8 Reasons CROs Should Be Concerned about Turnover
Retaining top talent is one of the keys to consistent success for any company. Clinical Research Organizations (CROs) are no exception with increased pressure to maintain teams of clinicians.
If you are constantly replacing vital employees, there are 4 general areas of consequence:
1. Decreased Productivity – Not only do you lose productivity once the employee is gone, but many times they’ve lowered their productivity before they leave as well.
2. Missed Deadlines – Losing an employee could result in the company missing important deadlines for their customers.
3. Candidate Recruitment Costs – We all know turnover is expensive, and when it comes to replacing top clinical talent, you’re paying more for the candidate and the recruitment process.
4. Lost Revenue – Every day of productivity lost in a clinical trial is a lost day of potential revenue. The stakes are high!
While the general list creates enough problems on its own, there are 4 more specific consequences to a CRO:
1. Inconsistent Clinical Coverage – This means there aren’t enough clinicians to handle the complex data and safety concerns associated with clinical trials.
2. Data Errors and Gaps – Continually training new clinicians increases the likelihood of poor data quality.
3. Submission of Incorrect Data – When a CRO forces their client to submit incorrect or delayed data it leads to a loss of client confidence.
4. Poor Performance Leading to Lost Business – The erosion of confidence attributed to the above issues results in lost contracts and future opportunities.
Adding a solutions partner that can provide a dedicated clinical team that is agile and scalable could be a critical component to your future success. Shearwater’s retention rate is above 85% and our average QA scores are above 98%. Shearwater’s clinicians have the skills, knowledge, and capabilities to help you protect revenue. Partner with us to remove the consequences of turnover.