Staffing companies that have a high turnover is like struggling to fill a bucket that has a million holes. No matter how many rocks you place in the bucket, you’ll never be able to fill it to the top.
As a recruiter, if your company is a leaky bucket, employee turnover can directly negate your efforts to grow your teams. Therefore, a key aspect of recruiting isn’t only finding top talent, it’s also decreasing turnover.
In this article, we’ll talk about how employee turnover can affect your recruiting efforts. We’ll also explore some common reasons why employees quit and provide tips on how to decrease turnover.
Why decreasing turnover is critical as a recruiter
Finding and placing top talent in today’s job market is incredibly competitive and challenging. If the word on the streets is that your company burns out employees quickly, then that will narrow your potential labor market. You’ll have to take action to manage those perceptions and keep new talent interested.
However, it can often feel like a losing battle. Managing turnover inside your company can quickly spiral out of control. A culture of turnover is self-feeding and leads to a fluctuating workforce. Hiring in this type of environment leads to more work! For every employee that leaves, you will have to spend time and money marketing, interviewing, and otherwise searching for a replacement.
So why do employees leave?
Let’s take a look at the following chart, which attempts to simplify the answer to this question:
If you’ve hired the right people, but are not doing a good job of keeping them. It means you need to change the way your people are managed.
So how can we decrease turnover? With these 3 simple ways:
Career Path Transparency
Employees don’t just want to have a job at your organization. They want a career. Part of having a career is a defined path for promotions and advancement in your organization.
Communicating this transparent career path not only helps facilitate communication, it also removes doubt from your employee that they’ll be able to advance their career.
Management Engagement and Feedback
As a recruiter, it can be difficult to control how people are managed once you’ve placed them. Try to push for company policies that value employee feedback, have managers meet with the individuals on their team frequently, and ensure that there’s an emphasis on hiring individuals who are self-correcting rather than blame others.
Adopt New Technology
Keeping your technology current can help keep valuable employees engaged in the direction the company’s going, says Rona Borre, CEO, and founder of technology and finance hiring, recruiting and consulting firm Instant Alliance. By automating parts of the job that can be done correctly and efficiently by computers, you value the education and skills of your employees and allow them to use those skills on more impactful work.
One of the many challenges of hiring is placing the right employee in the right position. Although not immediately obvious, if you spend enough time hiring for a company, you’ll notice how the mechanics of turnover directly negate your hiring efforts. Using an Interview Logistics Platform like GoodTime can help you battle employee turnover in two ways:
- By making more effective hiring decisions.
- Leveraging automation to increase the volume of hiring above turnover, resulting in more hires than turnovers.
About the Author:
Aaron is an Engineer at GoodTime! He works remotely in sunny Austin, TX. When he’s not programming computers, you can find him working on his garden or playing with his dogs, Pablo and Arya! Follow him on GitHub.