I had another person call me and say they knew they were having employee turnover issues because they had hired three different people for one position in the last eight months. They were trying to figure out what to do to put that trend to a stop ASAP. They were considering personality and behavior assessments, but in the end they didn't follow through on incorporating assessments into their personnel selection process. They hired another person, crossing their fingers that she too would work out. I hope that new employee doesn't become previous employee #4.
And I had another call about the "young people" who come and go like there's a swinging door. This person was terribly upset that she couldn't find an executive assistant that was mature enough for the company president. She explained that the candidates interviewed well, but once they were on board, she would ask herself, "Who the hell is this person? This is not the person I hired two weeks ago!" And before you knew it, the position was vacant again.
If any of this sounds familiar -- if you're dealing with the same type of challenges -- then you want to take a few minutes to review these tips for reducing employee turnover. I'll tell you now that there's not enough space on this page for me to go into great depth, but outside of traditional methods, there are some basic things you need to consider in an effort to cut down on turnover. Employee turnover is costly to your business so you should take it very seriously. So let's look at what you can do to curtail this growing problem.
1) Assess your company culture and determine if the candidate is a good "fit" to begin with. Does the candidate's values align with the values of your company? Remember, your company culture is the personality of the company. Does the personality of the candidate match the personality of the company? If not, they'll be gone before long...headed to a company that does offer a good fit. So make sure you address this head-on before you even hire them. Not a good fit? Then don't hire them. (And remember, gut instinct DOES count for something.)
2) Are your current employees experiencing job satisfaction? Meaning, do they feel appreciated? Do they feel they are part of a team effort? And, most importantly, do they feel like your company cares about them? This includes recognizing and rewarding them for good performance and allowing flexible work schedules, to name a few.
3) And lastly, one of the areas that many managers don't want to talk about or face up to is, are you providing top pay and benefits? Ok...well at least, comparable pay and benefits as your competition would offer? Stay up-to-date with market trends and compensate your employees fairly, if not better than the competition. Want to keep them? Money and benefits are a great way to do that. If not, they'll move on as soon as someone else offers them a few pennies more than what they're currently making.
In short, there are a plethora of reasons why employees move on. Your job is to discover successful ways for retaining top talent within your company. (But also know that in some cases, it's better that the person DOES move on.)
It was once said, "People are hired for skills, but fired for fit." Take a minute and think about that. Then realistically examine what you offer a person who works for your company. And ask yourself, "Are we truly offering a good fit, job satisfaction, and competitive pay and benefits for new employees?" Because these are things that matter when it comes to retaining good employees.