No company is free from turnover. In fact, you’ve probably had a few employees quit their jobs this year. If so, you’re definitely not alone. Nationally, the average turnover rate is 18.1 percent, according to the 2016 Turnover Rate Report, compiled by Compdata Surveys.
While inevitable, keeping your turnover rate as low as possible is crucial. High levels of turnover are costly, as constantly having to hire new employees will put a serious dent in your budget. More than just a monetary strain, excessive turnover can cause employee morale to plummet, right along with job satisfaction levels.
Make this a non-issue at your company by adjusting your hiring strategy to concentrate on retention.
5 Ways to Hire Employees for the Long Term
Focus on Cultural Fit
It’s exciting to come across a candidate who checks all your boxes on paper, but don’t let a skills fit alone guide your hiring decision. If you want the person to become a fixture on your team, they need to perfectly mesh with your company culture. Employees who lack the right personality to blend with the team don’t last.
Gauge Their Future Plans
You want a team of employees who consider your company their future — not a stepping stone to get to their ideal job. During the interview process, find out where the person wants to be three, five and 10 years down the road, and if their career goals can’t happen at your company, don’t hire them.
Always Be on the Lookout
Sometimes the perfect fit for the team comes along when you’re not even looking. Therefore, it’s important to always have your eyes open and focused on what’s next for your company. This will help you recognize an exceptional candidate when you meet them, so they don’t slip away. You might not need the person on staff right now, but being proactive can help you make the best hire you’ve ever had.
Post Accurate Job Descriptions
When an employee leaves, you probably post the same job description used to hire them to find a replacement. What you don’t realize is most jobs evolve with time, so the description likely has at least a hint of false advertising. Attract the right candidates the first time by exerting the extra effort to rewrite the job description, as this will save you stress down the road.
Offer Competitive Pay
Money isn’t the most important aspect of a job, but it does play a key role. If you don’t pay your employees an industry-average salary, many will be forced to seek employment elsewhere because they can’t afford to work for your company. No matter how much they enjoy their job, people also have to pay the bills.
Hiring for the company’s long-term needs is the key to reducing turnover. StaffMasters can help you choose manufacturing, distribution, logistics, call center, administrative and professional talent who want to be part of your team for the foreseeable future. Contact us today to discuss a partnership!