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Seven Steps To Reducing High Corporate Turnover ~ Part 1 of 2 High employee turnover affects profitability and reduces internal morale. It has been estimated that it can cost almost twice an employee’s salary to find and train a replacement, not to mention the time loss and inefficiency of this problem. In this part one of a two part article we will discuss Seven Steps that will help reduce your turnover. STEP NUMBER ONE- Take Time In Hiring Don’t hire just because you need someone to fill the opening or if they look “adequate.” The hiring manager and Human Resources staff must know exactly what they are looking for and never settle for less. Make sure the candidate fits in with the corporate culture and the interviewers have a good “gut-feel” about the candidate. If anyone has a bad feeling about the candidate but can’t put their finger one it, it is best to schedule additional interviews. If the bad feeling persists, move on and find someone else. In addition always, perform reference and background checks. A third party can provide a background check that is not very costly. In some situations you can also bring the candidate on-board as either a temporary employee or consultant until they prove themselves. STEP NUMBER TWO – Have A Competitive Salary And Benefits Program Most professional people do not leave a job just because of a low salary: Rather, it’s often part of an entire set of reasons. If you do not have a competitive salary you may start losing your employees to professional recruiters. They are always looking for someone who is having a bad day and might not know the current pay level in the industry. Benefits are also very important. Staff will leave for better insurance, vacation and other benefits. STEP NUMBER THREE – Always Have Clear And Concise Communications With Your Staff Workers hate that “not knowing” feeling. Successful organizations are always in communications with their employees letting them know both good -- and bad news. They also include employees in their business plan and direction. Changes occur often in the business world today and good employers keep their employees apprised of these changes and help get them on board with the new directions. There is nothing more frustrating for staff than to know changes are on the way, but not knowing how they will be impacted. STEP NUMBER FOUR - Balance Your Talent In my book “Talent Balancing - Staffing Your Company for Long Term Success” I talk about how to find the right people for the right job and balancing the workload so everyone does their fair share and no one has to work overtime in order to get their job done. When emergencies come up, people will have to put in additional hours, but this should not be the norm. Another reason employees leave is because they feel overworked and under appreciated. Another solution is to hire temporary or part time people to assist in the backlog. END PART ONE OF TWO Jim Stedt is a partner at The Business SoftSkills Company (GetSoftSkillsNow.Com) located in Santa Ana, California. They provide job readiness and workforce success videos for education, business, prisons and individual use. Training is available online, on DVD, or through an affiliate program. These products are the most complete and concise soft skills training packages now available for the price of an average college textbook.
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