Preventing The Negative Effects of High Employee Turnover
by Dan Gershenson
In today’s post, guest blogger Melonie Boone, Co-CEO and Owner of Complete Concepts Consulting (an HR consultancy focused on compliance and management) takes a look at how strong employee retention can have a positive impact on your culture and overall brand strategy.
If your organization is a revolving door, frequently churning employees it makes a negative impact on your reputation, current customers, prospective clients and business partners.
Your company brand goes further than your logo, company colors, and website. Your employees are your brand. Who you are and what you do is encompassed by who you employ. Moreover, the cost associated with high turnover can break the bank.
Nearly 70% of organizations report that staff turnover has a negative financial impact due to the cost of recruiting, hiring, and training a replacement employee and the overtime work of current employees that’s required until the organization can fill the vacant position.
So what can you do to retain your employees to maintain a dominant brand and minimize the costs of high turnover?
It all starts with hiring the right person.
- Making sure the candidate is a good fit before the first day of work is critical.
It all starts with sourcing candidates from the right place. While Monster and CareerBuilder have always been the staple go to, branch out and explore LinkedIn, niche job boards that pertain specifically to the job function you are recruiting for and don’t under estimate the power of your network. A quick email to your network could result in a referral that is a perfect match.
- Use the interview as your opportunity to get to know the “real” candidate
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Every time you sit down with a candidate, they put on their interview face. When the candidate with the interview face tells you everything you want to hear. They have memorized the job posting, researched good answers to common questions and smile the entire time with great eye contact. To get beyond the interview face, combine a structured interview process with behavioral based questions. Set clear company expectations and position requirements. Incorporate more than one hiring manager and don’t hesitate to have follow up interviews to clarify any concerns.
- Don’t rush the hire and neglect conducting proper due diligence.
We encourage companies to conduct background screenings, always check references and verify the candidates background. Use findings from this step combined with all the information obtained through the interview process to aid you in making the hiring decision.
- Make it a great start.
Once the position has been offered and the first day has been set, start the new hire off on the right foot. A new employee orientation can go a long way in setting the tone for your new employee. Make them feel welcomed and a part of the team. Training from Day One helps build the foundation for a successful relationship.
So you have a great team – now, how do you keep them?
- Make employees feel valued. Create a culture that embraces and celebrates your employees and their accomplishments. Train, mentor and develop your team from top down. Reinforce your employee’s value through recognition and make your organization the place your employees enjoy coming every day.
- Provide feedback and opportunity for growth. Incorporate a performance management process that hold employees accountable, provides feedback and promote from within giving opportunity for growth.
- Build trust and confidence in the leadership team. Live and breathe your mission, vision and brand! Employees have to trust their leaders and believe that they have the competence and passion to grow the business. Inspire your employees to be the best they can be and follow that mantra in everything that you do.
It is no secret that happy employees are one of the most important components of your brand strategy. Remember, if you recruit the best person for the job and nurture them as employees. they will stay – creating a powerful brand statement for your organization.
About the Author:
Melonie Boone MBA, MJ, PHR is Co-CEO and Owner of Complete Concepts Consulting ; a HR Consultancy specializing in Human Resources Compliance and Management for small to mid-sized businesses. With over 12 years of experience in Human Resources, Mrs. Boone has held varying positions from administrative to executive leadership. Mrs. Boone possesses advanced education in business management, human resources as well as business and employment law. She is a native of Chicago, HR enthusiast, novice runner and enjoys spending time with her family. To learn more email Mrs. Boone at mboone@completeconceptsconsulting.com.
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