Exploring Wage Analysis as a Possible Solution for Reducing Turnover
Certain positions in the manufacturing industry tend to have high rates of employee turnover, resulting in a never-ending revolving door of new employees. The impact that this turnover has on a business is abundantly clear as managers and coworkers vent their frustration and productivity levels reach an all-time low.
Without the proper level of care and research, this can ultimately dig into the manufacturer's bottom line. With the unprecedented level of turnover that is occurring, it has never been more important for manufacturers to focus on innovative solutions for reducing turnover. While there is no “magic solution” for reducing employee turnover, a wage analysis is often one of the best ways to incentivize employee commitment. Unfortunately, many of these manufacturing positions require an employee to perform tedious tasks over and over for up to 10 hours each day. Identifying the right fit for the vacant positions that are available and providing an above-average salary can often lead to higher job satisfaction. However, knowing the appropriate salary to offer potential or existing employees can be incredibly difficult without the research and information afforded through wage analysis. But what impact could wage analysis have on the ability to retain employees long-term?
How Does Wage Analysis Reduce Turnover?
While it may be tempting for a manufacturer to hire any interested candidate for a vacant position, this practice can often increase turnover and further exacerbate the problem. Taking the time to identify the minimum skills required for the job and establishing a fair wage to complete those tasks can help improve job satisfaction while simultaneously improving the chances of them staying with the facility long-term as a valued and productive employee.
One way to ensure employee satisfaction and focus on improving retention is to perform a wage analysis to create a benchmark and ensure employees are weighing their current job duties against their designated wages. Many manufacturers mistakenly believe that turnover is an inevitable part of the business given the tedious nature of the job that employees are required to complete daily. While turnover will likely always be present to some degree, it can be managed with an appropriate salary and incentivization through benefits or rewards programs. Improved wages may also help boost morale while enhancing the ability to achieve productivity goals. At the same time, a great salary program can also establish a manufacturing facility as a great place that job seekers will want to work at, and existing employees will want to stay with long term.
Taking the time to ensure that employees are receiving the right market wage for labor and that they are being treated well can help create positive change that reduces turnover. While it may seem detrimental to increase employee wages, this can help retain top talent and reduce employee turnover long term. Certified Source makes reducing turnover easy through our performance-based staffing services designed to not only improve performance but also elevate employee morale and satisfaction to further reduce employee turnover.
Using Targeted Recruitment and Retention Programs as a Possible Solution for Reducing Turnover
Employee turnover is often one of the most financially devastating things that can affect any organization. On average, a single employee leaving an organization can cost anywhere from 30% to 400% of their annual salary and will typically cause a drop in productivity until the position is re-filled. As talent shortages get worse, these costs will only increase further. However, focusing on targeted recruitment and retention programs could be a possible solution for reducing turnover.
Smart organizations should always be looking for the best ways to reduce turnover by looking at the entire employment lifecycle. By using targeted recruitment and retention programs, employers can not only source the best talent possible for the open positions they have, but they can also create long-term partnerships with those employees to limit the chances of pre-mature turnover occurring. But what other benefits can be achieved through the use of targeted recruitment and retention programs?
How Can Targeted Recruitment and Retention Programs Help Reduce Turnover?
Often, many benefits can be achieved when a company focuses on targeted recruitment and retention programs. While this approach may seem challenging at first, these two factors often work harmoniously to ensure that the best talent is captured from the local market. Then they will continue to work with the organization for years to come – often with little chance of them leaving. As you might imagine, a well-crafted retention program is frequently among the most critical aspects as an organization works to reduce turnover.
Organizations should set up new hires for success by ensuring their onboarding process is as streamlined as possible. During the onboarding process, employees should have a clear picture of the business's expectations for them as well as a vision of the mission of the organization and its pre-defined company culture. One easy way to improve retention programs is to describe what their next 30 to 90 days will look like. If you have not already incorporated this process, now is the best time to do it.
Celebrating employee achievements is also a critical part of recruitment and retention programs because it emphasizes any successes that impact the business positively. By that same token, providing employees with ongoing training throughout their career with the organization will also ensure that they can rise to meet any new challenges and have the skills needed to continue to grow with the business. Depending on the industry the company is a part of, certification programs can increase professionalism and help employees continue to mature in their designated position and career.
One final key aspect of using retention programs to reduce turnover is to be careful with the workload amount of pressure placed on employees. Happy employees will always be more likely to stay with a company than unhappy ones. Finding the appropriate work-life balance for the employee's individual needs and ensuring they do not reach burn-out levels is crucial. Take the time to review your current targeted recruitment and retention programs to see if they can be changed to reduce turnover in your own organization.
Pre-Screening as a Possible Solution for Reducing Employee Turnover
Many unique nuances ensure a business is profitable for most business owners and that their budgets are being managed appropriately. However, one commonly overlooked aspect of running a business is the need to hire and retain employees who can hit productivity goals and positively impact the organization’s bottom line. Simply put, no business can survive with high employee turnover rates and hiring new staff constantly is rarely the best use of time. But what if employee turnover could be managed or minimized with pre-screening?
Pre-screening checks on candidates often fulfill two unique goals. First, pre-screening can help review a potential employee’s background for potential compliance issues when performing a similar job with a previous employee. Second, pre-screening and employee can help determine whether they possess the necessary skills and experience required to complete a given task for the position they are applying for. This focus on finding the right candidate for the job before extending them a role ensures that turnover due to performance issues doesn’t factor into their future placement with the company. Although, this is just one of the many benefits associated with implementing a pre-screening system into the hiring process to reduce future employee turnover.
How Can Pre-Screening Help Reduce Employee Turnover?
Maintaining a healthy and safe workplace for employees is critical for enhanced teamwork and maintaining a stellar company reputation. Unfortunately, one of the most significant losses a company can have annually spawns from workplace violence – the destruction of company property, threatening behaviors or physical abuse among employees. Pre-screening candidates can help with reducing employee turnover by curbing this problem before it can begin. This can create a positive work environment that encourages growth and doesn’t hinder employee emotions, work performance or job satisfaction.
Knowing more about the candidate you are considering hiring and how they will likely perform when extended a job can ensure that the candidate is the right fit. Candidates who go through a detailed pre-screening process will often not apply at all if their skills or false information that they provide may be detected. This can save time and ensure that candidates who can’t “cut the mustard” aren’t eliminated early on in the process, allowing hiring managers to focus on sourcing the top talent available. From these remaining candidates, there is a much more likely chance that they will want to stay long-term if the offer and company culture matches their goals.
One final way that pre-screening helps reduce employee turnover is that, with the right employees in place, businesses can less time training new hires and can incentivize ongoing training and education for long-term employees. This helps the workforce continue to grow and stay up-to-date with modern trends or requirements for their job. Although pre-screening may seem like a challenging process, its benefits to modern businesses are unmistakable. As a leading provider of performance-based staffing solutions, Certified Source can help reduce turnover by utilizing pre-screening and ensuring candidates have the skills needed to succeed.
Exploring Pre-Employment Evaluations as a Possible Solution for Reducing Turnover
Turnover is a common problem in the modern work environment. Not only do employees have more options available to them, but the slightest inconvenience can also often lead to dissatisfaction and a quick job shift.
While it may seem like there is no reprieve from the constant churn of employees, implementing pre-employment evaluations may help in reducing turnover and ensuring the candidates being hired are looking for a long-term career with advancement opportunities. While there are hundreds of questions that can be used in these assessments, finding the right balance for your ideal candidate is essential.
In a study by the Aberdeen Group, researchers found that businesses who use pre-employment evaluations often experience as much as 39% lower turnover among high-potential employees. Many modern job separations are voluntary – meaning that employees are willingly leaving a company instead of involuntarily being fired. Although this could be a generational change where baby boomers reach retirement and a millennial-driven workforce takes the reigns. When pre-employment evaluations are in place, companies are much more likely to weed out the short-term employees and find the candidates that are most likely to thrive in the company culture that has been created.
How Can Pre-Employment Evaluations Reduce Turnover?
As a highly customizable solution for employers, pre-employment evaluations can make it much easier for organizations to source the top talent and ensure that their position aligns with their long-term career goals. However, while these assessments are a great way to help screen candidates, legal issues can arise if the proper precautions aren’t taken. But what is the real value provided by pre-employment evaluations, and in what ways can they be used to hire suitable candidates and reduce turnover?
As previously stated, a pre-employment evaluation can often help a company identify the top talent available to them and provide valuable insight into how they will perform on the job. In addition to this, pre-employment evaluations can also help save time, cut costs, improve morale and ensure turnover is not looming in the future. Human resources is becoming much more data-driven, and having this data available can help organizations make more informed hiring decisions that will provide a positive impact for years to come; however, one of the most significant benefits is the ability to attack future turnover before it even begins preemptively.
Employers can increase the chances of getting the right talent the first time by using pre-employment evaluations to screen candidates and determine which are best for the job. When administered correctly, there’s no denying the power that this approach can have on reducing turnover for modern employers while ensuring that top talent is obtained and retained long-term. Unfortunately, many employers still do not use pre-employment evaluations for fear that implementing them will be too costly or too labor-intensive; however, the benefits obtained are immense and the process can function on autopilot once perfected. Certified Source can help simplify the process with intuitive and innovative performance based staffing services.
Exploring Site Orientation as a Possible Solution for Reducing Turnover
For many organizations, site orientation means well but doesn’t actually help a new employee get started on the best foot. Often, the process involves showing the employee around the facilities where coworkers will be too busy to engage with them, providing them with a dated employee handbook and then having them shadow another team member for a short period. If this sounds familiar, there is a good chance that your organization may have trouble reducing turnover simply because new employees don’t know what to honestly expect.
New hires are generally excited to begin their career with a new company; however, these high expectations are quickly shattered if they are thrown to the wolves without an excellent site orientation process in place. As they struggle to learn the job and fit in with the rest of the company culture, they will likely start to second guess their decision to take the position in the first place. Before you know it, you are again trying to fill these vacant positions and repeating the process of churn. But what other benefits does site orientation provide for organizations that are actively working at reducing turnover?
How Can Site Orientation Help Reduce Turnover?
Turnover is exceedingly common in entry-level positions across all industries. But having a well-crafted site orientation program can help reduce turnover occurring while also limiting the common problems associated with turnover like low morale, lost productivity or high costs that could quickly eat away at a budget. Instead of following the age-old orientation process that so many businesses have relied on, making the program work for your organization and setting clear guidelines for new employees is often a better approach. But to really drive that message home, let’s review some statistics.
According to O.C. Tanner, 69% of employees are more likely to stay with an employer for a minimum of three years if the onboarding and site orientation experience are great. To further compound this, research also shows that around 22% of employee turnover occurs during the first 45 days, while one-third leave with six months from their hiring date. As you can imagine, this means that the first 90 days of employment are crucial for laying a solid foundation that encourages an employee to stay with the company long-term. Site orientation should be a strong focus during these periods to continue reducing turnover while maintaining headcounts and boosting team morale.
Organizations should plan to do a site orientation within the first three months of new staff members arriving for the most impact. If multiple employees are starting simultaneously, keeping onboarding classes filled to no more than 15 people can help ensure it still feels personalized for the new employees. As a pioneer in performance based staffing, Certified Source can help simplify site orientation processes to ensure they resonate well with employees. Because all necessary staffing and training are completed through our worker pools, our staffing professionals can help find employees that are more likely to stay with a company long-term
Exploring Function-Specific Training as a Possible Solution for Reducing Turnover
Did you know that nearly 79% of training administrators believe that giving employees thorough training can help reduce employee turnover? While there are many different possible reasons why this may be the case, investing in employee training can help instill confidence during onboarding and continued training can add value to an employee’s chosen career path.
This is effective mainly if it is function-specific training that results in certification or other accolades. If an employee feels like a company is taking the initiative to help them succeed, this can help create loyalty among those receiving the training.
Function-specific training often helps reduce turnover simply because it helps improve job satisfaction. This improves employee morale, but it also benefits the business as well since employees will have the knowledge and tools to improve their performance and bring new ideas and concepts to the organization. Without function-specific training, employees will often become overwhelmed or frustrated, ultimately encouraging them to seek employment elsewhere to mitigate these aspects of the job.
How Does Function-Specific Training Help Reduce Turnover?
It is wise for organizations to be cautious of turnover in the current economic client. As new jobs open up, unsatisfied employees are likely to start searching for other opportunities. Fortunately, this is a problem that can often be curbed through function-specific training. While this may seem like a monetary loss to an organization in the short term, this is an essential facet of employee retention in modern times. Now is the best time to show your commitment to employees and give them the training they need to build loyalty.
Often, giving employees the option to attend function-specific pieces of training can help an organization demonstrate that they value the employee’s role within the organization. In addition to this, many employees will take it as a sign that the company cares for its employees and wants them to succeed. As many hiring managers that have taken this approach have found out, this also encourages employees to stay long-term. This, in turn, helps in further reducing turnover.
One other common reason that hiring managers associated reduced turnover with function-specific training is that these opportunities create growth potential in employees. Through these training options, employees can further grow into their existing roles and look for advancement opportunities within the same organization. This creates immense potential for developing leaders of tomorrow when expansion opportunities occur. With training, improved performance should also be rewarded to help reduce turnover and create lifelong employees.
Certified Source works with various industries that experience high turnover due to the monotony of their available positions. Our team works with employers to fulfill their employment needs while simultaneously reducing turnover through performance based staffing services. Under these programs, employees receive the training they need to thrive in a given position and often move into new roles within the company before considering leaving for an alternative job. In conjunction with function-specific training, this approach is critical for high turnover industries like manufacturing, construction or property management.