Employee turnover is a huge issue for many businesses, especially those in the technical market. With each lost employee, the company incurs multiple costs from lost productivity, risks to business continuity, and replacement fees. Fortunately, the problem of employee turnover can be prevented and these costs can be managed through smart business planning and staffing management. Read on as we talk about ways to lessen the impacts of employee turnover.
Make the workplace a learning one
Cross-training and fostering ongoing learning across all levels of employees is not only good for business, it’s also a solution to employee turnover problems. When employees understand their roles well, and they also understand the roles of others, they can easily learn how they impact the organization as a whole. They may be less likely to jump ship leaving their team-mates behind. But, when they do, others can pick up and handle the tasks until a replacement employee is secured.
Updated candidate pools
Many times, companies think that just because they have a few hundred candidate applications on file that they can just pick up the phone to call a new person when a job opens up. This not the case, because good talent is hard to find and when they are identified the competition snatches them up. Instead, a temporary service can provide the means to soften employee turnover by accessing their updated candidate pools of great people who are actively seeking new opportunities.
Use better hiring and onboarding practices
Instead of using one or two people to conduct interviews, create a system for at least one of these interviews to be a group one. This removes personal bias and enables existing employees to have a vested interest in the new hires from day one. This helps to reduce turnover that is likely to occur early on due to poor team integration. Also, consider the candidate experiencing during the onboarding process. Revamp any areas that are confusing or lead to employees ejecting from the company soon after starting their jobs.
Get temporary staffing support
One of the better ways of dealing with turnover among employees is to work with a quality staffing agency. Instead of going through the costs and pain of replacing employees on a continual basis, which can be the norm in some industries and for certain job types, temporary employees can be brought on to cover for skills rather than positions. Temporary employees can be utilized to augment for missing skillsets, whenever an employee leaves, or when some are out on leaves.
Use the above methods for alleviating the impact that employee turnover may have on your business.