To cut down your company’s turnover rate it takes more than just a comprehensive employee benefit plan. Selecting quality talent is vital to decreasing your turnover rate, but honest communication will keep that top talent in house.
Creating a positive hiring process sets up a positive experience with the company before employment even begins. 55% of hourly workers “are frustrated most by employer’s lack of response in job search,” according to Snagajobs’ 2016 State of the Hourly Worker Report. Communicate openly and attentively to engage and validate an employee’s worth to the company.
Step 1: The Job Description
Open communication starts with the job description. A clear overview of the position means that you are attracting the right candidates.
Clarity with the applicant early on cuts out miscommunication when they become employees. Miscommunication only creates distrust, confusion and lackluster productivity, which is directly reflected in your turnover rate and the bottom line.
Step 2: Selective Interviews
Once you have a pool of applicants be selective with the interview process, so you can start hiring better workers who fully understand the requirements of the job. “Best Interview Questions to Combat High Turnover Rates” is a great place to start weeding out job jumpers and unsuitable workers.
Step 3: Screen Your Applicants
In the process of hiring the right talent, do not let screening slip to the side due to cost or work involved in the extra step – because having an unsuitable employee will cause the same amount of extra work and cost.
The screening process should include a background check as well as a reference check. You may be surprised by the little fibs you turn up by doing so. For that reason, it is also important to have a standards guideline in place for what is an acceptable error, whether it was a lie or a mistake. For example, if an applicant misrepresented the dates from their last job due to a typing mistake, have your guideline show this as an acceptable or unacceptable. Be specific here. The purpose of the guidelines is to protect you from and future issues with the EEOC.
Step 4: The Onboarding Process
Once hired, provide your new employee the training they need to succeed in this position. At the same time make sure and review the training process critically – does it align with your company’s current goals and guidelines? With the right tools employees will feel more confident and satisfied in their work.
Make sure during this time to go over your company’s internal processes and the job expectations clearly. This is the time for greater detail – use the job description as a guide – and emphasize the goals and expectations of the company.
Step 5: Consistent Feedback
Engagement in regular performance reviews is necessary to keep workers on task and responsive about issues that could lead to separation. Let this be an extension of the communication that you began during hiring.
Recognize that the review process is always a two-way street and encourage employee reflection on managers and job processes. Listening to this feedback is the most vital step but responding – showing your employees that you listened – will further verify employees value to the company and managers.
Understanding the needs and motivations of your employees will build retention of good workers, saving you money and cutting your bottom line proving up the chain that the HR department is indispensable.
EPAY Systems' Human Capital Management as a Solution
EPAY Systems human capital management system can help you at every step of this process from applicant tracking and onboarding systems to performance management where you can give feedback and receive employee concerns. Let us show you how EPAY Systems can manage your human capital more effectively by taking a 2-minute tour.