TOOLS FOR GROWTH

    3 Ways to Effectively Reduce Employee Turnover (Part One of Three)

    Posted by Jody Sause on Jul 22, 2016 11:16:53 AM
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    We’ve all heard the saying “your company is only as good as your best employees.”  In my years of experience, whether it be in a retail, manufacturing or corporate environment, I’ve seen this proven time and time again. 

    So let’s say you’ve done the leg work – you’ve found qualified candidates with the proper knowledge or education, a love for the work they will be doing, and a drive and work ethic that rivals that of Indra Nooyi (look her up – the story of how she made it to the top is pretty amazing).  You’ve hired these perfect work specimens and watched them excel at every task you’ve given them.  Now what?

    reduce-employee-turnover.pngNow, you have to keep them.  Employee turnover is one of the largest problems facing employers today.  It’s been estimated that it costs up to twice a worker’s salary to replace them.  And consider what it does to productivity, not to mention the blow to employee morale.  So how do you reduce employee turnover?  How do you make sure you keep your company’s most valuable assets?  How do you grow your business when your staff is dwindling?

    This is what we’ll be teaching you in this new series – three ways to help reduce employee turnover. Remember what I said earlier about finding the right candidate?  That’s your first tip.

    Hire the right people.  This goes beyond finding the person with the right education, experience or certification.  A company is, in effect, its own little culture.  You have a way of doing things and a system of beliefs, visions, goals, and varying personalities that make your company different from the rest.  Your candidates should fit in to this culture.  If they do, they’ll settle right in and feel comfortable.  If they don’t, it’s a recipe for disaster.  We’re talking about meshing here.  Your candidate should be able to work with their potential coworkers.  If you have a department full of boisterous creative types, an introvert wouldn’t be happy or productive at work. 

    So how do you make sure you hire the right people?  How do you go beyond the required education and skills to actually find a good match?  There’s a few ways to do so:

    • You need to portray your culture during interviews. Let the candidate know what it would be like to work for your company.  Most times, the candidate themselves can see whether or not they’d be happy working for you.  That introvert I mentioned earlier?  They’ll realize that your work environment is not the best fit for them, and they’ll let you know so.
    • Introduce the candidate to their potential coworkers. Now, I understand that a first meeting may not be indicative of an entire working relationship.  But you can see how the candidate interacts with the rest of your staff and if they’re comfortable and at ease.  These are important measures of how they’ll get along in the future.  Bonus if it’s in a social situation where everyone is relaxed rather than a stiff introduction while walking around the office floor.
    • Ask the right questions. We all know there’s a lot of questions that you can and can’t ask during interviews, so tread lightly here.  I’m talking about asking questions that would indicate whether or not the employee is a good fit.  You already know their accomplishments and GPA.  Ask how they would approach a new project.  Ask if they enjoy working on teams.  Ask what they’re most proud of accomplishing and why.  All of these questions will help you determine how they will mesh with your current workforce.

    If you make a point of hiring the right people, you’re already taking a huge step towards reducing employee turnover.

    In our next post, we’ll move on to our second tip. 

    Don't want to wait to read more?  Download our eBook "3 Ways to Effectively Reduce Employee Turnover" today!

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    Topics: Tools for Growth

    SeedsOfGrowth.jpgAbout this Blog

    ISN is North America's largest automotive tool distributor.

    Over the course of the last 25 years, we have developed a core competency around keeping things simple and making work easier for our customers. That ability to make doing business easy requires sophisticated logistics, proprietary technology, strategically placed warehouses, and unique systems built from experience.  Through our series, Tools for Growth, we will be sharing tried and true tips that have helped us grow our customers' businesses exponentially.

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