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The cost of high staff turnover

With confirmed reports of turnover levels as high as 70% in many dealerships and conservative estimates putting the cost of high staff turnover in UK dealerships at anywhere between £300m and £500m, this is a hot topic. These estimates include the direct cost to dealers of recruitment, immediate loss of sales, management time and training but do not include the hidden impact on customer loyalty.

Industry consultants and IMI approved training centre, rts, with the full endorsement and support of the IMI have conducted detailed research with 5 major dealer groups comprising over 50 dealers, over 2000 employees across 17 franchises. The aim is to identify strategies to increase staff retention and thereby increase dealer profits. The first results and conclusions from the rts survey will be shared at a seminar entitled “Keeping Your People and Profit”, hosted by the IMI at its headquarters, near Hertford, on 10 June 2005.

Sarah Sillars, Chief Executive, IMI, commented: “This is a major issue and one in which the IMI is keen to find and share solutions in its role as the professional association for industry individuals. Our Keynote Speaker will present a strategic perspective on the challenges faced by the sector.”

Senior Executives from groups and manufacturers wishing to attend should contact Suzanne Barsby at the IMI, contact details  suzanneb@motor.org.uk or telephone 01992 511521