Did you know that according to the National Restaurant Association the turnover rate in the restaurant industry is 72%, and Black Box Intelligence reports 110%. Yes, one hundred and ten percent! If that wasn’t scary enough, the industry estimate for the replacement cost for an hourly employee is $5,000 per employee or 20%-30% of an entry level salary. So if you employ 50 people at your restaurant you’re incurring $180,000-$275,000 in annual replacement costs.
Do we have your attention? Now let us offer a solution. Enter Compeat Hire, Compeat’s cloud-based applicant tracking, assessment and onboarding software.
Compeat Hire provides you with the tools to reduce turnover by enabling you to hire the right employees right off the bat. Some of these tools include:
- Custom Online Applications
- Built in Offer System
- Background Checks
- E-Verify Validation
- Tools to Stay Compliant
- Applicant Assessments
Applicant assessments to screen for culture-fit characteristics ensure candidates will be successful and happy in their role. According to Compeat’s strategic partner, Corvirtus, a leading provider of assessments for the restaurant industry, proper assessments can reduce employee turnover by 58%, which can save your restaurant operation over $100,000 per location. On top of that, hiring employees that are a good fit for your operation has been proven to increase employee happiness in the workplace tremendously. Studies have shown that assessing and hiring right can increase employee loyalty by 200%.
Happy and efficient employees can also save managers time. And time savings for your managers are a contributor to your managers’ and restaurants’ success. Compeat Hire talent matches candidates who passed the assessments so managers aren’t spending time reviewing unqualified prospects. This decreases the time to fill a position and allows managers more time to be out on the floor ensuring customer satisfaction.
“The restaurant managers love the system because they are able to save at least ½ hour of time for each new hire.” says Wendy Copley, from Modern Market.