Sky-High Turnover Rates
It is no secret that the private security industry faces an uphill battle when it comes to reducing security guard turnover. All types of organizations experience turnover, however rates of turnover for private security companies range between 100% – 400%. The typical “healthy” turnover rate is only 15%. That means that security companies face an enormous challenge to simply staff their business.
With such a high rate of rotating employees, the costs related to turnover are extremely important. There are financial costs, such as the costs related to interviewing, training, and on-boarding new employees, as well as harder to measure operational costs. In total, these costs can range from 30% to 400% of the replaced employee’s salary.
Why is Security Guard Turnover So High?
The most frequently cited reason that guards give is low compensation. Unfortunately, private security companies find it difficult to counteract this problem, as it is challenging to stay competitive and maintain already tight margins. Closely tied with low compensation, low hours and poor scheduling are often also named as reasons of security guard turnover. These employees commonly state that if they were scheduled for more hours, they would be less likely to seek alternative work.
What Can You Do?
Provide employees and managers with the tools to efficiently create and manage a comprehensive schedule. With an advanced scheduling solution, you can do just that.
How can advanced scheduling help?
- Advanced scheduling by Celayix means your employees can submit detailed availability and time-off requests online. Thus, schedules are built upon when guards are available, and they are not scheduled to work when they don’t want to.
- Advanced scheduling also means that employee’s schedules can be built with hour requirements in mind. Therefore, full-time employees who want more hours will receive them.
- Detailed reporting can provide “what if scenarios”, so you know when to hire more staff.
For more information on turnover and retention, watch “5 Ways to Increase Retention and Reduce Turnover Costs”