A Gallup survey found that 48% of America’s working population is actively job searching or watching for opportunities. They estimate that when an employee leaves, the cost to the company is typically 1 1/2 to 2 times their annual salary. So how do you hire and retain your best employees?
Key Takeaways:
- Great Resignation: 48% of America’s working population is actively job searching or watching for opportunities, indicating a phenomenon known as the “Great Resignation.”
- Cost of Employee Turnover: When an employee leaves, the cost to the company is estimated to be 1 1/2 to 2 times their annual salary.
- Effective Hiring Process:
- Clearly articulate the job details, required experience, and success criteria in job postings and descriptions.
- Encourage current staff to make recommendations and consider offering finder’s fees.
- Seek recommendations from customers and clients for potential candidates.
- Inclusive Interview Process:
- Involve department members in the interview process to gather valuable feedback.
- Allow finalists to demonstrate their skills through practical tasks or assessments.
- Use instruments like Myers-Briggs for candidate assessment.
- Reference Checking: Conduct thorough reference checks with non-typical questions, focusing on the candidate’s work style and qualities. Ask about positives and negatives.
- Post-Hiring Mentoring: Ensure that the newly hired employee is mentored by a top performer, set goals, and conduct periodic meetings to track progress and job satisfaction.
- Strive for Success: Employers should make efforts to hire the right person and set them up for success, aiming to improve retention and contribute positively to the organizational culture.
Dave Edwards Media 