How to Combat High Employee Turnover
A big subject for debate within the corporate world, employee retention and turnover are major
factors when it comes to managing a business’ day-to-day. While the changing of talent is a common occurrence wherever you work, companies with high turnover statistics are likely to have some form of internal issues that make staff more reluctant to stick around. Having a high employee turnover isn’t the end of the world, but it can add instability to a business and dissuade some of the top talent from applying to join.
Hiring Strategies
Recruiting for a job role can be a challenging task; with a huge applicant pool to look over featuring people from all walks of life, selecting the right person for your business is very difficult. If you find that you keep selecting people who want to leave shortly after they join, this could be down to a poor-quality hiring strategy. If you carry out in house recruitment, there’s a good chance that candidates who pass the screening stage do so due to – consciously or unconsciously – being likeable to the interviewer. While being likeable and fitting the job spec aren’t mutually exclusive, some recruitment strategies mean that lower quality candidates are frequently chosen. A bespoke Applicant Tracking System can help identify the prime candidates for each job role, avoiding unconscious bias throughout the recruitment process.
Competitive Pay
One of the main reasons people leave their jobs is due to pay that is either too low, or not competitive enough. Most employees want to see continuous pay rises as they develop at a role, when this is not delivered, they usually start looking elsewhere for the bulk pay rise that come with switching jobs.
Options for Further Development
Everyone wants to be in a role that allows for them to develop at a comfortable rate. Be it with
skill training or promotions, after being at a business for long enough most workers will want to take on roles with additional responsibility or greater developmental opportunities. Employees who are ready to make that step up but do not have a clear developmental route they can follow are far more likely to be unhappy and therefore end up leaving your business.
Poor Culture
Something that starts directly from the hiring strategy, a company culture plays a major part in how comfortable an employee is at work. For companies that have a toxic work culture or tend to be unwelcoming to certain types of people, an employee might feel less welcome leading to higher levels of stress and general discontent with their job.
Contact Eploy Today
At Eploy we offer bespoke Applicant Tracking Systems designed to help you find the best candidates for each and every job opening. Get in touch with our specialist team at Eploy to find out how we can help you meet your recruitment goals.