It’s no secret that employee turnover costs every business money. Not only is it expensive to hire and train new employees, but your business also takes an internal hit when critical roles are left unfilled. How can you reduce employee turnover? The secret lies in both the hiring process and in employee retention. Follow these tips for reducing employee turnover to keep your team strong.
What to do during the hiring process
If you want to reduce employee turnover, you may need to make some changes to your hiring process. Take these simple steps to get your new recruits started off on the right foot:
- Use video interviews and social media: One of the best ways to keep employee turnover low is by making sure your new recruits fit within your company culture right from the start. By researching candidates through social media, and by hosting video interviews, you can get a feel for how well a candidate fits in with your company. In addition to hiring talent with the right skills, make sure you’re hiring a person who’s likely to love working for your business over the long term.
- Examine all aspects of top candidates: In addition to looking at skills and determining how a candidate would fit within your company culture, look for other traits like willingness to learn, communication skills and self-motivation. No matter what role you’re hiring for, these are essential traits you need to evaluate.
- Optimize the onboarding experience: Onboarding turns a new hire into a valuable team member. Make sure the process is strategic, targeting goals like reinforcing positive first impressions, setting clear expectations for their future with the company and connecting new hires to the team.
What to do to retain current employees
Many recruiters find that the hiring process is the easy part, but keeping employees is a bigger challenge. Here are some strategies for retaining employees for the long haul:
- Create a culture of recognition: Employees need to feel valued—and that their contribution matters. Practice continuous listening and hold regular one-on-ones with your team members to build feedback and recognition into your company culture.
- Provide opportunities for growth: Every team member wants to know they have a future in your company, and if they don’t see it, they’ll start looking for opportunities elsewhere. Look for ways to provide ongoing opportunities for coaching and mentorship and prioritize internal hires for promotions whenever possible.
- Collect input: Gathering employee feedback is important, too, as it helps team members feel more invested in your company. Try to ask your employees what they think on a regular basis and use that input to make informed decisions on how the company can be run. When your employees feel heard, they’re more likely to stick with your company instead of seeking out greener pastures.
Looking for more tips on reducing employee turnover? Reach out to Windsor HR Services, Inc. today. Our HR solutions help you hire and retain great talent for your company, allowing you to save time and money in both the short and long terms.