Get Control Over Your Employee Turnover
A critical staff member has just given you notice that they will be leaving in two weeks. Panic sets in. You know how much it will cost to recruit and train a replacement, but that is only the tip of the iceberg. How long will it take to fill the position? How much will you spend on overtime and contractors during the interim? How will you ensure customer service is not impacted? Will other employees take note of this departure and plan their own exits? This can be very stressful as you understand both the expense and disruption associated with turnover. While it is inevitable that employees will come and go, it is also something you can manage. Here are four tips to getting control over your employee turnover.
Welcome New Staff
Upwards of 50% of new senior hires will leave their position within the first 18 months. Much of this is because they never were acclimated to their new position. One of HR’s most important roles in reducing turnover is an effective onboarding process. Onboarding involves processes designed to introduce new employees to their jobs and the company culture. In other words, welcome them aboard the team and show them the ropes. While there is no one-size-fits-all approach to onboarding, studies show that the most effective employ a combination of employee orientation and on-the-job training.
Training and Mentorship Program
Training shouldn’t end after the initial orientation and probation period. This should be an ongoing part of your company culture. Informed employees tend to have higher job satisfaction and therefore are less likely to jump ship. Add mentorship to the mix for stronger results. Junior staffers benefit greatly from access and coaching from senior staff. This also builds strong bonds of comradery which also reduces the likelihood of turnover.
Compensation and Benefits
Unemployment is at record lows and the labor market is tight. In a market like this it is critical that your compensation and benefits package is very attractive. Obviously, this includes salary and traditional benefits, but don’t overlook perks that can sweeten the pot. Today’s IT professionals greatly value work-life balance. Time off, gym memberships, flex time, and telecommuting are valuable to employees while inexpensive to the employer.
Effective Recognition Programs
If you don’t already have one, develop an effective recognition program. Executed properly, recognition programs can both increase productivity and reduce turnover. Employees who feel appreciated tend to perform better and remain longer. Click here for 10 cost effective ideas to get your recognition program off the ground.
Danielle Foppe is a Recruitment Manager at Business Centric Technology. If you are interested in learning more about how to get the best IT talent in the Dallas metroplex, contact Danielle specializes in recruiting IT talent in Dallas, Ft. Worth and North Texas. If you are looking for a rewarding career contact us today.