How do you get the best hired?
Take a look at the chart depicting the study. The two largest categories to focus on are those dealing with the supervisor and limited growth. How they perceive their supervisor contributes to a huge 32% of the departures. Are the employees and the supervisors matched up well and do they communicate well? Can a business improve this by additional supervisor training?
The second most important category involves growth and development in an employee’s job, or lack thereof. We’ve often said that an employee will take a job because they need a job, but they will keep that job if the FUTURE that they see aligns well with their career objectives. How is your business doing to develop employees?
Compensation equates to 12% of the departures. A periodic review by compensation benchmarking can keep a business on par with competitors. The remaining key categories are: 10% for a work environment that is not challenging; 4% for lack of recognition, 3% for poor working conditions, and 3% for training. The end result is that at least 2/3 of the reasons employees actually leave a current employer may be preventable.
Knowing why employees leave an organization is the first step in ensuring your organization retains its valuable talent. Attracting other good employees to join is the next step. Prospective candidates will take notice on just what the current business culture is like. Take a step away from your place of business and look from the outside in, just like a prospective candidate would. What do you see? If you have taken steps in improving your retention, then it can be time to employ your new found knowledge on the new hire side.
In most traditional HR hiring processes, we can be so focused on the screening process that often it is forgotten that the candidate needs to be sold on the opportunity as well. This is particularly important when a prospect is currently employed and must make a decision on whether the opportunity is attractive enough to risk leaving their current role for the promise of something better, yet unknown. We call this creating the Value Proposition.
From the very reasons that employees say they would leave their current job, we can create a value proposition; one that helps the prospective employee draw a conclusion based on both the current and the future value of the opportunity. For a prospect to make a decision to make a change, it must be a measurable improvement. Employers that can make a case, for example, where their supervisor is a better mentor, advisor, and in general just a great person to work for are helping to create value in the case of the Pros and Cons in the table.