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Reduce Turnover, Increase Productivity

Reduce Turnover, Increase Productivity

Any human resource manager knows that it costs money to hire new employees, and a high turnover rate can be a profit busting problem. Meanwhile, the employees that managed to stay are losing their productivity and planning their own exit strategy. Here are some actionable steps any business of any size can take to reduce turnover and increase employee productivity

1. Know the position

Are you hiring a secretary when you really want an assistant? This is one of the most common mistakes, and common reasons why people leave their job – the position didn’t match the description. Review positions that are constantly turning over and find out what it entails. Consider rewriting the job description to better match your needs.

2. Recruit wisely

Certain job boards attract certain applicants. Look into the demographics of any paid listing board and make sure it attracts who you want to attract. If you’re looking for a tech genius, you might not find it in a board dedicated to actors. This is especially true for niche industries that require very specific skills and experiences. Go a search for the position you need and see what comes up. This is where you want to be. And never underestimate the power of referrals.

3. Pay competitively

In a recovering economy, it might seem tempting to hire an army of free interns to run your start-up, or offer minimum wage starting salaries in your corporation, but it will hurt you in the long run. Yes, you get what you pay for and if your compensation should match, or even exceed the market value salary. Professionals who accept low paying jobs might see the position as a bridge to something better, and are planning to leave before they start.

4. Pre-employment screening

Now that you have the perfect candidate at the perfect salary, make sure they really are perfect. Pre-employment screening allows the business to know who they are hiring. This usually includes a drug test and background check, but can include a physical and even aptitude assessment. Again, you can customize your screening program as needed for your industry. Drug abusers and individuals with a history of fraud might not be a good fit for certain positions that include customer interaction.

5. Review, review, review

Employees like feedback and they like knowing how they can improve their job. Offer regular reviews, more formal ones biannually, but other shorter discussions more frequently. By showing the employee you care, and pay attention to them, you are creating a family, and keeping them as a part of the team. And if there is any dissatisfaction, you’ll find out before a two-week notice is dropped.

6. Do not be desperate

If your dream employee just left you after you selected them correctly, paid them well, screened them and made sure you followed-up, don’t worry. Sometimes there are other factors beyond your control, and people decide to switch employment when needed. During this transitional moment, do not hire out of desperation, but continue to do your due diligence in a right candidate. Make times a quick fix turns into a forever nightmare.

 

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