Cash America experiences a 43% reduction in employee turnover using PeopleAnswers

By replacing its traditional paper-based hiring process with online software from PeopleAnswers, Cash America’s employee turnover decreased by 43% compared to employees hired without PeopleAnswers.

Cash America International, Inc. provides specialty financial services to consumers in the United States, United Kingdom, and Mexico through the brand names of Cash America Pawn, SuperPawn, Cash America Payday Advance, Cashland, Mr. Payroll, and Prenda Fácil, as well as the Internet portals of CashNetUSA.com and QuickQuid.co.uk.

PeopleAnswers worked closely with Cash America to compile employee performance metrics for targeted positions. PeopleAnswers analyzed this employee data, as well as their results on the PeopleAnswers assessment, to provide hiring managers with a blueprint for selecting job candidates most likely to perform well as Customer Service Representatives and Shop Managers.

Upon completion of a two-year employment study, turnover rates of employees hired using the PeopleAnswers tool stood in stark contrast to those hired through traditional paper applications. Leveraging the tool’s predictive ability to identify better hires, Cash America anticipates that the use of PeopleAnswers will save $1.2 million over two years through cost reductions in hiring and training in these two positions alone.

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Ira Grossman, Vice President of Operations at PeopleAnswers, says Cash America’s desire to identify the best candidates is one many companies share but few execute effectively. “Cash America took a focused approach and did not waiver to ensure that the employees behind the counters of every Cash America are the right fit to operate as the face of the business in consumer interactions. Managers and customer service reps are the conduits for money lending, inventory purchases, and the handling of multiple cash transactions with accuracy and integrity, all of which are activities vital to corporate profitability.”