On average, 80% of job candidates drop off during the interview process, while 20% of new hires quit within 45 days of being hired. One of the reasons for these numbers is bad hiring and training practices, which result in employees feeling generally dissatisfied with their new roles.
With the significant cost of replacing employees, employers need effective strategies to reduce employee turnover as well as improve their hiring retention. Below are tried and tested ways to do so to improve your hiring and retention efforts, and avoid wasting time and resources!
Effective Recruitment
Recruitment efforts are useless if youβre not attracting the right candidates. Thatβs why employers should be clear on their expectations, and try to find out as soon as possible whether an applicant is a good candidate for the role by conducting an initial interview through chat. This helps set expectations about the role before a candidate progresses further in the application process, saving time and effort for both the employer and candidate.
Fast Hiring Process
During recruitment, one of the biggest challenges faced by hiring managers and job applicants alike is the lengthy hiring process. Thereβs a lot of back and forth going on, increasing the likelihood of applicant drop off. These render hiring efforts thus far futile, wastes time and resources for your company, and prolongs the hiring process even more. And with empty roles unfilled, productivity suffers, and your employees are at risk of burnout.
A modern workaround is to utilize platforms that accelerate the screening process by leveraging AI. With enhancements like AI job matching and AI-job description builder, employees have an easier time matching their credentials to the right roles, while employers get more leads and can devote more time and effort interviewing candidates and evaluating their fit for open positions, ultimately reducing time-to-hire.
Unbiased & Structured Interviews
When screening job applicants, itβs important to have a structured interview, and have the same questions you ask each applicant to maintain fairness. This practice also prevents small talk, which creates biases that can impact the interview results.
Another thing to note is the importance of avoiding discriminatory language, providing a comfortable and safe environment, and maintaining impartiality as much as possible during the interview. Recruiters can do this by using standardized evaluations like the skills tests provided by top job portals or purchasing standardized tests from reputable institutions.
And when deciding whether a candidate passes the interview stage, itβs best to have more than one person or even a panel of diverse and qualified people make a collective decision to consider different perspectives and minimize biases.
Smooth Onboarding Process
When welcoming new joiners, it helps to give them a warm welcome by giving welcome kits, office tours, and necessary introductions. Itβs important to not overwhelm the employee, and let them acclimate to their new work and environment in the next couple of days. And because every individual is unique, try to incorporate different training methods to accommodate everyone. And do regular check-ins or assign mentors to new hires to offer help when they need it and ensure theyβre having a good experience.
Personalized Training & Development
When training new employees, itβs important to consider their background and the roles they will perform to make their training relevant and useful in helping them meet expectations. Moreover, training should extend to existing employees, developing their skills for career growth to keep them engaged and help increase job satisfaction.
Regular Feedback & Performance Evaluation
New employees are still navigating their way around the company and their new roles. By scheduling regular feedback sessions to discuss their performance, you can provide guidance to help them do better at their jobs or justify giving or withholding rewards. You can also gather feedback to improve the recruitment process, enhance engagement, and increases job satisfaction.
Employee Engagement Programs
Without adequate communication, proper recognition and rewards, and insufficient opportunities for growth, employees will feel demotivated, leading to lower productivity, subpar performance, and eventually turnover. By providing employee engagement programs like wellness initiatives, team-building activities, and reward systems, you can increase job satisfaction, improve morale and company culture, and reduce turnover of employees.
Competitive Compensation & Benefits
Without good compensation, employees will feel undervalued, and this pushes them to seek opportunities elsewhere. To prevent this, provide competitive compensation & benefits, benchmark it against similar roles in the market and include comprehensive health and wellness programs, include performance-based bonuses, and provide retirement plans and flexible working options to attract and retain top talent. These will help increase job satisfaction and compel employees to stay in your company.
Effective Management & Leadership
The type of work environment employees experience is determined by their managers and leaders. Healthy management and leadership create a healthy environment. And promoting these starts with training leaders and managers to promote open communication, set clear expectations, and recognize and reward employee contributions. These efforts help create a positive and supportive workplace culture which can enhance job satisfaction and reduce employee turnover.
Adequate Support For Job Performance
Even the best employees can feel overwhelmed when they lack tools, resources, and support from management. Itβs important to empower employees by giving them what they need to perform their jobs best. This means having enough employees to perform the job, offering flexibility and work-life balance, giving regular performance reviews and feedback, giving access to necessary tools and resources, and providing clear expectations and goals. These will make employees feel like management cares about them, which increases morale and reduces employee turnover.
Hiring and training new employees is challenging enough without the burden of wrong hires and new joiners quitting. But with the help of reliable and advanced job portals like Bossjob, you can more easily implement these strategies to reduce employee turnover and improve hiring retention, so you can save time and effort by attracting the right talent, screening them quickly through system provided skills test and direct chat, and reducing time-to-hire.
Learn more about how to improve your hiring process. Visit Bossjob today!
