New Research Finds Visier Customers Reduce Manager Turnover by 17%
Report finds Visier customers experience millions in cost savings through both manager and overall turnover reductions
VANCOUVER, BC and SAN FRANCISCO– July 11, 2019 — Visier, the globally recognized leader in people analytics and planning, today released a new research report analyzing Visier customers and their experienced workforce turnover reductions. The report found that not only have Visier customers beat the market in retaining talent overall by 3.5%, but they had experienced a reduction in manager turnover by a combined 17%, resulting in millions of dollars of cost savings.
The cost of manager turnover is significant and includes not only the direct costs to hire replacements, but also the lost productivity while new managers are coming up to speed, as well as the lost revenue or impact on profit while a position is vacant. Taking into consideration these costs, the report found organizations with approximately 10,000 employees, and a hypothetical average overall turnover rate of 15%, will achieve over $4.5 Million dollars in savings as a result of retaining more managers thanks to interventions developed as the result of insights from Visier.
“Turnover, especially from a manager level or above, can be a significant expense for organizations of all sizes,” said John Schwarz, CEO of Visier. “What this report shows is that Visier customers have been successful in identifying specific at risk employee populations, and implementing strategies to retain and develop that talent rather than see it disappear. In a job market with historic low unemployment rates, retaining top talent is critical to the competitive success of an organization.”
Visier compiled the report using anonymized customer data, which included more than 20 enterprise companies representing over 600,000 employees. Companies included in this report represent a wide range of industries, including Healthcare, Technology, Retail, Wholesale, Transportation, Warehousing, Utilities, Financial Services and Insurance, Energy and Manufacturing.
The full report can be found here.
Visier’s purpose is to help people see the truth and create a better future—now.
Visier was founded to focus on what matters to business people: answering the right questions, even the ones a person might not know to ask. Questions that shape business strategy, provide the impetus for taking action, and drive better business results.
Visier delivers fast, clear people insight by using all the available people data—regardless of source. With best-practice expertise built-in, decision-makers can confidently take action. Thanks to our amazing customers, Visier is the market leader in Workforce Analytics with 5,000 customers in 75 countries around the world.
For more information, visit http://www.visier.com.
# # #