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.
Download HCO 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.