According to Gallup, it costs up to 2X an employee’s annual salary to replace them
Why is that?
Well, by the time you pay for a new job posting, factor in the team time it takes to interview prospects, plus the training and onboarding your eventual new hire, you would have been better off – financially – just keeping the original staff member.
When you have a problematic staff member, however, you’ll pay just about anything to get them out and someone new in.
The problem is that you may be trading in one bad egg for another, or – worst case scenario – you spend all this time and money getting a new hire who quits after their first week on the job…
What if there was a way to ensure you KEEP good staff & prevent the problematic ones from becoming that way in the first place?
Most dance studio owners I know are only doing faculty reviews once a year, if that even. One check-in per year is not enough to catch potential issues before they become irreparable.
To make things worse, most studio owners dread the yearly review process itself. It can sometimes feel like a one-way, employee-bashing session, with you pointing out all of their flaws and them feeling on the defensive.
It’s no fun for anyone involved – at least the OLD way…
That’s why we recommend a 90-day Faculty Review dialogue centered on improvement.
I’m Clint Salter, the Founder and CEO of the Dance Studio Owners Association. My team and I have helped over 35,000 dance studio owners grow their businesses, meaningfully impact their local communities and cultivate a work-life balance.
Many of the studios we have helped are in the top 20% of dance studio owners across the globe! I’ve combined everything I’ve learned over the past 20 years in this industry to make sure you’re empowered, inspired and equipped to reclaim your free time and create sustainable revenue.
That’s why we created this Template and that’s why we’re giving it away for free, but only for a limited time. So if you want to take advantage of this comprehensive FREE 90-day Faculty Review Template, I highly suggest you snag it NOW!
90-Day Faculty Review Template
Build a team that’s comfortable sharing feedback, motivated to continually improve & 100% aligned with your studio’s values & mission