged with finding a solution to engage employees early in their onboarding process, with the goal to reduce the attrition costs and improve retention rates over time. In this pursuit, Theatro can play a unique and key role. The ability of Theatro to provide on-demand notifications and follow up instruction to initial training creates greater engagement and associate connectedness to employers.
DownloadHCO Case Study and learn how this retailer leveraged Theatro’s solution to drive a $1.3m improvement by reducing training costs and $3.3m incremental sales due to repurposed labor.