High employee turnover can be a major strain on your business. Not only does it disrupt productivity, but it also leads to increased costs—about $5,000 per hire over the course of vetting, interviewing, and hiring. And if employee turnover becomes a frequent occurrence, the constant cycle of hiring and training new staff can also affect team morale.
To maintain a stable, motivated workforce and a profitable business, you need to take a proactive approach to reducing turnover, from hiring through to onboarding and day-to-day operations. We’ll walk you through some of our top tips to keep your team engaged and committed, and explain how you may want to lean on a staffing partner like Spherion to help you tackle your turnover challenges.
Make sure you’re attracting employees who are the right fit
First up, you’ll want to take a look at whether you’re hiring the right kind of candidates. To attract employees who are just right for your business, start by defining your ideal candidate profile and getting a clear sense of your company culture. Knowing the specific skills, experiences, and personality traits that match your organization’s values helps in finding potential candidates who will truly thrive in your environment.
Next, make sure you're creating compelling job descriptions and strong employer branding. Craft job postings that clearly outline the role, responsibilities, and the unique perks of working at your company. Show what makes your company special through engaging content that reflects your values and culture. Be honest here! If you attempt to draw in employees by exaggerating, those hires will be far more likely to become unhappy once they get started and see that the real position or workplace environment isn’t quite what they signed up for.
Don’t overlook using social media and online platforms to reach out to potential candidates. These channels are great for connecting with a wide audience and interacting with them in a space where they are already active. Sharing behind-the-scenes looks at your company culture and success stories can attract candidates who feel a sense of connection with the values they see exemplified in this kind of content. Similarly, highlighting testimonials and real experiences from current employees gives potential hires an authentic glimpse into what it’s like to work for your company, helping them picture themselves as part of your team.
For some added support attracting and keeping employees who are aligned with your business goals and culture, partnering with staffing agencies like Spherion can be a major advantage. They offer targeted sourcing—making sure you connect with candidates who meet your specific needs—and provide access to a large pool of talent so you can find the best fit for your organization.
Improve your onboarding and training processes
Next, take a look at your onboarding and training processes, which can go a long way toward making new employees feel welcomed and prepared from day one. If you don’t have any formal processes set up, now is the time to do so. A structured onboarding program helps new hires understand their roles, integrate into your company culture, and build confidence in their abilities. Once they’ve settled in, having access to job training and resources will set them up for further success by giving them the tools and knowledge they need to perform their duties effectively.
Maybe you already have a formal onboarding and training system, but you still struggle with employee turnover. In cases like these, we often see companies find great results by assigning mentors or buddies to new hires. These more experienced colleagues can offer guidance, answer questions, and help new employees navigate the office environment, leading to a better overall impression. By encouraging this kind of open communication and feedback from the start, you’re helping build a supportive atmosphere where new hires and established team members alike feel comfortable sharing their thoughts and concerns—before they potentially balloon into bigger issues.
This won’t be a one-and-done type of project. You’ll want to continuously evaluate and refine your onboarding process to make sure it’s still relevant and effective. Ask new hires for feedback directly and take their responses to heart, making any adjustments that might be necessary based on their experience. By prioritizing a strong onboarding and training program, you can improve employee satisfaction and hopefully boost retention.
Keep your pay and benefits competitive
Competitive pay and benefits top the list of must-haves for most employees, which means it’s a critical part of your strategy to reduce staffing turnover. Ensuring your salaries are attractive can make a significant difference in your recruitment and retention efforts, as can comprehensive benefits packages that include health insurance, retirement plans, and paid time off.
To stay competitive, you’ll want to conduct regular market research and benchmarking to ensure your compensation packages are in line with industry standards. As you do so, you can lean on resources like Spherion’s Salary Comparison Tool. The tool references multiple external data sources specific to the United States job market to bring you an accurate, updated snapshot of how your pay compares to other positions with the same title and in the same area as you. You may discover that you need to adjust your compensation levels to keep up with your business peers, or you may learn that you’re substantially overpaying—and could afford to cut back while still outpacing competitors.
While this isn’t truly part of pay or benefits, simple gestures such as employee of the month awards, public recognition, and opportunities for professional development can significantly boost morale and job satisfaction. Don’t overlook the value of non-monetary rewards and recognition programs while you’re evaluating the rest of your benefits!
When dissatisfaction occurs, know how to handle it
When employee dissatisfaction pops up (and it definitely will at some point or another), it’s important to handle it effectively to keep your team happy and productive. Start by encouraging open communication and setting up clear feedback channels, which creates an environment where employees feel comfortable voicing their concerns and suggestions without any fear. When concerns are raised, tackle them promptly and make the necessary improvements. Showing your commitment to resolving problems demonstrates that you value your employees’ input and are dedicated to making their work experience better.
Conducting stay interviews and employee satisfaction surveys can be a great source of further insights into what’s working well and what needs a bit of improvement. These tools help you understand your employees' needs and concerns, so you can address issues proactively and reduce staffing turnover. Offering growth opportunities and professional development is another key to keeping employees satisfied. When they see a clear path for advancement and skill-building, they’re more likely to stay engaged and committed to your company.
Finally, a positive and inclusive workplace culture can make all the difference when it comes to employee turnover. Celebrate diversity, encourage teamwork, and make sure that all employees feel respected and valued. With a supportive and dynamic work environment, you can reduce dissatisfaction and build a loyal, motivated team that sticks around for the long haul.
Consider the value of partnering with a staffing agency
Finally, partnering with a staffing agency can be incredibly valuable for your business and also help to prevent a cycle of consistent employee turnover. Agencies like Spherion bring expertise and resources that can boost your recruitment and retention efforts. With access to a large talent pool and targeted recruitment strategies, staffing agencies find the right candidates quickly and effectively.
By streamlining the hiring and onboarding processes, staffing agencies also save you time and reduce the stress of managing these tasks yourself. They use industry insights and best practices to ensure you’re attracting and keeping top talent. Plus, ongoing support and consultation from a staffing agency can give you tailored employee retention strategies, helping keep your workforce stable and motivated.
All in all, partnering with a staffing agency like Spherion can make your hiring process smoother, improve employee satisfaction, and contribute to your business’s long-term success.
Build a stable, motivated, reliable workforce
Comprehensive and proactive retention strategies bring long-term benefits like higher productivity, better employee morale, and lower hiring costs. Partnering with Spherion can boost these effects by offering tailored staffing and retention solutions that match your unique business needs.
Successful employee retention not only boosts team cohesion and performance but also drives overall business success. By making employee retention a key focus area, employers can build a loyal and dedicated employee base that helps the company thrive.