Is your company developing a case of “Revolving Door Syndrome,” with employees leaving so quickly that it impacts your bottom line? If you’re looking for ways to decrease turnover, these five tactics can help.
- Recruit people, not capabilities. You need certain skills and abilities “on hand” in order to keep your business running. But to ensure that your employees work well together and stay engaged, you also need to create a team whose personalities and work approach “mesh.” During your recruitment process, focus on choosing the right person for the team – not just the candidate with the right
- Keep compensation and benefits competitive. What are other companies in your position in the industry paying? What about the companies that are where you want to be – how do they compensate their employees? While you don’t have to offer the highest salary around, you do have to create a total compensation package that is competitive. Consider leaning on lower-cost options like flextime, telecommuting, or tuition reimbursements to attract top talent and “stand out” from competing companies.
- Improve the onboarding experience. Onboarding can “make or break” a new employee’s early experiences with the job and their co-workers. Prepare the employee for onboarding by providing an overview of the process, copies of any paperwork you need them to fill out, and optional materials to review, like the employee handbook. Tailor onboarding to the person’s learning style and knowledge. And create an “ongoing onboarding” that works in training and leaves the door open for questions well past the first week.
- Turn exit interviews to your advantage. When an employee leaves, don’t just let them go – and don’t let them duck the question of why they are leaving, either. One easy way to do this is to lead with the question, “What made you start looking for a new job in the first place?” This question invites the departing employee to speak about what needs to change, so that you can focus on fixing things for the better.
- Work with a recruiter. Your staffing partner can help you find the reasons for your “revolving door” and stop them. Because employee turnover can be expensive, the cost of working with a recruiter can yield a much higher savings in the long run – not to mention happier, more productive, and more easily retained top talent.