High turnover positions can put tremendous strain on the hourly hiring manager required to keep these positions filled. The process of gathering, or pooling, the applicants that did not get hired into a database for potential future hires has recently helped to alleviate this strain. The ideal applicant may have applied to a nearby location, and pooling allows for easy applicant sharing across a region.
Employee turnover is a fact of life, there is simply no way to avoid it. Whether it’s because of poor management, personal issues or just the nature of the work being done, your company will eventually lose employees. Depending on your industry, this unexpected employee loss can be devastating to your business and your bottom line. Creating and maintaining an active applicant pool will help to ease the burden of these unexpected and often unavoidable departures.
Hiring is expensive. The cost of hiring and onboarding an hourly employee can range from $1,500 - $3,000 per employee. On average, most companies lose 20-30% (or more) of their hourly employees every year! Add this all up and your company could be losing millions of dollars each and every year just replacing and training new employees. Applicant Pooling can help reduce the cost of hiring by eliminating the process of soliciting new applicants and reducing the time to hire.