Advance America's Steps to Reducing Turnover and Refining Talent Acquisition

Advance America took aggressive steps to significantly reduce turnover, reduce costs, refine the talent acquisition process, and ensure that hiring practices more closely reflect the company’s core business priorities.Advance America is the nation’s leading cash advance company, employing approximately 6,000. The company has evolved and expanded its product line throughout the years to offer other consumer products to its already large customer base. At least 90% of its workforce is on the front line in its approximately 2,500 center locations. Advance America grew very rapidly from its founding in 1997 through the mid 2000’s. The rapid growth resulted in many successes but also some struggles with regards to its workforce, including an increasing turnover rate. In 2006, the turnover rate peaked at 104%. At this time former CEO, Ken Compton, asked Human Resources leaders to make significant reductions. This case study will highlight the steps that were taken to understand the und...