3 Key Takeaways from the 2016 NADA Dealership Workforce Study

The results are in: According to the 2016 NADA Dealership Workforce Study, the retail automotive industry had a monumental 2015. Dealers from coast-to-coast saw overarching trends of long term growth: vehicle sales, transaction prices, and rooftop employment numbers leading to more profitable businesses. Unfortunately, that’s where the good news ends. The 2015 study also shed light on the industry’s consistent struggle with turnover, retention, and engaging the female workforce.

Hireology has read the report, analyzed the study, and identified three key takeaways you need to know in order to increase the gap between you and your competitors. Use these insights to differentiate your approach to hiring and building a better team.

Key Takeaway #1: Treat Hiring as a Process

2015 continued the trend of previous years with 27 percent of terminations across all departments (39 percent for sales consultants alone) happening within the first three months on the job.  The study also found that fewer than half of employees – 45 percent – stay with their dealership for more than three years, significantly less than the 67 percent retention rate seen in the U.S. nonfarm private sector average…

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