More and more these days, companies are finding that the high costs of turnover are hindering their ability to scale and thrive. Throughout the last few years, various strategies have been tested to reduce turnover in nearly every industry. Unfortunately, most have yielded only modest results despite significant cost and time investments.
According to fastcompany.com, more than 40% of turnover happens within the first 30 to 90 days. A study from Harvard Business Review goes on to say that 80% of employee turnover can be attributed to poor hiring decisions. What we can learn from these statistics is that one of the most effective yet least talked about ways to reduce turnover is to improve the effectiveness of your hiring process.
In this guide, we will show you tried and true methods to improve your sourcing, screening, and hiring practices to aid you in reducing attrition turnover and churn in your organization.
Use This Guide To:
- Calculate turnover attrition and churn for your company
- Understand how employee engagement factors in
- Discover employee traits that impact turnover
- Learn to screen for turnover during the interview process