Is there a way to calculate ROI or how much I can save from using Prevue Assessments?

Bad hiring decisions are some of the most expensive mistakes you can make. According to the U.S. Department of Labor, the average cost of a bad hire equals 30% of an employee’s annual salary. To get an idea of how much you can save with Prevue Assessments, let’s take a look at an example.

A local business with 250 employees making an average of $35,000 per year has 55% turnover. The average cost to replace each bad hire is $10,500. Every year, they have to replace about 138 employees for a total cost of $1,449,000. This is where Prevue steps in. Based on our client data, our assessments have the capability to reduce turnover by 35%. The total cost of turnover is then reduced to 945,000. In other words, you’re saving the company $504,000 annually.

Want to find an ROI that speaks to your company’s stats? Use the formula (# of employees) x (cost to replace each bad hire) x (turnover before – turnover after using Prevue)