After completing a recent Recruiting Analysis (Willory’s newest service you can learn about by clicking here), a startling realization hit me: majority of companies are having trouble recruiting and retaining employees because their entire recruiting strategy isn’t properly aligned with the hiring organization’s goals. The result? A painfully long and arduous process to fill job orders and when they are filled… the right person might not be the “winner,” producing high turnover.
Thanks to a SHRM survey, we now know that the turnover rate for new hires in their roles less than 12 months, is between 33-50 percent, industry dependent. With the average cost of a new hire ranging from four thousand to twenty-five thousand, these are crucial dollars walking out the door. When looking to slow turnover and become more efficient hiring, making an impactful change starts by asking three questions.
Are we linking our recruiting process to the awareness that the onboarding and performance management starts with that first interview?
When looking to slay high turnover rate, start with the interview. Recruiters should be trained on how to establish a clear framework for gathering requisition details, including how the new hire will be graded on assessments. Then, educate managers taking part in the interview process how to identify the candidate’s ability to achieve said goals and how to effectively share expectations with the potential new hire.
Are our managers relaying critical insights to the organization’s culture and expectations?
Communicating and engaging with a new hire is imperative to their understanding of the organizations and your expectations. However, that doesn’t start on the first day, but instead by following the best practices of new hire communication (completing new hire documents prior to the first day, continuous communication, pre-planning their first week, etc.) Once the new hire has survived orientation, the onboarding process should continue for up to the first two years of the employee’s tenure. Assigned mentors, additional training, frequent reviews and communications with managers, should not be reserved for just associate and administrative level employees, but instead something available to all employees. New management hires need help integrating into the culture. Failure to effectively onboard senior management can wreak havoc on their subordinates and the culture as a whole.
Are our recruiters gathering key metric related information during those critical first encounters?
Don’t overlook metrics. Those pesky, necessary and sometimes even confusing analytics are good for more than an annual review. Clearly defined and visibly communicated metrics are determining factors for rating the success, identifying weaknesses and accountability for any employee, not just new hires. Consistently communicating those analytics and meeting frequently, quarterly or more, keep the new hire and their supervisors on the same page.
The next time you are faced with the challenge of conquering high turnover and increased employee engagement, look at your recruiting department before installing that slide or splurging on a new performance management software. The answer may be as easy as realigning the process from the time the candidate interviews the first time.