CareerCare

Catalyst Learning About Us SAW ECHO CareerCare Careers

Return on Investment (ROI) Study

Financial decision-making is just one element of evaluating a tool like CareerCare, but in today’s economic climate, a positive RoI is critical. Catalyst Learning works closely with customers to help them quantify the value of employee development. Annual research has focused on issues such as the cost of turnover, employee engagement, and upward mobility; all factors that impact the bottom line.

View a full report of Catalyst Learning’s 2008 research.

CareerCare impacts:

Education/HR/Workforce labor costs. Employee interest in exploring alternative careers within their facility is growing dramatically. This creates a challenge to human resources professionals, as these employees require an extensive amount of time for one-on-one advising and mentoring. An individual CareerCare license pays for itself with just 3-4 hours saved in your coaching time.
Investments in Job Shadowing. Time is of the essence, and the opportunity to save the time of technical clinicians and others by providing a resource that gives interested employees a realistic view of these roles saves the hospital significant time and money. CareerCare videos on more than 125 hospital jobs allow your employee to quickly eliminate jobs he/she is not interested in.
Retention. Research from Gallup, Press-Gainey, and others proves that employees are more likely to stay with organizations that provide growth and development. CareerCare is a low-cost tool that lets employees know that you care about them. Catalyst Learning’s research estimates that the average cost of support employee turnover is $5,350; clerical $6,600; allied clinical $15,000. Avoiding just one of these creates a positive ROI.

Jim Brookhart

“Presenting the business case for School at Work to our senior leadership was simple--in a tight labor market, it makes good business sense to invest in our Co-workers. SAW enhances the Mercy values of Dignity, Justice and Stewardship; it increases retention and rewards loyalty. SAW promotes diversity and positions St. John’s Health System as an Employer of Choice.”

Jim Brookhart
Vice President of Human Resources, St. John’s Health System
Springfield, MO

Since 2004, Catalyst Learning has conducted research that helps customers quantify their employee development investment. The first study focused on the cost of turnover for clinical and support staff. Turnover cost estimates for the non-nursing employees below were adjusted for inflation in 2008 using the Consumer Price Index and feedback from CLC customers.

Hard dollar cost of turnover includes:

Exit interviews conducting or outsourcing
Separation processing (administrative issues - filling out forms and retrieving equipment)
Severance pay when applicable
Overtime to cover vacant positions
Agency staffing fees when used to cover for unfilled positions
Recruiting costs (advertising, staffing job fairs)
Pre-employment costs (background checks, drug testing)
New hire expenses (travel, uniforms, moving expenses)
Training costs (time spent by trainees and trainers and/or outsourced training costs)
Training program costs (materials, software, development costs)
Time required for new employees to reach 100% productivity