If your company’s turnover levels have reached an uncomfortably high level, it’s time to take action. Direct replacement costs for a departing employee can total 50% to 60% of their annual salary, with total costs linked to turnover reaching 90% to 200% of their total earnings, according to the Society for Human Resource Management (SHRM). Costs can quickly mount after the departure of even a few employees, so you can’t afford to let this become an epidemic.
There’s certainly no shortage of places to find candidates, but each method doesn’t produce the same quality professionals. Learn where to look for talented, loyal, committed employees you can count on to work hard for your company for years to come.
Request Employee Referrals
One of the very best ways to find loyal new hires is asking your staff to suggest candidates. These people have already proven their allegiance to your organization, so you can be certain they’ll put a lot of thought into anyone they recommend for a job. No one wants to tarnish their own reputation by suggesting a known job hopper or someone notoriously challenging to work with. Give your team an extra incentive to tap their networks by offering a referral bonus for successful candidates who stay on board at least a year.
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Attend Networking Events
Networking events are one of the best places to meet people who are truly passionate about their work, because participation is completely voluntary. Join a few professional organizations and attend events on a regular basis to make connections with ambitious, driven workers. Only the most devoted individuals are willing to dedicate some of their free time to making new contacts, keeping their skills updated and engaging in career-related discussions, so some of these people might prove invaluable to your team. Many are likely passive job seekers willing to make a change, but only for the right opportunity.
Partner with a Staffing Firm
Turnover is a very costly disruption, and you don’t have the time or energy to deal with a revolving door of employees. Take on a staffing partner to manage the hiring process for you, to ensure you find the right fit every time. Recruiters are staffing experts who know exactly what to look for in the ideal candidate, and in the off-chance the person doesn’t work out, most will find a replacement free of charge. Employment agencies have some of the best networks out there, so gaining access to this resource is invaluable.
Finding loyal, committed employees isn’t always easy, so allow Premium Staffing Inc. to guide your search. Our team understands the importance of hiring right the first time and as engineers ourselves, we know exactly what you need in the ideal candidate. Contact us today to learn how we can help you combat employee turnover!