The True Cost of Doing Nothing

High Turnover Costs:

• Real-World Stat: The average cost to replace a skilled tradesperson is 30% of their annual salary, or approximately $36,000 per worker.
• Example: If a company loses 10 workers annually, that’s $360,000 lost in recruitment, training, and lost productivity.

Project Delays and Overruns:

• Stat: Projects delayed by workforce shortages or mismanagement can incur additional costs of 10-15% of the project budget.
• Example: A $1 million project experiencing delays could cost an extra $100,000 - $150,000.

Reduced Productivity:

• Fact: Unengaged workers are 18% less productive. For a $1 million project, this could mean up to $180,000 in lost value annually.

 Non-Compliance Penalties:

• Cost: Non-compliance can result in fines exceeding $50,000 per incident. For repeat violations, these costs escalate quickly.

Increased Safety Incidents:

• Stat: Engaged workers report 41% fewer safety incidents. Ignoring engagement can lead to higher insurance premiums and compensation claims.

 Lost Contracts:

• Impact: Delays and quality issues tarnish a company’s reputation, resulting in lost contracts and missed opportunities.

 Difficulty Attracting Talent:

• Fact: Companies with poor reputations struggle to attract quality talent, leading to higher recruitment costs and lower project quality.

 Missed Innovations and Improvements:

• Ignoring worker feedback means missing out on potential improvements that could streamline operations and enhance safety.

Future-Proofing the Workforce:

• With an aging workforce and declining interest in trades among younger generations, investing in engagement and training is essential to maintaining operational capacity and quality.

 By focusing on workforce optimization, training, and engagement, Swift Ops can help transform these challenges into opportunities, ensuring long-term project success and profitability.

Contact Us Today:

Don’t wait until the costs start stacking up. Reach out to learn how Swift Ops can help you mitigate risks, improve efficiency, and secure a competitive edge in today’s challenging market.