”As much as 80% of employee turnover is due to bad hiring decisions” – Harvard Business Review.
The end-goal of all recruiters is to find the perfect fit for their open position. This doesn’t only mean hiring a talented candidate that turns into a powerful engine for the company, but also finding ways to retain him. More than a simple affair of skills and numbers, fighting staff turnover is an all-time war against the odds for the recruiter.
According to a Glassdoor survey from 2018, turnover and job-hopping rate have never been so high. The truth is, top talents are already employed, and the ones that are open to the idea of moving are a premium target for aggressive recruiters. Those so-called passive candidates aren’t leaving their jobs because of poor work environments. They are leaving because they’ve spotted (or been dragged into) a better opportunity elsewhere.
Staff turnover and the puzzle of Candidate Engagement
Engaging employees starts with the goals you set yourself as a recruiter. What are you assessing when interviewing candidates? What are the traits you’re focusing on? Turns out that identifying top performers from within your company might bring you the insights you need to find better candidates. How does your employee perform in a specific role? What are the defining traits? This kind of data will influence the Quality of Hire. This metric can improve screening for future candidates: what are the behaviors that made a candidate successful in a position, what are the ones that made less important. How do you assess a talents ability to face office politics? To be more positive and collaborative rather than conspirationist and ego centric? As much as a good hire can uplift your company, a toxic one can cause a chain-reaction of damages.
Cultural Fit is not something easily communicated through the basic benefits and compensation talk. Genuine and meaningful exchanges are tough to concretize during the short span of an interview, hence the importance of selecting behavioral interview questions.
Making the process unexpected, revolving around the discussion rather than the presentation. In search of inspiration? We’ve compiled a list of killer questions in this article.
Mentoring, leadership and retaining high-profile candidates
Though Cultural fit starts with brand subjectivity, retaining an already engaged candidate (and perhaps new hire) originates with the way you set and level expectations. Showcase live work situation, give away insights from within a company. Honest and fair descriptions of a challenging position might actually boost the motivation of most well-determined candidates.
”Sixty seven percent of employers believe retention rates would be higher if candidates had a clearer picture of what to expect about working at the company before taking the job.’’
In the end, staff turnover can be pushed away with mentorship and coaching. An experienced colleague or inspiring leader can strengthen the relationship between the employee and the company. More binding leads to increased opportunities and a sense of belonging. Coupled with an encouraged system of referral and internal hires, a company can become quite reputable among talents seeking a place to thrive.
As Patty McCord (former chief talent officer at Netflix) said ‘’ A positive culture will help create and maintain the relationships that are irreplaceable through monetary means ‘’