Reducing Employee Turnover: Tips for Hiring the Right People
Hiring the wrong people is one of the top 5 most common and most expensive HR mistakes that we see companies make. In fact, employee turnover can cost you 200% - 300% of the cost of one salary alone. That means if you’ve hired a few of the wrong people, it’s costing you a lot.
So how do you ensure you’re hiring the right people for your organization? Here are a few things to focus on:
Up your searching, training, and retaining efforts.
This will take some time and money upfront, but will pay off later when your team is strong and you’re able to retain the right employees. Spend a little more time and money to ensure you’re reaching the right prospective employees at the right time.
Conduct a thorough background check.
Make sure you’re using a background check firm that follows federal guidelines and compliance for Disclosure and Permission as well as retention of files. This can save you from a disastrous hire. We conduct thorough and compliant background checks for the companies we work with. Reach out to us here to learn more.
Perfect your onboarding process.
This goes beyond training your new employees in order to ensure they know how to do their job well; it’s also imperative that you get a new employee up to speed on your internal operations, that they fit into your culture, and that they find their place within your company.
Never assume your employees are happy.
Create a high-feedback environment with a regular review process. Open up conversation with your employees that have been around for a while to ensure new employees are the right fit, both culturally and based on quality of work.
Your employees need to feel engaged and that they make a difference in the company or they won’t stay. Remember that turnover can cost an entire year’s salary - so if an employee isn’t happy and leaves within their first year, you won’t even break even.
Just preventing one person from leaving could save you thousands of dollars.
Employees have already spent hundreds of millions of dollars in employment-related claims this year. Know how to avoid mistakes like hiring the wrong people in order to save your business time and money.
Where we come in
Need some help? We’ll empower you with the payroll and human resource tools you need from pre-hire to post-retire. Our unique approach minimizes the risk associated with managing your labor force. We’d love to talk about your business if we aren’t already working together. Get the conversation started by clicking here.