{"id":7061,"date":"2022-04-11T09:00:00","date_gmt":"2022-04-11T07:00:00","guid":{"rendered":"https:\/\/www.sortlist.co.uk\/blog\/?p=7061"},"modified":"2023-11-24T10:58:17","modified_gmt":"2023-11-24T09:58:17","slug":"high-turnover-rate","status":"publish","type":"post","link":"https:\/\/www.sortlist.co.uk\/blog\/high-turnover-rate\/","title":{"rendered":"Secrets to Stop High Turnover Rate: Hire and Retain High Performers"},"content":{"rendered":"\n

A high turnover rate<\/strong> is always a bad sign in any organization. It indicates that many employees have left your company during a certain period. It is important for employers to retain talent to achieve the company’s mission.<\/p>\n\n\n\n

Many factors could influence this trend. Employees may feel burnt out<\/a>, undervalued, or don\u2019t feel they have the opportunity to grow and learn new skills. <\/p>\n\n\n\n

This problem can generate large expenses during the hiring process, internal management, and slow production rates. You should also note this high turnover rate<\/strong> may also create a cycle effect, where more employees want to leave. <\/p>\n\n\n\n

Today, that situation is nationwide with the Great Resignation period. According to the Bureau of Labor Statistics, 4.3 million US citizens<\/a> have quit their jobs in 2021. <\/p>\n\n\n\n

If you don\u2019t want your top talent to join the Great Resignation, you should discover ways to reduce turnover<\/strong>. In this article, we will show you how to hire and retain new employees who become high performers.<\/p>\n\n\n\n

Hiring High Performers<\/h2>\n\n\n\n

Before thinking about retaining talent, you need to hire great performers<\/a><\/strong>. A lot of companies often struggle to keep their employees because they didn\u2019t identify issues during the hiring process. We will discuss some interesting strategies to keep in mind when sourcing highly-qualified talent in the following list.<\/p>\n\n\n

\n
\"\"<\/figure><\/div>\n\n\n

Create a List of Traits for the Ideal Candidate<\/h3>\n\n\n\n

First, it is important to identify potential traits<\/strong> that the ideal candidate should have. This way, it\u2019ll be easier for you to narrow down the list and conduct more efficient research. <\/p>\n\n\n\n

Think about what makes an efficient worker in that particular role. Is it a creative worker? Someone with logical thinking? Once you have an ideal candidate, it\u2019ll be easier to find the perfect match.<\/p>\n\n\n\n

Don\u2019t Underestimate Soft Skills<\/h3>\n\n\n\n

You shouldn\u2019t create this prospective list of traits only based on the hard skills. Remember that high performers usually stand out for their soft skills. That\u2019s why it is so important to have a holistic view before hiring. <\/p>\n\n\n\n

In addition to doing a background check, recruiters should also evaluate candidates\u2019 soft skills<\/strong>, such as logical thinking, being open to feedback, and having communication skills. You will see some of those skills reflected in their previous work experience, the interview, and even referrals.<\/p>\n\n\n\n

Employee Referral Program<\/h3>\n\n\n\n

Referral programs can be a great way to hire highly-qualified workers. Referral programs usually work with incentives, so your current employees will feel encouraged to refer the most qualified professionals they know. <\/p>\n\n\n\n

There are many reasons to consider implementing an employee referral program<\/a>, such as increased employee satisfaction, reduced costs from the hiring process, finding highly qualified professionals, reducing employee turnover rates<\/strong>, and retaining happy employees <\/p>\n\n\n\n

<\/p>\n\n\n\n

\n
\n \n \n
\n
\n
\n \n \n\n
\n
\n

Why Sourcing is The Only Plausible Future of Your HR Strategy<\/h4>\n <\/header>\n\n

In recent years, Millennials, as well as Generation Z, have quickly become the cornerstone of the working population. Their fluid and transient approach to employment, far removed from the “job for life” attitude of baby boomers, often results in a fairly high turnover rate. As a result, companies must now be proactive and use sourcing […]<\/p>\n <\/div>\n <\/a>\n Advertising & Marketing<\/a>\n \n <\/div>\n <\/div> \n \n <\/div>\n <\/div>\n<\/div>\n\n\n

Get Online Visibility <\/h3>\n\n\n\n

Online visibility is crucial if you want to recruit the best talent, as you can leverage it to find potential candidates. There are multiple employment platforms that you can use, such as Indeed, LinkedIn, or Glassdoor, to post job offers. <\/p>\n\n\n\n

\n

According to LinkedIn, three people are hired through their platform per minute. <\/p>\n<\/blockquote>\n\n\n\n

This means that you have a vast talent pool to discover potential candidates. <\/p>\n\n\n\n

You can also browse people individually and reach out to them. Another great way to find potential candidates is to post your offering on social media. You could be creative and create something like an interactive Facebook post<\/u><\/a>. This way, even if some people are not interested in the job, they may refer it to relatives and friends.<\/p>\n\n\n\n

Be Open to Non-Conventional Backgrounds<\/h3>\n\n\n\n

Another aspect to consider is that you should be open to non-traditional backgrounds. Sometimes an excellent candidate is right in front of you, but your fixated thoughts drive you away from them. <\/p>\n\n\n\n

A similar situation would be when you see a male in a female-dominated industry, or vice-versa. They may not be what you initially expected, but the experience, skills, and commitment of job seekers should be the things that stand out during the hiring process. <\/p>\n\n\n\n

If you\u2019re limited to a particular career background, such as having a college degree or working in traditional environments, you won\u2019t see the candidates\u2019 real potential. <\/p>\n\n\n\n

Some of them will have graduated from coding bootcamps<\/u><\/a>, apprenticeship programs, or trade schools, and still be completely qualified for the position. This will considerably lower your training costs as well. <\/p>\n\n\n\n

Consider Their Accomplishments<\/h3>\n\n\n\n

Accomplishments are the best demonstration of someone\u2019s performance in previous jobs. That\u2019s why you should keep an eye on them during the interview. A good question to ask them would be about challenges they faced in previous job experiences and how they confronted them. <\/p>\n\n\n\n

Have Other Top Performers Conduct the Interview<\/h2>\n\n\n\n

Usually, when you\u2019re hiring for a very technical position, you may want to use your current employees\u2019 help to conduct the interviews<\/strong>. <\/p>\n\n\n\n

A human resources recruiter<\/a> might not understand the technicalities that come with that particular role; however, a professional from that field would.   <\/p>\n\n\n\n

A top-notch employee can identify another great performer and knows their value. They will feel like they are a part of the process and that the company values them for entrusting them with such an important task. They will do their best to find the most qualified candidate.<\/p>\n\n\n

\n
\"employee<\/figure><\/div>\n\n\n

Time to Retain: Lower Your High Employee Turnover Rate<\/h2>\n\n\n\n

Employers should implement multiple retaining techniques during this unstable time in the HR industry. You should make your employees feel valued, comfortable, and motivated to be productive. Below, we have compiled a couple of tips to lower your high turnover rate<\/strong>. <\/p>\n\n\n\n

Develop a Good Company Culture<\/h3>\n\n\n\n

According to research from Robert Walters, a world-renowned UK recruiting company, 73 percent of employees<\/u><\/a> seek a new job because of poor company culture. Salary, benefits, and job growth are significant factors to staying at a particular company, but that all goes down the drain when you have a toxic corporate culture.<\/p>\n\n\n\n

Encourage managers to foster good values such as cooperation, teamwork, and solidarity. Employees should be able to express their thoughts and feelings<\/strong> because this will result in a positive employee experience at work.<\/p>\n\n\n\n

Provide Them With Training<\/h3>\n\n\n\n

Before discussing the benefits of providing job training<\/u><\/a>, let\u2019s explore some stats:<\/p>\n\n\n\n