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November 2, 2023
When you prioritize your employee’s development, especially technicians, the returns are impressive.
The Good News
Did you know that by simply investing in a technician’s development – both personally and professionally – you could be generating an extra $7,685* of new revenue per technician each year?
Let’s put that into perspective. The average US dealership employs an estimated average of 15 auto techs. That’s a whopping annual revenue bump of $115,275!
Here at Mentor Mentee, we’ve crafted our Technical Mentoring platform with the nuances of automotive technicians in mind. And guess what? Investing in this growth starts at just $2,499 per year.
The Not-so-Good News
Now, let’s flip the coin. It’s no secret that losing a technician can put a dent in a dealership’s wallet. On average, it takes an estimated 27.5 days to fill the shoes of a departed technician. Considering each technician can pull in about $622/day, the cost of not retaining one technician racks up to $17,111** over the estimated time.
But here’s the silver lining – investing in your people always brings a tangible ROI.
When you crunch the numbers, it’s crystal clear: Mentor Mentee isn’t just a platform—it’s a strategic investment.
But beyond the numbers, our platform is uniquely designed to support new and seasoned techs. For the rookies, it offers a guiding light, building foundational skills and confidence. For the veterans, it’s a platform to refine, mentor, and even rekindle their passion for the craft. The ROI is twofold: tangible profits and a thriving, skilled workforce. By choosing Mentor Mentee, you’re not just investing in a system; you’re investing in the future and prowess of your technicians.
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Average number of total employees per dealership = 64
Average techs per dealer = 15 (64/23.9%)
Annual Turnover rate for techs = 46%
Estimating 30% of techs need upskilling
Positive productivity increase per year through upskilling = 6%
Productivity days per year = 225
Productive days per year (45 weeks x 5 working days) = 225
Increase In Revenue Turnover Per Employee = $7,685
No. of productivity days lost to replace technicians = 27.5 days
Revenue turnover per day per lost employee = $622
Loss of revenue turnover per lost employee @ 27.5 days = $17,111