What does it take to keep a good employee around?
Tag Archive: Employee Retention
One of the top reasons good employees leave jobs is because they have few or no opportunities to advance within a company. But this particular pain point can be mitigated by identifying potential avenues through which an employee can grow and integrate as a member of a business. They want to know how their careers fit in with your long-term business plans: the extension and development of employee career pathing and ladders is a crucial factor in retention, engagement, and ultimately business growth.
Properly motivated and educated frontline employees provide better customer service
The cornerstone of any successful business is a great group of employees. The employees you hire will represent your company in dealings with potential and existing customers. The staff you have on the frontline will need to be properly motivated and educated in order to provide customers the top-notch service they deserve.
HR budget planning is always a guessing game, and the rules, players, and resources change every single year. Even if you have a pretty good handle on what the year ahead will look like, budgeting is often done without all of the details handy, and can feel like walking across an on-fire tightrope while handcuffed and blindfolded: the stakes are high, the execution is difficult, and the results are oh-so worthwhile. But planning a comprehensive and successful HR budget can be simple as well as effective, with just a little analysis and foresight.
why culture fit offers more than just improved retention rates
Several studies have linked culture fit to improved retention rates. Considering today’s competitive job market, this fact alone is a good reason to make culture fit a priority. Fortunately, culture fit offers more than just improved retention rates. When you hire employees whose values, temperament, and personality match that of your company culture, you can expect faster assimilation, increased productivity, and higher job satisfaction rates.
Reference Checks Are Useful
LinkedIn founder Reid Hoffman has spoken about the immense value he places on reference checking, stating that it is his number one choice, over interviews, at getting to the truth about a candidate. Indeed, reference checking still remains one of the most-used hiring methods and one favored by many executives and hiring managers.
“If you told me “úPick one ‘ you could either get references or an interview,’ I would pick references every day of the week.” –Reid Hoffman, founder, LinkedIn
Yet there are still a fair number of HR managers who regard reference checking as a waste of time, claiming that candidates will only provide contacts who are guaranteed to say good things about them or are afraid to say anything because of legal issues. What causes these discrepancies in how people view reference checks? And how helpful are reference checks really?
Are You Checking Enough References, Correctly?
First, we have to consider how references are conducted by your organization. Are they being checked by phone? Traditional methods of calling for information can lead to disjointed, limited feedback. References are often leery of providing details over the phone, are asked the wrong questions (for example, ones that require only a “yes”, “no” answer) or are just too busy to give much information of use.
Second, how consistent and organized are your reference checks? Many HR managers see it only as a task to rush through for compliance, with little regard for getting real answers about a candidate. In fact, recruiters tend to check only 2.4 references on average to fulfill this “requirement”.
How Many References Should You Check?
But according to a new Checkster research study, this isn’t enough. Checkster evaluated 51,000 references to determine the magic number of references needed for quality hires, to prevent turnover and ensure that candidates aren’t cherry-picking the few references who will say good things about them. How many should you check? Four.
Mitigating employee turnover is just part of running a business: people move, priorities change, life happens. And it’s a problem that ends up costing the company in question as much as twice the salary of the lost employee.
When it comes to measuring the success of recruiting, a critical metric to track is Quality of Hire, which gauges the overall success of a new hire in meeting their job expectations.
After you’ve hired your employee and have conducted the first 30 day review, you’ll want to conduct another review at the 60 day mark to measure progress and engagement. (more…)