3 Ways to Stave Off Turnover in 2016
As companies begin welcoming the first of 2016’s new hires, retention is on every executive and hiring manager’s mind. It’s no wonder, considering the high cost of replacing employees and keeping a low turnover. It’s readily identifiable why employees leave their companies, as we’ve discussed previously. However, many wonder how they can stave off turnover within their respective companies. Here are three actionable methods to close the turnover gap in 2016.
Define Your Company’s Culture
Getting feedback from your team is a great way to begin the process of gauging your work culture
Have you ever tried going to a new destination without any directions? You’ll more than likely be unable to reach your destination because you have no idea where to go. Sure, you know the name of the place, but how to get there is a completely different story. This is how employees feel when their employers fail to define the company culture. As the saying goes — “fail to plan, plan to fail,” it can also be applied to an organization’s hiring and retention goals. Work culture isn’t just about being buddies with your people, it’s about setting the expectation of what your organization wants to accomplish. Measuring your culture allows employees to get a pulse on their company, giving them the opportunity to improve in areas they may not have known to be a challenge. Getting feedback from your team is a great way to begin the process of gauging your work culture. Set the standard by identifying the organization’s core mission, and your employees will rally behind you. Even better, establishing a company culture helps to decrease employee turnover, because employees will want to stay on longer.
Nurture your team
Let’s not forget that without employees, organizations cease to function. Even further, great operations cannot exist without the aide of talented employees. Of course, the best employees do not simply appear overnight—they need to be developed. This means that leaders have to provide several things:
- Training—giving employees the time and opportunity to fully learn and understand their role within the company
- Feedback—coaching and mentoring them on areas of improvement
- Recognition—praising them on a job well done
- Support—have your team’s back and establish a precedent of trust
- Owning your mistakes—be transparent about your areas of opportunities because your team needs to recognize that you’re human too
- Career path—employees that have room to grow are more likely to stay than those that don’t
Leaders that can implement these ideas into their leadership strategy can ultimately impact the course of employee retention significantly, decreasing turnover. Being a great leader is a key aspect in employee retention. That said, it all begins with the hiring process.
Being a great leader is a key aspect in employee retention”
Create a solid hiring plan
While the majority of turnover issues are a result of the employer/employee relationship, another cause is the lack of a strategic hiring system. The hiring process has many moving parts. Many hiring managers have constraints around budget, time to fill, and the need for certain skill sets. Add these together and it’s not a total shock that companies struggle to onboard candidates that are a good fit. In order to combat this issue, companies can rely on an applicant tracking system to mitigate many hiring snafus. Solid applicant tracking systems allow hiring managers the ability to track applicants, narrow down candidates, while ensuring that references and work history aligns with the organization. This allows for a shorter process while ensuring that quality candidates match your specifications and decrease turnover.
There is no way to completely eliminate turnover, but there is room for improvement. Be clear on the mission, culture, and goals of your organization. Create an environment that fosters the growth of your employees. Make intelligent hiring decisions by automating the process with an applicant tracking system. By doing so, you are setting the organization up for success by investing in creating a productive workplace.
Learn how ApplicantPro can help you decrease turnover, here
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