How can my organization reduce turnover in key positions?
The costs associated with replacing management and non-management employees continue to increase. These replacement costs are estimated to be between 25-50% of an employee’s annual salary. In addition to the costs, employee turnover results in the loss of intellectual capital that employees have developed during their time with the organization.
There are many potential causes for turnover. Economic conditions and labor market conditions are often blamed for turnover issues. However, many of the primary causes associated with turnover in any specific job or organization can be managed and improved. These include such things as poor fit between the employee and the job, inadequate training, failure to reward high performance, poor communications, high stress, working conditions, monotony and poor supervision and leadership.
The first place an organization can focus its efforts to reduce turnover is by improving its selection process and practices. Research demonstrates several key areas where selection systems can be improved:
Skills Assessments: Skills assessments enable an organization to assess candidates to ensure they have the skills to perform basic job duties.
Behavioral Assessments: Personality and attitudes assessments help detSTMine if a candidate will be the right fit for the job and organization. Attitudes assessments help identify counter-productive work behaviors that would interfere with a candidate’s chances for success.
Behavior-Based Interviewing: This interviewing technique involves asking candidates to provide specific examples of past behaviors that illustrate their abilities that are directly related to the competencies and requirements of the job.
Background Screening & Verifications: Conducting thorough background checks and drug screens can help identify candidates with issues that would be of concern for the organization.
The Reliant Strategic Talent Management Suite provides solutions that address each of the key areas above.
ReliantSkills: Over 150+ skills tests to accurately and effectively measure knowledge, skills and abilities required for an individual's job success for Accounting, Clerical, Engineering, Healthcare, Industrial and Retail-type positions.
ReliantAssessments: Validated behavioral assessments including Reliant Clues and Reliant Attitudes that measures an individual's normal personality, cognitive reasoning and attitudes.
