New research shows that 22% of new recruits leave companies within the first six months of them starting. This high turnover is thought to be costing the UK employers market £69m per year. This statistic means firms are paying recruitment costs on these hires twice in a year.
Cost per hire can be reduced by hiring direct and only 25% of businesses use job boards to hire. It may also benefit firms to hire on a temp to perm basis. This would reduce the potential turnover considerably!
Travelodge has announced a massive expansion plan. It plans to open 22 new hotels across the country between now and Christmas.
It will create £125 million of new investment and 450 new jobs during this period. The new hotel sites inculde Cardiff, Edinburgh, Blacpool, Stratford-upon-Avon and locations near Heathrow and the Tower of London.
Travelodge has also gone into partnership with supermarket Aldi to develop hybrid retail-hotel developments with rooms above stores. These will be located in Middlesbrough and Newquay.
